07:26 AM EDT, 03/12/2026 (MT Newswires) -- Empire Company (EMP-A.TO) Wednesday reported third-quarter adjusted earnings and revenue that both beat estimates.

The company said adjusted net earnings, which excludes most one-time items, advanced 12.3% to $164 million, or $0.72 per share, from $146 million, or $0.62 per share in the prior year period. Analysts polled by FactSet had expected $0.71 per share. Empire reported a third-quarter loss of $385 million, or $1.68 per diluted share as it recognized a $746 million impairment for its e-commerce network following a review of its expected financial performance.

Quarterly sales rose 2.1% to $7.89 billion, beating the $7.87 billion expected. Food sales increased by 3.0%, while fuel sales contracted by 11.4%, driven by lower fuel prices due to the axing of the carbon tax.

Empire said the outcome of its e-commerce review is expected to boost e-commerce financial performance with improvements in annualized operating income of $95 million starting in the fourth quarter of fiscal 2026 and continuing into fiscal 2027 and beyond.

The company will pay a quarterly dividend of $0.22 per share on April 30, to shareholders of record on April 15.