Grocery Outlet Analysts Slash Their Forecasts Following Q3 Results

Grocery Outlet Holding Corp (NASDAQ:GO) reported upbeat earnings for its third quarter on Tuesday.

The company posted quarterly earnings of 28 cents per share which beat the analyst consensus estimate of 27 cents per share. The company reported quarterly sales of $1.11 billion which beat the analyst consensus estimate of $1.10 billion.

Eric Lindberg, Chairman and Interim President and CEO of Grocery Outlet said, “Our double-digit third quarter net sales growth reflects the strong positioning of our consumer offering, value continues to win in the market and we continue to grow our share of consumer non-discretionary spending.”

Grocery Outlet updated its FY24 EPS guidance from 89 cents-95 cents to 77 cents-80 cents. The company also updated its revenue forecast from ...