Albertsons Companies Q3 Earnings Top Estimates

  • Albertsons Companies Inc ACI reported third-quarter FY22 sales growth of 8.5% year-on-year, to $18.15 billion, beating the consensus of $17.64 billion. Identical sales increased 7.9% and digital sales rose 33%.
  • Gross margin rate contracted 70 basis points to 28.2%, primarily driven by increases in product, shrink and supply chain costs.
  • The operating margin was 3.2% and operating income for the quarter fell 2.9% to $582.4 million.
  • The company held $4.4 billion in cash and equivalents as of December 3, 2022.
  • Adjusted EBITDA of $1.2 billion increased 10.2% Y/Y. Adjusted EPS of $0.87 beat the analyst consensus of $0.67.
  • Number of stores at the end of quarter was 2,270. Inventories at the end of Q3 totaled $5.1 billion.
  • The company's Board has declared a cash dividend for the fourth quarter of fiscal 2022 of $0.12 per share of common stock, payable on February 10, 2023, to stockholders of record on January 26, 2023.
  • "Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results," said CEO Vivek Sankaran.
  • Also ReadAlbertsons Will Report Continued Solid Q3 Earnings Aided By Macro Trends, Says Analyst
  • Price Action: ACI shares are trading higher by 0.12% at $20.94 on the last check Tuesday.
  • Photo Via Company
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