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Jul 13, 2024
SpartanNash Q2 2024 Earnings Report
SpartanNash's financial performance decreased in Q2 2024 due to lower volumes and higher charges, but was partially offset by benefits from merchandising transformation and favorable sales mix.
Key Takeaways
SpartanNash reported a decrease in net sales by 3.5% to $2.23 billion due to lower volumes in both Wholesale and Retail segments. Net earnings decreased to $0.34 per diluted share, compared to $0.57 per diluted share, primarily due to lower unit volumes and higher restructuring and asset impairment charges. Adjusted EPS was $0.59, compared to $0.65, and Adjusted EBITDA was $64.5 million, compared to $66.1 million.
Net sales decreased 3.5% to $2.23 billion, driven by lower volumes in Wholesale and Retail.
Wholesale segment net sales decreased 4.8% to $1.55 billion due to reduced volumes in the national accounts channel.
Retail segment net sales decreased 0.4% to $676.1 million, with comparable store sales down 2.5%.
Net earnings were $0.34 per diluted share, compared to $0.57 per diluted share.
Revenue by Segment
Forward Guidance
The Company reaffirmed its previous guidance provided on May 30, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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