Grocery Outlet Holding Corp. (GO) Q1 Earnings Surpass Estimates

Core Insights - Grocery Outlet Holding Corp. reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, and up from $0.09 per share a year ago [1] - The earnings surprise of 85.71% indicates strong performance compared to expectations, although the previous quarter saw a negative surprise of -11.76% [2] - The company posted revenues of $1.13 billion for the quarter, slightly missing the Zacks Consensus Estimate by 0.21%, but showing growth from $1.04 billion year-over-year [3] Earnings Performance - The company has surpassed consensus EPS estimates three times over the last four quarters, indicating a trend of positive earnings surprises [2] - The current consensus EPS estimate for the upcoming quarter is $0.22, with projected revenues of $1.2 billion, and for the current fiscal year, the estimate is $0.73 on $4.75 billion in revenues [8] Stock Performance - Grocery Outlet shares have increased by approximately 4.4% since the beginning of the year, contrasting with a -3.9% decline in the S&P 500 [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the market in the near future [7] Industry Context - The Consumer Products - Staples industry, to which Grocery Outlet belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, which may impact stock performance [9] - Another company in the same industry, BJ's Wholesale Club, is expected to report earnings soon, with a consensus EPS estimate of $0.91, reflecting a year-over-year increase of 7.1% [10][11]