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Apr 22, 2023
SpartanNash Q1 2023 Earnings Report
Reported strong first quarter results driven by operational excellence and transformational initiatives.
Key Takeaways
SpartanNash reported a 5.2% increase in net sales to $2.91 billion, driven by growth in both Wholesale and Retail segments. The company reaffirmed its fiscal year 2023 guidance and commitment to its long-term fiscal 2025 plan. Net earnings were $11.3 million, compared to $19.3 million in the prior year quarter.
Net sales increased by 5.2% to $2.91 billion.
Retail comparable sales increased by 5.4%.
Net earnings were $11.3 million, compared to $19.3 million in the prior year quarter.
Adjusted EBITDA was $76.8 million, compared to $76.6 million in the prior year quarter.
SpartanNash
SpartanNash
SpartanNash Revenue by Segment
Revenue by Segment
Wholesale Revenue
CapyFin.comRetail Revenue
CapyFin.com Forward Guidance
Based on the Company’s performance to date and the current outlook for the remainder of fiscal 2023, the Company reaffirmed its previous guidance provided on February 23, 2023.
Positive Outlook
- Total net sales between $9.9 billion and $10.2 billion
- Adjusted EBITDA between $248 million and $263 million
- Adjusted EPS between $2.20 and $2.35
- Capital expenditures and IT capital between $130 million and $145 million
- On track to achieve fiscal 2025 net benefits of $40 to $55 million from transformational initiatives
Revenue & Expenses
Visualization of income flow from segment revenue to net income