SpartanNash Lowered FY24 Net Sales Outlook To $9.50B-$9.70B (From $9.70B-$9.90B) Vs. $9.73B Estimate; Reiterated Adjusted EPS Outlook At $1.85-$2.10 Vs. $2.00 Est.
Portfolio Pulse from Benzinga Newsdesk
SpartanNash has lowered its FY24 net sales outlook to $9.50B-$9.70B from the previous range of $9.70B-$9.90B, which is below the $9.73B estimate. However, the company has reiterated its adjusted EPS outlook at $1.85-$2.10, compared to the $2.00 estimate.
May 30, 2024 | 11:08 am
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SpartanNash has revised its FY24 net sales outlook downward to $9.50B-$9.70B from $9.70B-$9.90B, which is below the $9.73B estimate. However, the company has maintained its adjusted EPS outlook at $1.85-$2.10, compared to the $2.00 estimate.
The downward revision of the net sales outlook is likely to negatively impact investor sentiment, as it falls below the market estimate of $9.73B. However, the maintained EPS outlook may provide some support, but the overall impact is expected to be negative in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100