Natural Grocers (NGVC) Reports Q1 EPS of $0.16, Revenues Beat; Offers FY21 EPS Mid-Point Guidance Below Consensus

February 4, 2021 5:08 PM EST
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Natural Grocers (NYSE: NGVC) reported Q1 EPS of $0.16, versus $0.08 reported last year. Revenue for the quarter came in at $265 million, versus $230.03 million reported last year.

Highlights for First Quarter Fiscal 2021 Compared to First Quarter Fiscal 2020

  • Net sales increased 15.2% to $265.0 million;
  • Daily average comparable store sales increased 12.7%;
  • Operating income increased 82.7% to $5.2 million;
  • Net income increased 94.4% to $3.6 million with diluted earnings per share of $0.16;
  • Adjusted EBITDA increased 25.5% to $13.2 million; and
  • Opened one new store, resulting in a 3.2% new store growth rate for the twelve-month period ended December 31, 2020.

"We had a strong start to fiscal 2021, with first quarter results reflecting robust sales and profitability growth. Daily average comparable store sales increased 12.7%, net sales increased 15.2% and net income increased 94.4%, compared to the first quarter of fiscal 2020. Our results continue to reflect strong increases in average basket size consistent with recent trends as customers made fewer shopping trips to our stores but increased their spend per trip. Our success is directly attributable to our commitment to our founding principles, which include providing the highest quality, healthy foods at an Always Affordable PriceSM. These principles truly speak to today's consumer," said Kemper Isely, Co-President. "We are extremely grateful for the dedication of each of our good4uSM Crew members. We continue to prioritize the safety of our customers and crew amidst the COVID-19 pandemic."

GUIDANCE:

Natural Grocers sees FY2021 EPS of $0.60-$0.70, versus the consensus of $0.68.

The Company is confirming its fiscal 2021 outlook, which was previously announced on November 19, 2020. The fiscal 2021 outlook reflects current trends in light of the rapidly evolving COVID-19 environment and related government mandates. While the Company cannot predict the duration or severity of the pandemic and related government mandates, the Company expects these factors will continue to impact its operations and financial performance through fiscal 2021.

For earnings history and earnings-related data on Natural Grocers (NGVC) click here.



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