- SpartanNash Co (NASDAQ:SPTN) reported first-quarter FY22 sales growth of 4% to $2.76 billion, beating the consensus of $2.70 billion.
- Net sales for Food distribution increased 2.8% Y/Y, Retail grew 5.7%, and Military climbed 4.7%.
- The gross profit rose 7.8% Y/Y to $450.6 million, and the margin expanded 60 basis points to 16.3%.
- The operating margin was 1%, and operating income for the quarter fell 7% to $28.1 million.
- The company held $16.3 million in cash and equivalents as of April 23, 2022. Cash provided by operating activities totaled $10.0 million.
- Adjusted EBITDA increased 18.2% to $76.6 million.
- Adjusted EPS of $0.83 beat the analyst consensus of $0.64.
- Outlook: As announced on May 12, SpartanNash raised its FY22 sales outlook to $9.0 billion - $9.3 billion from $8.9 billion - $9.1 billion, versus the consensus of $9.03 billion.
- The company raised FY22 EPS guidance to $2.17 - $2.32 from $2.10 - $2.25, against the consensus of $2.11.
- Price Action: SPTN shares traded higher by 3.53% at $35.16 on the last check Thursday.
