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Loblaw Companies Q3 Profit Increases, beats estimates

Loblaw Companies (L.TO) reported a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at C$556 million, or C$1.69 per share. This compares with C$431 million, or C$1.27 per share, in last year's third quarter.

Excluding items, Loblaw Companies reported adjusted earnings of C$663 million or C$2.01 per share for the period.

Analysts on average had expected the company to earn C$1.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.3% to C$17.388 billion from C$16.050 billion last year.

Loblaw Companies earnings at a glance (GAAP) :

-Earnings (Q3): C$556 Mln. vs. C$431 Mln. last year.
-EPS (Q3): C$1.69 vs. C$1.27 last year.
-Analyst Estimate: C$1.95
-Revenue (Q3): C$17.388 Bln vs. C$16.050 Bln last year.

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