Earnings Call Excerpt
SuperValu, Inc. (SVU)
F3Q09 Earnings Call
January 7, 2009 10:00 am ET
Executives
David Oliver - Investor Relations
Jeffrey Noddle - Chairman of the Board, Chief Executive Officer
Pamela K. Knous - Chief Financial Officer, Executive Vice President
Bob Johnson – Vice President, Investor Relations
Analysts
Deborah Weinswig - Citigroup
John Heinbockel – Goldman Sachs
Mark Wiltamuth – Morgan Stanley
Edward Kelly - Credit Suisse
Meredith Adler - Barclays
Scott Mushkin - Jefferies & Co.
Karen Short – Friedman, Billings, Ramsey
Presentation
Operator
Welcome to the Q3 fiscal 2009 earnings conference call. (Operator Instructions) I would now like to turn the call over to Mr. David Oliver. Sir, you may begin your conference.
David Oliver
Welcome everyone. SuperValu’s call today is web cast and will be available for replay on our website. Today on the call are Jeff Noddle, SuperValu’s Chairman and CEO and Pam Knous, Corporate Executive Vice President and CFO. Also joining us on the call today is Bob Johnson, who is now on board as SuperValu’s Vice President of Investor Relations, a role I have held on an interim basis. Prior to joining SuperValu Bob held various financial roles at JCPenney including most recently Vice President of Investor Relations. Please join me in welcoming Bob to SuperValu.
I will be working with Bob through the year-end release tentatively scheduled for April 23.
As you know, the information presented and discussed today includes forward-looking statements which are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties related to such statements are detailed in our fiscal 2008 10K. After today’s prepared remarks, we will have a question and answer session. Bob and I will be available after the call for additional questions.
I will now turn the call over to Jeff.
Jeffrey Noddle
Thank you David and thank you for your service during this interim and we welcome Bob to the SuperValu team. We are very pleased to have you here. Good morning to everyone joining us today. I will start by providing some brief comments on the quarter and then provide some preliminary comments on our fiscal 2010 outlook. Pam will provide additional detail on the quarter after which I will make some closing remarks.
This morning we reported a loss of $13.95 per diluted share which included the impact of non-cash impairment charges in the amount of $14.57 per diluted share. Excluding the impairment charge, I am pleased to report for the third quarter despite cautious consumer spending, that we were able to deliver adjusted diluted earnings per share of $0.62 in line with our expectations, $0.02 above First Call consensus and also cycling a record quarter in the prior year.
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