SpartanNash Q1 2024 Earnings Report
Key Takeaways
SpartanNash reported a decrease in net sales by 3.5% to $2.81 billion, driven by lower volumes in both Wholesale and Retail segments. Net earnings increased to $0.37 per diluted share, while adjusted EPS was $0.53. The company reaffirmed its fiscal year 2024 profitability guidance.
Net sales decreased by 3.5% to $2.81 billion due to lower volumes in Wholesale and Retail.
Net earnings per diluted share increased to $0.37, compared to $0.32.
Adjusted EPS was $0.53, compared to $0.64 in the prior year.
Company reaffirms fiscal 2024 profitability guidance.
SpartanNash
SpartanNash
SpartanNash Revenue by Segment
Forward Guidance
The Company has reaffirmed its previous profitability guidance with respect to adjusted EBITDA, adjusted EPS, and capital expenditures and IT capital, and is updating its total net sales guidance to reflect current trends and market conditions.
Positive Outlook
- Adjusted EBITDA between $255 million and $270 million
- Adjusted EPS between $1.85 and $2.10
- Capital expenditures and IT capital between $135 million and $145 million
- Guidance incorporates the Company’s long-term strategic initiatives
- Guidance incorporates all transformational programs and tuck-in acquisitions
Challenges Ahead
- Total net sales between $9.5 billion and $9.7 billion
- Reflects current trends
- Reflects market conditions
- Unpredictable adjustment items
- Future events may be outside of the Company's control and could have a significant impact on its GAAP financial results for fiscal 2024