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SpartanNash fiscal Q1 profit climbs 11.3% YOY


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SpartanNash fiscal Q1 profit climbs 11.3% YOY

SpartanNash Co. said its normalized net income for the fiscal first quarter ended April 25 was 46 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS climbed 11.0% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.0 million, an increase of 11.3% from $15.2 million in the year-earlier period.

The normalized profit margin climbed to 0.7% from 0.7% in the year-earlier period.

Total revenue came to $2.31 billion, compared with $2.33 billion in the year-earlier period, and total operating expenses decreased from the prior-year period to $2.28 billion from $2.30 billion.

Reported net income declined 14.9% year over year to $10.4 million, or 28 cents per share, from $12.2 million, or 33 cents per share.