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Grocery retailer Albertsons (NYSE:ACI) will be reporting results this Thursday before the bell. Here’s what to expect.
Albertsons met analysts’ revenue expectations last quarter, reporting revenues of $19.12 billion, up 1.9% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ EBITDA estimates but gross margin in line with analysts’ estimates.
Is Albertsons a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Albertsons’s revenue to grow 7.7% year on year, improving from the 2.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Albertsons has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Albertsons’s peers in the non-discretionary retail segment, only Kroger has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 2.2%. The stock price was unchanged following the results.
Read our full analysis of Kroger’s earnings results here.
Investors in the non-discretionary retail segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. Albertsons is up 7.5% during the same time and is heading into earnings with an average analyst price target of $20.25 (compared to the current share price of $14.64).
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