Albertsons (NYSE:ACI) earnings for the retail company’s fiscal first quarter of 2020 have ACI stock falling on Monday. That’s despite the company reporting adjusted earnings per share of $1.35 on revenue of $22.75 billion. Both of these are better than Wall Street’s estimates of $1.32 on revenue of $22.79 billion.
Let’s take a deeper dive into the most recent Albertsons earnings report.
- Adjusted per-share earnings are up 350% from 30 cents during the same time last year.
- Revenue for the quarter comes in 21.4% higher than the $18.74 billion reported in the fiscal first quarter of 2019.
- Operating income of $971.8 million is a 202.3% increase year-over-year from $321.5 million.
- The Albertsons earnings report also has it bringing in a net income of $586.2 million.
- That’s a 1,096.3% jump from its net income of $49 million in the same period of the year prior.
Vivek Sankaran, president and CEO of Albertsons, said this about the current earnings.
“We generated strong financial performance in the first quarter, including robust cash flow and enhanced liquidity, which support our continued investment to benefit our associates, customers, communities and stockholders.”
Albertsons isn’t providing guidance at this time. The company says the reason behind this is unpredictable markets caused by the novel coronavirus. Many other companies are withholding outlooks during the pandemic.
ACI stock was down 5.5% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.