- SpartanNash Co (NASDAQ:SPTN) reported first-quarter FY22 sales growth of 4% to $2.76 billion, beating the consensus of $2.70 billion.
- Net sales for Food distribution increased 2.8% Y/Y, Retail grew 5.7%, and Military climbed 4.7%.
- The gross profit rose 7.8% Y/Y to $450.6 million, and the margin expanded 60 basis points to 16.3%.
- The operating margin was 1%, and operating income for the quarter fell 7% to $28.1 million.
- The company held $16.3 million in cash and equivalents as of April 23, 2022. Cash provided by operating activities totaled $10.0 million.
- Adjusted EBITDA increased 18.2% to $76.6 million.
- Adjusted EPS of $0.83 beat the analyst consensus of $0.64.
- Outlook: As announced on May 12, SpartanNash raised its FY22 sales outlook to $9.0 billion - $9.3 billion from $8.9 billion - $9.1 billion, versus the consensus of $9.03 billion.
- The company raised FY22 EPS guidance to $2.17 - $2.32 from $2.10 - $2.25, against the consensus of $2.11.
- Price Action: SPTN shares traded higher by 3.53% at $35.16 on the last check Thursday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Why SpartanNash Shares Are Gaining Today
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks