Grocery Outlet Holding Corp (GO) said after close Tuesday that it earned $0.31 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $1 billion, missing estimates by $6.1 million.
In the same quarter a year ago, the company earned $0.27 per share on revenue of $918.2 million.
The stock is down 4.39% to $27.21 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Grocery Outlet Holding Corp a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 29. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Grocery Outlet Holding Corp is a grocery store operator in the United States. Its flexible buying model allows them to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers. The stores are run by Entrepreneurial independent operators which create a neighborhood feel through personalized customer service and a localized product offering.
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Grocery Outlet Holding Corp Down 4.39% To $27.21 After Earnings Beat
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