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Jun 30, 2023
Natural Grocers Q3 2023 Earnings Report
Reported strong third quarter results driven by top-line momentum and comparable store sales acceleration.
Key Takeaways
Natural Grocers announced strong Q3 2023 results with a 5.8% increase in net sales to $281.8 million, a 4.4% increase in daily average comparable store sales, and an 82.4% growth in diluted earnings per share to $0.31. The company also raised its outlook for fiscal year 2023.
Net sales increased by 5.8% to $281.8 million.
Daily average comparable store sales increased by 4.4%.
Operating income increased by 60.8% to $9.1 million.
Diluted earnings per share increased by 82.4% to $0.31.
Natural Grocers
Natural Grocers
Forward Guidance
The Company is raising its fiscal 2023 outlook for comparable store sales and diluted earnings per share based upon year-to-date performance and current trends. The Company is also refining its outlook for the number of new stores and relocations/remodels. The outlook reflects recent results, current operating trends, consumer trends, and the uncertainty of the economic environment, including inflationary factors.
Positive Outlook
- Raising fiscal 2023 outlook for comparable store sales.
- Raising fiscal 2023 outlook for diluted earnings per share.
- Refining outlook for the number of new stores.
- Refining outlook for the number of relocations/remodels.
- Reflects recent results and current operating trends.
Challenges Ahead
- Uncertainty of the economic environment.
- Inflationary factors.
- Consumer trends.
- Potential changes in the number of new stores.
- Potential changes in the number of relocations/remodels.