SpartanNash (NASDAQ:SPTN) shares are soaring 5.18% in intraday trading on Thursday following the company's first-quarter earnings report that exceeded expectations in key areas, despite missing on earnings per share.

The grocery wholesaler and retailer reported Q1 sales of $2.91 billion, surpassing the analyst consensus estimate of $2.87 billion by 1.44%. This represents a 3.69% increase from the same period last year. Additionally, SpartanNash's adjusted EBITDA came in at $76.9 million, beating the estimate of $75.7 million.

While the company's adjusted earnings per share of $0.35 missed the analyst consensus of $0.43, investors appear to be focusing on the positive aspects of the report. SpartanNash reaffirmed its fiscal 2025 guidance, maintaining its revenue outlook of $9.8 billion to $10.0 billion and adjusted EPS view of $1.60 to $1.85. This reassurance, combined with the sales and EBITDA beats, seems to have bolstered investor confidence in the company's long-term prospects, driving the stock's significant rise.