SpartanNash Q1 Profit Falls; Backs Full Year Outlook

(RTTNews) - Food solutions firm SpartanNash Company (SPTN), Tuesday reported lower earnings for the first quarter particularly reflecting increased cost of sales. However, revenue increased by 5.2 percent. The company also affirmed its earnings and sales guidance for the full year.

Quarterly earnings decreased to $11.3 million or $0.32 per share from $19.3 million or $0.53 per share for the same quarter of last year.

On average, seven analysts polled by Thomson Reuters expected earnings of $0.63 for the year. Analysts' estimates typically exclude special items.

Adjusted EBITDA, however, increased $0.1 million to $76.8 million compared to $76.6 million for the same period last year.

Revenue increased $ 143.7 million to $2.91 billion from $2.76 billion of last year, on higher sales growth in both wholesale and retail segments.

The Street estimate for revenue was $2.95 billion.

Looking ahead for the full year, the company reaffirmed its previous guidance provided on February 23. It still expects the total net sales to be in the range of $9900 million-$10200 million. The Street estimate stands at $10.04 billion.

The adjusted EBITDA is expected between $2.20 million and $2.35 million.

Adjusted EPS is expected between $2.20 and $2.35 per share. The Street estimate is $2.21 per share.

In premarket activity, shares of SpartanNash were trading at $23.10, up 0.87% or $0.20 on the Nasdaq.