Shares of grocery retailer Albertsons () rose Wednesday morning after the company rꦏeported better thi𝐆rd-quarter earnings than analysts had expected, while sales fell just short of estimates.

Albertsons recorded $400.6 million in net income for the quarter, up from $361.4 million the same time last year and the $318.1 million analysts had expected, according to estimates compiled by Visible Alpha. That profit came on $18.77 billion in revenue, better than $18.56 billion a year ago but narrowly below the $18.8 billion analyst consensus.

CEO Vi𒀰vek Sankaran said the company delivered a solid quarter despite a consumer who𝄹 "remains cautious."

Albertsons also slightly lifted its outlook for the rest of fiscal 2024, expecting adjusted 澳洲幸运5开奖号码历史查询:earnings per share (EPS) from $2.25 to $2.31 for the full fiscal year, up from $2.20 to $2.30 previously. It also lowered the top end of its projected range for 澳洲幸运5开奖号码历史查询:same-store sales growth toꦆ 1.8♒% to 2%, down from a top end of 2.2% previously.

Fi𓄧rst Repo🍬rt Since End of Kroger Merger, Start of Lawsuit

Wednesday is the chain's first quarterly report since the proposed merger between Albertsons and Kroger (KR) was called off last month after a pair of judges 澳洲幸运5开奖号码历史查询:ruled against the deal. The judges sided with the 澳洲幸运5开奖号码历史查询:Federal Trade Commissions (FTC), which 澳洲幸运5开奖号码历史查询:sued to block the deal early last year, ruling that the merger would be 澳洲幸运5开奖号码历史查询:likely to result in lower wages and 澳洲幸运5开奖号码历史查询:higher prices as competition in the industry would decrease.

The companies have since accused each other of violating their merger agreement, and Albertsons has 澳洲幸运5开奖号码历史查询:filed a lawsuit against Kroger alleging the retailer knew it was not doing enough, like 澳洲幸运5开奖号码历史查询:agreeing to sell stores, to get the merger approved and resolve the FTC's concernsꦓ, claims Kroger has denied.

Both companies 澳洲幸运5开奖号码历史查询:have also restarted their 澳洲幸运5开奖号码历史查询:stock buyback pr𒊎ogr❀ams after the plans were paused to focus on winning regulatory approval for the merger.

Albertsons shares were up ab𒆙out 2% Wednesday𝓀 morning.