Sweet & Sour Quarter: SpartanNash Beats Q1 Profits But Lowers FY24 Sales Forecast
Portfolio Pulse from Lekha Gupta
SpartanNash Company (NASDAQ:SPTN) reported mixed Q1 FY24 results, with a revenue decline of 3.5% Y/Y to $2.81 billion, missing estimates. Adjusted EPS of $0.53 beat expectations, but the company lowered its FY24 sales forecast. Shares are down 3.40%.
May 30, 2024 | 4:23 pm
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SpartanNash reported a mixed Q1 FY24 with revenue declining 3.5% Y/Y to $2.81 billion, missing estimates. Adjusted EPS of $0.53 beat expectations. The company lowered its FY24 sales forecast, leading to a 3.40% drop in shares.
The revenue miss and lowered FY24 sales forecast are negative indicators, despite the EPS beat. This has led to a 3.40% drop in share price, reflecting investor concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100