EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported third-quarter profit of $27.1 million.
The Emeryville, California-based company said it had net income of 27 cents per share. Earnings, adjusted for one-time gains and costs, came to 31 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.01 billion.
Grocery Outlet expects full-year earnings in the range of $1.04 to $1.06 per share, with revenue expected to be $3.95 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GO at https://www.zacks.com/ap/GO