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Loblaw Companies Q2 adjusted earnings Beat Estimates

Loblaw Companies (L.TO) announced earnings for second quarter that declined from the same period last year.

The company's profit totaled C$50 million, or C$0.13 per share. This compares with C$359 million, or C$0.90 per share, in last year's second quarter.

Excluding items, Loblaw Companies reported adjusted earnings of C$421 million or C$1.11 per share for the period.

Analysts had expected the company to earn C$1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.4% to C$10.92 billion from C$11.08 billion last year.

Loblaw Companies earnings at a glance:

-Earnings (Q2): C$421 Mln. vs. C$446 Mln. last year.
-EPS (Q2): C$1.11 vs. C$1.11 last year.
-Analysts Estimate: C$1.09
-Revenue (Q2): C$10.92 Bln vs. C$11.08 Bln last year.

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