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Loblaw Companies Q1 Profit Increases, beats estimates

Loblaw Companies (L.TO) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at C$437 million, or C$1.30 per share. This compares with C$313 million, or C$0.90 per share, in last year's first quarter.

Excluding items, Loblaw Companies reported adjusted earnings of $459 million or C$1.36 per share for the period.

Analysts on average had expected the company to earn C$1.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.3% to C$12.262 billion from C$11.872 billion last year.

Loblaw Companies earnings at a glance (GAAP) :

-Earnings (Q1): C$437 Mln. vs. C$313 Mln. last year.
-EPS (Q1): C$1.30 vs. C$0.90 last year.
-Analyst Estimate: C$1.32
-Revenue (Q1): C$12.262 Bln vs. C$11.872 Bln last year.

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