Albertsons Cos. Inc. /zigman2/quotes/209620932/composite ACI -2.17% shares jumped 5.6% in Tuesday premarket trading after the grocer reported fiscal third-quarter results that beat the Street and raised its full-year outlook. Net income totaled $424.5 million, or 74 cents per share, up from $123.7 million, or 20 cents per share, last year. Adjusted EPS of 79 cents blew past the FactSet consensus for 61 cents. Revenue of $16.728 billion was up from $15.409 billion last year also ahead of the FactSet consensus for $16.378 billion. Identical sales rose 5.2%, ahead of the FactSet consensus for 1.4% growth. Albertsons now expects full-year identical sales in the range of a 0.8% decline to a 1.2% decline, versus previous guidance for a decrease of 2.5% to 3.5%. And adjusted EPS is expected to be in the range of $2.90 to $2.95, up from $2.50 to $2.60. The FactSet consensus is for an identical sales decline of 2.5% and EPS of $2.63. Albertsons stock has soared 90.5% over the past year while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.02% has gained nearly 23%.
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