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SuperValu swings to profit in fiscal Q1

SuperValu Inc. said its normalized net income for the fiscal first quarter ended June 14 amounted to $1.17 per share, compared with the S&P Capital IQ consensus estimate of $1.22 per share.

The per-share result swung to a profit from the prior-year loss of 78 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $43.6 million, compared with a loss of $28.0 million in the prior-year period.

The normalized profit margin rose to 0.8% from negative 0.5% in the year-earlier period.

Total revenue totaled $5.23 billion, compared with $5.24 billion in the prior-year period, and total operating expenses came to $5.10 billion, compared with $5.10 billion in the year-earlier period.

Reported net income came to $47.2 million, or $1.24 per share, compared to a loss of $105.0 million, or a loss of $2.99 per share, in the year-earlier period.