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Grocery Outlet Holding (GO) Q2 FY2024 earnings: revenue $1.1 billion, up 11.7% on the year

Grocery Outlet Holding Corp. (GO) reported revenue of $1.1 billion for Q2 FY2024, the quarter ended 29 June 2024, up 11.7% on the same quarter a year earlier. Net income was $14 million, down 42.8% on the year, and diluted earnings per share $0.14. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2024.

Revenue$1.1 billionup 11.7%
Net income$14 milliondown 42.8%
Diluted EPS$0.14
QuarterQ2 FY2024ended 29 June 2024

The quarter, against the one before and a year earlier

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Revenue1,1291,037n/an/a
Cost of revenue779733n/an/a
Gross profit349304n/an/a
Gross margin30.9%29.3%n/a
Selling, general and administrative323303n/an/a
Operating income26.10.6n/an/a
Operating margin2.3%0.1%n/a
Pre-tax income20.5-2.6n/an/a
Income tax6.5-1.6n/an/a
Effective tax rate31.9%n/an/a
Net income14.0-1.0n/an/a
Net margin1.2%-0.1%n/a
Diluted EPS$0.14-$0.01n/an/a
$ million except per share.
Read moreFree 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

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Operating cash flow41.67.8n/an/a
Capital expenditure38.946.3n/an/a
Free cash flow2.7-38.4n/an/a
Free cash flow margin0.2%-3.7%n/a
Cash from investing-104-50.9n/an/a
Cash from financing63.0-5.1n/an/a
Share-based compensation7.08.1n/an/a
Buybacks25.06.2n/an/a
Dividends paid0.0n/an/an/a
Diluted shares, weighted100m100mn/an/a
Shares outstanding at period end99m100mn/an/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

LineQ2 FY2024Q1 FY2024A year earlierChange on the year
Shareholders' equity1,2211,225n/an/a
Debt379291n/an/a
Other liabilities1,4811,459n/an/a
Total liabilities and equity3,0812,975n/an/a
Fixed assets713681n/an/a
Goodwill777748n/an/a
Intangible assets76.980.2n/an/a
Cash and equivalents67.166.9n/an/a
Receivables10.611.7n/an/a
Other assets1,4361,387n/an/a
Total assets3,0812,975n/an/a

Questions

What was Grocery Outlet Holding's revenue in Q2 FY2024?

Grocery Outlet Holding (GO) reported revenue of $1.1 billion for Q2 FY2024, the quarter ended 29 June 2024, up 11.7% on the same quarter a year earlier.

How much did Grocery Outlet Holding earn in Q2 FY2024?

Net income for Q2 FY2024 was $14 million, down 42.8% on the year, and diluted earnings per share $0.14.

When did Grocery Outlet Holding report Q2 FY2024 results?

Grocery Outlet Holding filed its 10-Q for the quarter ended 29 June 2024 with the SEC on 7 August 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,0049901,0371,1291,1081,0981,1261,1801,1681,2151,1661,193
Cost of revenue688691733779763774783819813854821832
Gross profit316299304349345324342361355361345361
Gross margin31%30%29%31%31%30%30%31%30%30%30%30%
SG&A278280303323305313331337331333347340
Operating income37.618.90.626.140.311.4-22.512.822.8-235-17815.8
Operating margin4%2%0%2%4%1%-2%1%2%-19%-15%1%
Pre-tax income33.317.5-2.620.533.84.4-29.06.216.1-243-1849.2
Tax rate19%19%n/a32%29%47%n/a20%28%n/an/a39%
Net income27.114.1-1.014.024.22.3-23.35.011.6-218-1805.6
Net margin3%1%-0%1%2%0%-2%0%1%-18%-15%0%
Diluted EPS$0.27$0.14-$0.01$0.14$0.24$0.03-$0.24$0.05$0.12-$2.22-$1.83$0.06
Operating cash flow11927.27.841.623.039.558.973.617.372.352.643.1
Capital expenditure46.956.146.338.942.459.160.559.238.839.852.841.8
Free cash flow72.2-28.8-38.42.7-19.3-19.6-1.514.4-21.632.5-0.21.4
Buybacks0.02.66.225.025.025.00.00.00.00.0n/an/a
Dividends paid0.00.0n/a0.00.0n/an/an/an/an/an/an/a
Shares outstanding99m99m100m99m99m97m98m98m98m98m99m99m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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 29 June 2024, filed 7 August 2024, accession 0001771515-24-000130: the filing on EDGAR. All of Grocery Outlet Holding Corp.'s filings: EDGAR company page.

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