Albertsons Companies, Inc. ( (ACI) ) has released its Q4 earnings. Here is a breakdown of the information Albertsons Companies, Inc. presented to its investors.
Albertsons Companies, Inc. is a prominent food and drug retailer in the United States, operating over 2,270 stores across 34 states under various well-known banners. The company reported its fourth quarter and full-year fiscal 2024 results, highlighting a steady increase in identical sales and a significant boost in digital sales. Despite a decrease in net income compared to the previous year, Albertsons saw a rise in loyalty members and continued investment in its digital platforms.
In the fourth quarter of fiscal 2024, Albertsons achieved a 2.3% increase in identical sales and a 24% rise in digital sales, contributing to net sales of $18.8 billion. The company reported a net income of $172 million, or $0.29 per share, and an adjusted net income of $270 million, or $0.46 per share. For the full year, identical sales grew by 2.0%, while digital sales maintained a 24% increase, resulting in a net income of $959 million.
Key financial metrics included an adjusted EBITDA of $855 million for the fourth quarter and $4,005 million for the fiscal year. The company also announced a 25% increase in its quarterly dividend and a share repurchase program of up to $2 billion. Albertsons continued to invest in its core business, completing 127 store remodels and opening 11 new stores.
Looking ahead, Albertsons is optimistic about fiscal 2025, expecting identical sales growth between 1.5% and 2.5% and adjusted EBITDA in the range of $3.8 billion to $3.9 billion. The company plans to continue its investment in digital platforms and anticipates growth consistent with its long-term goals, despite fiscal 2025 being an investment year.