Why SpartanNash Stock Is Falling After Q1 Earnings
Portfolio Pulse from Anusuya Lahiri
SpartanNash reported Q1 FY23 sales growth of 5.2% YoY to $2.91 billion, missing the consensus of $2.95 billion. Retail comparable sales increased 5.4% YoY, but gross margin contracted 90 basis points to 15.4%. Adjusted EPS of $0.64 beat the analyst consensus of $0.63. The company reiterated its FY23 sales outlook and reaffirmed its 2025 long-term financial targets.
June 01, 2023 | 2:17 pm
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NEUTRAL IMPACT
SpartanNash's Q1 FY23 sales growth missed consensus, but adjusted EPS beat estimates. The company reiterated its FY23 sales outlook and reaffirmed its 2025 long-term financial targets.
SpartanNash's Q1 sales growth missed expectations, which could negatively impact the stock price. However, the company's adjusted EPS beat estimates and it reiterated its FY23 outlook and 2025 targets, which could offset the negative impact and result in a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100