SpartanNash Jumps After Q3 Earnings
SpartanNash (NASDAQ: SPTN) is up more than three percent in after hours trading after the company announced its third quarter results.
The firm reported a Q3 EPS of $0.40 versus the Street estimate of $0.25.
Earnings per share were up 67 percent from the year-ago period.
Revenue arrived at $1.3 billion.
"We are pleased with our sales and adjusted earnings results for the third quarter," Dennis Eidson, SpartanNash's President and Chief Executive Officer, said in a company release.
"While the merger with Nash Finch contributed a significant portion of our growth in the quarter, we produced strong results in our legacy business, which is a testament to the excellence of our management team and associates. We are excited to begin the next phase of SpartanNash's development and our integration activities are underway and progressing as planned. Our management team is in place and we are focused on leveraging our increased scale, geographic reach and complementary business segments to better compete in the evolving grocery industry."
SpartanNash expects its first quarter EPS from continuing operations to be between $0.33 and $0.38 versus the Street estimate of $0.46. Sales are expected to be between $2.3 billion and $2.34 billion.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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