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Dec 02, 2023
Albertsons Q3 2024 Earnings Report
Reported solid operating and financial performance driven by investments in the Customers for Life strategy.
Key Takeaways
Albertsons Companies, Inc. reported a 1.2% increase in net sales to $18.77 billion for the third quarter of fiscal 2024. Identical sales increased by 2.0%, driven by strong pharmacy sales, and digital sales grew by 23%. Net income was $400.6 million, or $0.69 per share, while adjusted net income was $420.3 million, or $0.71 per share.
Identical sales increased 2.0%.
Digital sales increased 23%.
Loyalty members increased 15% to 44.3 million.
Net income of $401 million, or $0.69 per share.
Albertsons
Albertsons
Forward Guidance
The Company is providing an updated fiscal 2024 outlook and expects its financial results to be as follows:
Positive Outlook
- Identical sales growth in the range of 1.8% to 2.0% (previously 1.8% to 2.2%)
- Adjusted EBITDA in the range of $3.95 billion to $3.99 billion (previously $3.90 billion to $3.98 billion)
- Adjusted net income per Class A common share in the range of $2.25 to $2.31 per share (previously $2.20 to $2.30 per share)
- Effective income tax rate in the range of 15% to 16% (previously 23%)
- Capital expenditures in the range of $1.8 billion to $1.9 billion (unchanged)