SpartanNash (SPTN) Tops Q2 EPS by 10c, Revenues Miss; Raises FY20 EPS Guidance Above Consensus

SpartanNash (NASDAQ: SPTN) reported Q2 EPS of $0.73, $0.10 better than the analyst estimate of $0.63. Revenue for the quarter came in at $2.18 billion versus the consensus estimate of $2.26 billion.

Second Quarter Fiscal 2020 Highlights

• Net sales growth of 9.4% to $2.18 billion from $2.00 billion in the prior year quarter, representing the seventeenth consecutive quarter of growth.
• Retail comparable store sales of 17.1% were positive for the fourth consecutive quarter, representing a continuation of trends driven by increased consumer demand related to the COVID-19 pandemic.
• EPS of $0.80 per share, compared to a loss of $0.19 per share in the prior year quarter; adjusted EPS of $0.73 per share, an increase of 115% over the prior year quarter.
• Adjusted EBITDA increase of 33.5%, to $59.2 million from $44.3 million in the prior year quarter.
• Cash generated from operating activities of $69.0 million during the second quarter, leading to an over $40 million pay down of long-term debt.
• Raised full year adjusted EPS outlook to a range of $2.40 to $2.60 per share, and full year reported EPS outlook to a range of $2.13 to $2.41 per share.

“The strength and resiliency of our team was demonstrated by their ability to continue to execute in a dynamic operating environment as they supported the surge in consumer demand related to the COVID-19 pandemic, which enabled us to exceed our financial expectations for the second quarter,” said Dennis Eidson, Interim President and Chief Executive Officer. “We are pleased with the collaboration across our organization and our ability to respond to the challenges associated with this incremental demand, while remaining focused on our priority of ensuring the wellbeing and safety of our associates and customers. Based on our strong year-to-date results and expectations for the remainder of the fiscal year, we are raising our full year guidance.”

GUIDANCE:

SpartanNash sees FY2020 EPS of $2.40-$2.60, versus the consensus of $2.07.

For earnings history and earnings-related data on SpartanNash (SPTN) click here.

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