In a press release dated October 20th Albertsons Companies Inc. (ACI) announced results for the second quarter of FY 2020 ending September 12th.
The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as US$ x 1,000 except EPS)
|
2nd Quarter Ending
|
September 12th 2020
|
September 7th 2019
|
Difference (%)
|
|
Sales:
|
$15,757,600
|
$14,176,700
|
+11.2
|
|
Gross profit:
|
$4,574,900
|
$3,941,500
|
+16.1
|
|
Operating income:
|
$562,000
|
$582,400
|
-3.5
|
|
Pre-tax Income
Net Income
|
$395,700
$284,500
|
$376,700
$294,800
|
+5.0
-3.5
|
|
Diluted earnings per share:
|
$0.49
|
$0.51
|
-3.9
|
|
Gross Margin (%)
|
29.0
|
27.8
|
+4.3
|
|
Operating Margin (%)
|
3.5
|
4.1
|
-14.6
|
|
Profit Margin (%)1
|
1.8
|
2.1
|
-14.3
|
|
Long-term Debt and Leases:
|
$16,077,000
|
$15,938,900
|
+0.9
|
|
12 Months Trailing:
|
|
Return on Assets (%)
|
4.3
|
|
Return on Equity (%)
|
41.4
|
|
Operating Margin (%)
|
2.6
|
|
Profit Margin (%)
|
1.5
|
|
Total Assets
|
$26,469,600
|
$24,735,100
|
+7.0
|
|
Market Capitalization
|
$7,130,000
|
- Note: Interest Q2 2020 $128 million. Q2 2019 $178 million.
52-Week Range in Share Price: $12.91 to $16.65 50-day Moving average $13.82
Market Close October 19th. Pre-release $14.38. Close October 20th $15.22 (+5.8 percent).
Forward P/E 7.3
Same-store sales growth, 13.8 percent. Digital sales growth 248 percent
Number of stores 2,252.
Commenting on results, Vivek Sankaran president and CEO stated "we continue to successfully execute against our strategic priorities, which translated into outstanding second quarter results. We have a value proposition that is resonating with customers and driving market share gains across all of our markets. "He added "we are in the early stages of a transformation to become a modern, growing food retailer providing a wide assortment of high quality fresh and essential goods to customers, and we remain well-positioned to generate differentiated performance and deliver an excellent shopping experience."
The Company provided guidance for FY 2020 including a 15.5 percent increase in sales and an EPS range of $2.75 to $2.85.