Albertsons Q1 Earnings Beats Estimates, Sees $130M Headwind To Adjusted EBITDA In FY23
Portfolio Pulse from Nabaparna Bhattacharya
Albertsons Companies, Inc. (NYSE:ACI) reported Q1 net sales of $24.05 billion, beating the analyst consensus of $23.95 billion. Sales rose 3.17% Y/Y. Adjusted EPS was $0.93, beating the street view of $0.85. The company expects a $130 million headwind to Adjusted EBITDA for the remaining three quarters of fiscal 2023 due to a decline in providing COVID-19 vaccinations and at-home test kits.
July 25, 2023 | 3:50 pm
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Albertsons beat Q1 estimates but expects a $130 million headwind to Adjusted EBITDA in FY23 due to fewer COVID-19 vaccinations and a reduced gross margin rate.
Albertsons beat Q1 estimates, which is positive for the stock. However, the company's warning of a $130 million headwind to Adjusted EBITDA in FY23 due to fewer COVID-19 vaccinations and a reduced gross margin rate is negative news that could put downward pressure on the stock.
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