Smart & Final Stores Q3 Profit, Sales Rise; Stock Up

(RTTNews) - Smart & Final Stores, Inc. (SFS) said third-quarter net income grew to $10.2 million from $10.0 million. Earnings per share was flat at $0.17.

Adjusted net income was $0.24 per share, while it totaled $0.20 per share last year. On average, six analysts polled by Thomson Reuters expected earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 10.8 percent to $1.13 billion from $1.021 billion, driven by a 6.6 percent increase in comparable store sales and from the sales contribution of new stores. Analysts expected revenues of $1.11 billion.

For the fourth quarter, the company expects adjusted net income in the range of $8.5 million to $9.5 million.

Net sales growth is estimated in the range of 9.5 to 10.5 percent, with a comparable store sales growth of 4.5 to 5.5 percent.

Wall Street expects earnings of $0.59 per share on revenues of $3.48 billion.

SFS closed down 2.9 percent on Wednesday at $14.58, but added 3.3 percent in the extended trade.