Albertsons Companies Inc ACI shares are trading lower in premarket on Tuesday after the fourth-quarter earnings result.
The company reported fourth-quarter FY24 sales growth of 2.5% year-on-year to $18.8 billion, beating the analyst consensus estimate of $18.79 billion.
The increase was driven by 2.3% increase in identical sales, with strong growth in pharmacy sales being the primary driver of the identical sales increase. Digital sales improved 24%.
Gross margin rate contracted 60 basis points to 27.4%. The operating margin was 1.5%, and operating income for the quarter declined 35% to $276 million.
Adjusted EBITDA of $855.1 million decreased 6.6% Y/Y. Adjusted EPS of 46 cents beat the consensus estimate of 40…
