SpartanNash (SPTN) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS
SpartanNash (NASDAQ:SPTN) issued its earnings results on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01), Bloomberg Earnings reports. SpartanNash had a positive return on equity of 10.35% and a negative net margin of 0.93%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. SpartanNash updated its FY18 guidance to $2.20 to $2.32 EPS.
SpartanNash (NASDAQ:SPTN) traded down $0.22 on Wednesday, reaching $22.13. The company had a trading volume of 291,392 shares, compared to its average volume of 234,585. The stock has a market capitalization of $858.48, a price-to-earnings ratio of -11.06, a P/E/G ratio of 1.77 and a beta of 0.88. SpartanNash has a 12 month low of $18.56 and a 12 month high of $39.67. The company has a current ratio of 1.81, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92.
SpartanNash declared that its board has approved a stock buyback program on Thursday, November 16th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
SpartanNash Company is a multi-regional grocery distributor and grocery retailer. The Company’s core businesses include distributing grocery products to independent grocery retailers (independent retailers), select national retailers, its corporate owned retail stores, and the United States military commissaries.
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