Grocery Outlet: Q2 Earnings Snapshot

August 9, 2022 GMT

EMERYVILLE, Calif. (AP) _ Grocery Outlet (GO) on Tuesday reported second-quarter earnings of $20.1 million.

The Emeryville, California-based company said it had net income of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 29 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The supermarket company selling discount, overstocked and closeout products posted revenue of $897.7 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $859.6 million.

Grocery Outlet expects full-year earnings in the range of 97 cents to $1 per share, with revenue in the range of $3.46 billion to $3.48 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GO at https://www.zacks.com/ap/GO