Albertsons Companies Q2 Earnings Top Estimates

  • Albertsons Companies Inc ACI reported second-quarter FY22 sales growth of 8.5% to $17.92 billion, beating the consensus of $17.72 billion.
  • Identical sales increased by 7.4%. Digital sales increased 36%.
  • Gross profit increased 6.1% Y/Y to $5 billion. Gross profit margin contracted 70 bps to 27.9%.
  • Selling and administrative expenses increased 6.1% Y/Y to $4.5 billion and were 25% of sales.
  • The operating margin was 2.96%, and operating income for the quarter was $531 million, a 9.3% Y/Y increase.
  • Adjusted EPS of $0.72 beat the analyst consensus of $0.65.
  • Adjusted EBITDA for the quarter rose 8.6% Y/Y to $1.04 billion.
  • Net cash provided by operating activities for six months totaled $1.6 billion. The company held $3.4 billion in cash and equivalents as of September 10, 2022.
  • On October 13, 2022, the company entered into an agreement and Plan of merger with The Kroger Company KR
  • Price Action: ACI shares are trading higher by 0.17% at $26.48 on the last check Tuesday.
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