Natural Grocers (NGVC) Reports In-Line Q4 EPS, Revenues Miss; Offers FY20 EPS Guidance
Natural Grocers (NYSE: NGVC) reported Q4 EPS of $0.06, in-line with the analyst estimate of $0.06. Revenue for the quarter came in at $227.2 million versus the consensus estimate of $229.59 million.
Highlights for Fourth Quarter and Fiscal 2019 Compared to Fourth Quarter and Fiscal 2018
- Net sales increased 4.5% to $227.2 million in the fourth quarter and increased 6.4% to $903.6 million in fiscal 2019;
- Daily average comparable store sales increased 1.8% in the fourth quarter and increased 3.1% in fiscal 2019;
- Operating income was $2.8 million in the fourth quarter and $16.8 million in fiscal 2019;
- Net income was $1.4 million with diluted earnings per share of $0.06 in the fourth quarter and was $9.4 million with diluted earnings per share of $0.42 in fiscal 2019;
- Adjusted EBITDA was $10.3 million in the fourth quarter and $46.1 million in fiscal 2019; and
- Opened one new store and relocated one store in the fourth quarter, resulting in a 3.4% new store growth rate for the twelve-month period ended September 30, 2019.
"We are pleased with our fourth quarter and full year results, achieving our guidance for daily average comparable store sales growth while exceeding our diluted earnings per share guidance," stated Kemper Isely, Co-President. "As we look forward to fiscal 2020, we remain focused on driving profitable growth and will continue to execute our operational and marketing initiatives, while leveraging our differentiated model and commitment to our founding principles. Consistent with our focus on driving enhanced shareholder value, we are pleased to announce that we have declared our first quarterly cash dividend. The payment of a quarterly cash dividend is a reflection of our confidence in our outlook and strong financial position. The amendment and extension of our $50 million credit facility further strengthens our financial position."
GUIDANCE:
Natural Grocers sees FY2020 EPS of $0.37-$0.45, versus the consensus of $0.41.
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