Albertsons Q2 Sales Rise, But CEO Expects Competitive And Margin Pressure In 2024 [Yahoo! Finance]
Albertsons Companies, Inc. Class A (ACI)
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Source: Yahoo! Finance
The gross margin rate was flat year-over-year at 27.6%. The operating margin was 1.6%, down 91 bps, and operating income for the quarter declined 35.7% to $292 million. Excluding fuel and LIFO expenses, the gross margin declined 44 bps compared to a year ago. Adjusted EBITDA of $901 million decreased 7.8% YoY, and the margin declined 50 bps to 4.85%. Adjusted EPS of $0.51 (-19.1% YoY), beating the consensus estimate of $0.48. As of September 7, 2024, the company held $284.2 million in cash and equivalents. Operating cash flow totaled $1.374 billion, compared to $1.347 billion a year ago. As of September 7, 2024, net debt totaled $7.908 billion, and the net debt ratio was 1.86, compared to 1.82 a year ago. “As we look ahead to the balance of fiscal 2024, we expect to see continuing headwinds related to investments in associate wages and benefits, an increasing mix of our pharmacy and digital businesses which carry lower margins, and an increasingly competitive backdrop. We e
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- Albertsons Companies, Inc. (NYSE: ACI) had its "buy" rating re-affirmed by analysts at Tigress Financial. They now have a $27.00 price target on the stock.MarketBeat
- Albertsons Companies, Inc. (NYSE: ACI) was upgraded by analysts at Melius Research from a "hold" rating to a "buy" rating. They now have a $24.00 price target on the stock.MarketBeat
ACI
Earnings
- 10/15/24 - Beat
ACI
Sec Filings
- 11/12/24 - Form 4
- 11/12/24 - Form 4
- 11/12/24 - Form 4
- ACI's page on the SEC website