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SuperValu profit misses consensus by 28.5% in fiscal Q4

SuperValu Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to $1.06 per share, compared with the S&P Capital IQ consensus estimate of $1.48 per share.

The per-share result swung to a profit from the prior-year loss of 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $40.3 million, compared with a loss of $12.0 million in the year-earlier period.

The normalized profit margin rose to 1.4% from negative 0.3% in the year-earlier period.

Total revenue rose 10.4% year over year to $4.36 billion from $3.95 billion, and total operating expenses grew 9.6% from the prior-year period to $4.21 billion from $3.84 billion.

Reported net income declined 17.0% year over year to $32.0 million, or 84 cents per share, from $38.6 million, or $1.03 per share.

For the year, the company's normalized net income totaled $4.12 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.83.

EPS rose 64.5% from $2.51 in the prior year.

Normalized net income was $155.5 million, an increase of 68.3% from $92.4 million in the prior year.

Full-year total revenue grew on an annual basis to $17.82 billion from $17.25 billion, and total operating expenses grew year over year to $17.32 billion from $16.76 billion.

The company said reported net income increased year over year to $118.8 million, or $3.15 per share, in the full year, from $5.2 million, or 14 cents per share.