Kroger's stock leaps to near 2-year high after profit beat, and indicates continued pursuit of Albertsons buyout [MarketWatch]
Albertsons Companies, Inc. Class A (ACI)
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Source: MarketWatch
and same-store sales that beat expectations, and indicated it was still pursuing its acquisition of Albertsons Companies Inc. ACI, despite regulatory pushback . Net income for the quarter through January rose to $736 million, or $1.01 a share, from $450 million, or 62 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.34 beat the FactSet consensus of $1.13. Sales grew 6.4% to $37.064 billion, in line with the FactSet consensus of $37.067 billion, while the 0.8% decrease in same-store sales beat expectations of a 1.4% decline. Gross margin improved to 22.7% from 21.8% a year ago. The company said it expects to keep paying its dividend, and increase it over time, but has paused share repurchases to prioritize paying down debt following the proposed merger with Albertsons. For 2024, Kroger expects adjusted EPS of $4.30 to $4.50, compared with the FactSet consensus of $4.30. The stock has gained 10.5% year to date through Wednesday, whil
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ACI
News
- Albertsons Reduces Food Waste by Thinking About What Happens at Home: 'That's Where the Power of the Opportunity Is' [Yahoo! Finance]Yahoo! Finance
- Albertsons Companies, Inc. (NYSE: ACI) was upgraded by analysts at Roth Capital from a "neutral" rating to a "buy" rating.MarketBeat
- Albertsons (ACI) Q4 Earnings In Line, Sales Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Albertsons Companies, Inc. (NYSE: ACI) had its "market perform" rating re-affirmed by analysts at Telsey Advisory Group. They now have a $27.25 price target on the stock.MarketBeat
- Albertsons Companies, Inc. (NYSE: ACI) was upgraded by analysts at Roth Mkm from a "neutral" rating to a "buy" rating. They now have a $24.00 price target on the stock.MarketBeat
ACI
Earnings
- 4/22/24 - Beat
ACI
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- ACI's page on the SEC website