Albertsons Shares Fall 6% Despite Earnings, Revenue Beat
2022.04.12 20:20
By Sam Boughedda
Investing.com — Albertsons Companies (NYSE:ACI) reported its fourth-quarter and full-year results on Tuesday, resulting in a fall in its stock price.
In the fourth quarter, the company reported revenue of $17.38 billion. This was a beat on analysts’ forecasts of $16.74 billion. Earnings per share for the grocery company also beat estimates of $0.64, reaching $0.75 for the quarter. Digital sales for the fourth quarter increased 5%.
For the full year, Albertsons reported earnings per share of $3.07 on revenue of $71.89 billion. In addition, full-year digital sales also increased by 5%.
“We are pleased with our fourth quarter and full-year 2021 results and the continuing momentum we are seeing as we enter 2022,” said Vivek Sankaran, CEO. “Our strategy is working, and we are executing well against industry-wide pressures.”
The company provided an outlook for the upcoming fiscal year, stating it expects EBITDA to be between $4.15 billion and $4.25 billion, while earnings per share are forecasted to be in the range of $2.70 and $2.85.
Albertson’s share price tumbled 6% Tuesday, despite the earnings and revenue beat.
