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SuperValu beats 3Q profit forecasts

EDEN PRAIRIE, Minn. (AP) _ SuperValu Inc. (SVU) on Wednesday reported fiscal third-quarter net income of $26 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Eden Prairie, Minnesota-based company said it had profit of 67 cents. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The grocery store operator posted revenue of $3.94 billion in the period.

SuperValu shares have decreased 9 percent since the beginning of the year. The stock has decreased 40 percent in the last 12 months.

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