Albertsons Companies (ACI) Q1 FY2024 earnings: revenue $24.3 billion, up 0.9% on the year

Albertsons Companies, Inc. (ACI) reported revenue of $24.3 billion for Q1 FY2024, the quarter ended 15 June 2024, up 0.9% on the same quarter a year earlier. Net income was $241 million, down 42.3% on the year, and diluted earnings per share $0.41. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2024.

Revenue$24.3 billionup 0.9%

Net income$241 milliondown 42.3%

Diluted EPS$0.41

QuarterQ1 FY2024ended 15 June 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	24,265	18,340	n/a	n/a
Cost of revenue	17,526	13,195	n/a	n/a
Gross profit	6,739	5,144	n/a	n/a
Gross margin	27.8%	28.0%	n/a
Selling, general and administrative	6,274	4,717	n/a	n/a
Operating income	460	426	n/a	n/a
Operating margin	1.9%	2.3%	n/a
Pre-tax income	310	315	n/a	n/a
Income tax	69.2	64.3	n/a	n/a
Effective tax rate	22.3%	20.4%	n/a
Net income	241	250	n/a	n/a
Net margin	1.0%	1.4%	n/a
Diluted EPS	$0.41	$0.43	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	961	929	n/a	n/a
Capital expenditure	543	496	n/a	n/a
Free cash flow	418	432	n/a	n/a
Free cash flow margin	1.7%	2.4%	n/a
Cash from investing	-538	-418	n/a	n/a
Cash from financing	-321	-545	n/a	n/a
Depreciation and amortisation	552	419	n/a	n/a
Share-based compensation	36.7	24.0	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	69.5	69.1	n/a	n/a
Dividend per share	$0.12	$0.12	n/a	n/a
Diluted shares, weighted	581m	583m	n/a	n/a
Shares outstanding at period end	579m	577m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	2,913	2,748	n/a	n/a
Debt	7,775	7,783	n/a	n/a
Operating lease liabilities	5,610	5,493	n/a	n/a
Finance lease liabilities	n/a	392	n/a	n/a
Other liabilities	9,779	9,805	n/a	n/a
Total liabilities and equity	26,077	26,221	n/a	n/a
Goodwill	1,201	1,201	n/a	n/a
Intangible assets	2,415	2,434	n/a	n/a
Cash and equivalents	291	189	n/a	n/a
Receivables	809	724	n/a	n/a
Inventory	4,720	4,945	n/a	n/a
Other assets	16,640	16,727	n/a	n/a
Total assets	26,077	26,221	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026
Revenue	18,291	18,557	18,340	24,265	18,552	18,774	18,800	24,881	18,916	19,124	20,252	24,942
Cost of revenue	13,249	13,360	13,195	17,526	13,430	13,528	13,650	18,142	13,809	13,875	14,739	18,304
Gross profit	5,042	5,197	5,144	6,739	5,121	5,246	5,149	6,738	5,107	5,249	5,513	6,638
Gross margin	28%	28%	28%	28%	28%	28%	27%	27%	27%	27%	27%	27%
SG&A	4,596	4,607	4,717	6,274	4,785	4,718	4,837	6,321	4,807	4,760	6,003	6,379
Operating income	454	566	426	460	292	518	276	449	295	490	-507	264
Operating margin	2%	3%	2%	2%	2%	3%	1%	2%	2%	3%	-3%	1%
Pre-tax income	334	456	315	310	186	415	218	311	220	378	-641	114
Tax rate	20%	21%	20%	22%	22%	3%	21%	24%	23%	22%	n/a	26%
Net income	267	361	250	241	146	401	172	236	168	293	-481	84.7
Net margin	1%	2%	1%	1%	1%	2%	1%	1%	1%	2%	-2%	0%
Diluted EPS	$0.46	$0.62	$0.43	$0.41	$0.25	$0.69	$0.29	$0.41	$0.30	$0.55	-$0.94	$0.17
Operating cash flow	510	383	929	961	413	548	758	754	528	368	717	729
Capital expenditure	462	451	496	543	409	494	484	585	366	462	427	522
Free cash flow	47.8	-67.8	432	418	3.9	53.6	274	170	162	-94.7	290	207
Buybacks	n/a	n/a	n/a	0.0	0.0	0.0	82.5	315	235	650	278	225
Dividends paid	69.0	69.1	69.1	69.5	69.5	69.5	86.6	85.7	83.9	77.1	76.0	84.0
Shares outstanding	576m	576m	577m	579m	579m	579m	576m	560m	549m	514m	495m	485m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 15 June 2024, filed 23 July 2024, accession 0001646972-24-000165: the filing on EDGAR. All of Albertsons Companies, Inc.'s filings: EDGAR company page.

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