SpartanNash Co. Reports Q3 Fiscal 2024 Results

SpartanNash Co. ( (SPTN) ) has released its Q3 earnings. Here is a breakdown of the information SpartanNash Co. presented to its investors.

SpartanNash Co., a prominent food solutions company, operates in the wholesale and retail grocery sectors, serving various customers including independent and chain grocers, e-commerce platforms, and U.S. military commissaries through its extensive supply chain network.

SpartanNash Co. has released its third-quarter fiscal 2024 results, reporting a slight decrease in net sales to $2.25 billion, attributed to lower volume in its Wholesale segment. However, the Retail segment experienced a 1.9% increase in sales, bolstered by recent acquisitions, despite a decline in comparable store sales.

Key financial metrics reveal that while the Wholesale segment saw a 1.6% decrease in net sales, the Retail segment’s growth helped offset this decline. The company’s net earnings remained stable at $0.32 per diluted share, consistent with the previous year. Adjusted EPS decreased marginally to $0.48 from $0.54, and adjusted EBITDA was slightly down to $60.5 million from $60.9 million. SpartanNash also noted a significant increase in cash from operations, up by 28.8% to $123.3 million, underscoring effective working capital management.

Looking ahead, SpartanNash has updated its fiscal 2024 guidance to reflect current market conditions and trends. The company expects total net sales to remain between $9.5 billion and $9.7 billion, with adjusted EBITDA projected between $252 million and $257 million. For fiscal 2025, SpartanNash anticipates low-single-digit topline growth and mid-single-digit adjusted EBITDA growth.

Overall, SpartanNash is poised to continue its strategic initiatives, focusing on both organic and inorganic growth, while navigating the challenges presented by the current economic environment.