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Dec 31, 2021
Natural Grocers Q1 2022 Earnings Report
Delivered a strong performance driven by momentum from the fourth quarter, increased net sales, and favorable sales growth with expense leverage.
Key Takeaways
Natural Grocers announced a strong first quarter with a 4.6% increase in net sales to $277.3 million, driven by a 3.8% increase in daily average comparable store sales. Net income increased significantly by 145.5% to $8.9 million, with diluted earnings per share rising to $0.39. Adjusted EBITDA also saw a substantial increase of 44.7% to $19.5 million, reflecting favorable sales growth and effective expense management.
Net sales increased 4.6% to $277.3 million.
Daily average comparable store sales increased 3.8%, and 16.5% on a two-year stacked basis.
Net income increased 145.5% to $8.9 million.
Diluted earnings per share was $0.39, up from $0.16 in the first quarter of fiscal 2021.
Forward Guidance
The Company is confirming its fiscal 2022 outlook reflecting current trends, including the uncertain COVID-19 pandemic environment. The Company expects:
Positive Outlook
- Number of new stores: 2
- Number of relocations/remodels: 2
Challenges Ahead
- Daily average comparable store sales growth
- Diluted earnings per share: $0.75 to $0.87
- Capital expenditures (in millions): $28 to $35
Historical Earnings Impact
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Avg. Return Before/After Earnings
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