- Albertsons Companies Inc (NYSE:ACI) reported a fourth-quarter FY21 sales growth of 10.2% to $17.4 billion, beating the consensus of $16.74 billion.
- Identical sales increased by 7.5%; on a two-year stacked basis, Identical sales growth was 19.3%.
- Digital sales increased 5%; on a two-year stacked basis, digital sales growth was 287%.
- Gross profit increased 9.3% Y/Y to $4.9 billion. Gross profit margin contracted 20 bps to 28.7%.
- Selling and administrative expenses fell 8.6% Y/Y to $4.3 billion and were 24.9% of sales.
- The operating margin was 3.8%, and operating income for the quarter was $664.3 million versus a loss of $(174.8) million last year.
- Adjusted EPS of $0.75 beat the analyst consensus of $0.64.
- Adjusted EBITDA for the quarter rose 17% Y/Y to $1.1 billion.
- Net cash provided by operating activities declined 10% Y/Y to $3.5 billion. The company held $2.9 billion in cash and equivalents as of February 26, 2022.
- Dividend: Albertsons declared the next quarterly dividend of $0.12 per share of Class A common stock payable on May 10, 2022, to stockholders of record as of April 26, 2022.
- Outlook: Albertsons sees FY22 Identical sales growth of 2% - 3%. The company expects FY22 adjusted EPS of $2.70 - $2.85 versus the consensus of $2.78.
- Adjusted EBITDA is expected to be $4.15 billion - $4.25 billion
- Price Action: ACI shares are trading lower by 3.39% at $33.60 in premarket on the last check Tuesday.
