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Jul 16, 2022
SpartanNash Q2 2022 Earnings Report
Announced strong second quarter fiscal 2022 results with net sales increased by 7.9% and raised guidance for full year 2022.
Key Takeaways
SpartanNash reported a strong second quarter in fiscal year 2022, with net sales increasing by 7.9% to $2.3 billion compared to the prior year quarter. The company's adjusted EBITDA increased by 13.7% to $61.8 million, and retail comparable sales rose by 6.5%.
Net sales increased 7.9% to $2.3 billion compared to the prior year quarter.
Retail comparable sales increased 6.5% for the quarter.
Adjusted EBITDA increased 13.7% to $61.8 million compared to the prior year quarter.
The company made progress on its Supply Chain Transformation, with a 9% improvement in throughput rate year-over-year.
Revenue by Segment
Forward Guidance
The Company expects a stable earnings pace for the back half of fiscal 2022, inclusive of the net incremental costs associated with the Merchandising Transformation initiative, currently estimated to be between $11.0 million to $14.0 million.
Positive Outlook
- Total net sales between $9,300 million and $9,600 million
- Retail comp sales increase between 4.0% and 7.0%
- Food Distribution sales increase between 4.0% and 7.0%
- Military sales increase between 5.0% and 8.0%
- Adjusted EBITDA between $227 million and $240 million
Challenges Ahead
- Capital expenditures and IT capital between $100,000 thousand and $110,000 thousand
- Depreciation and amortization between $90,000 thousand and $100,000 thousand
- Interest expense between $19,000 thousand and $21,000 thousand
- Income tax rate between 24.5% and 25.5%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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