Safeway Q4 Profit Soars - Quick Facts

(RTTNews) - Safeway Inc. (SWY) Wednesday reported fourth-quarter profit of $3.31 billion or $13.46 per share, up from $244.0 million or $1.02 per share in the same period last year.

Earnings from continuing operations totaled $100.0 million or $0.35 per share, compared to $170.7 million or $0.71 per share last year. Fourth-quarter profit included a gain of $3.23 billion or $13.11 per share from discontinued operations.

Adjusted earnings for the quarter were $0.53 per share. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Sales and other revenues amounted to $11.31 billion, up from $11.22 billion last year. Analysts expected sales of $11.48 billion.

Looking ahead to the fiscal 2014, the company currently projects adjusted earnings in the order of $1.15 to $1.35 per share. Analysts currently expect full-year earnings of $1.69 per share.