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Oct 08, 2022
SpartanNash Q3 2022 Earnings Report
Announced strong third quarter fiscal 2022 results and reaffirmed recently raised fiscal year 2022 guidance.
Key Takeaways
SpartanNash reported a strong third quarter with net sales increasing by 10.8% to $2.3 billion, driven by growth in both the Wholesale and Retail segments, which were favorably impacted by inflation. The company's adjusted EBITDA increased by 11.3% to $57.3 million, and retail comparable sales increased by 8.0%. However, net earnings decreased by 37.6% to $9.5 million compared to the prior year quarter.
Net sales increased 10.8% to $2.3 billion compared to the prior year quarter.
Retail comparable sales increased 8.0% for the quarter.
Net earnings decreased 37.6% to $9.5 million compared to the prior year quarter.
Adjusted EBITDA increased 11.3% to $57.3 million compared to the prior year quarter.
Revenue by Segment
Forward Guidance
Given strong year-to-date results through the third quarter, the Company raised its fiscal year 2022 guidance.
Positive Outlook
- Net sales to a range of $9.5 billion to $9.7 billion, compared to the prior guidance of $9.3 billion to $9.6 billion.
- Retail comp sales 6.0% to 7.5%
- Wholesale sales* 6.5% to 8.0%
- Adjusted EBITDA to a range of $237 million to $242 million, compared to the prior guidance of $227 million to $240 million.
- Adjusted EPS $2.27 to $2.37
Challenges Ahead
- Capital expenditures and IT capital $100 million to $110 million
- Depreciation and amortization $90 million to $100 million
- Interest expense $21 million to $23 million
- Income tax rate 25.5% to 26.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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