In a July 29th release, Albertsons Companies Inc (ACI) reported on first quarter results for FY 2021 covering the period ending June 19th. For the quarter, the company earned $444.8 million on revenue of $21,269 million with an EPS of $0.78.  For the comparable first quarter of fiscal 2020, net earnings were $536.2 million on revenue of $22,751 million with an EPS of $1.00. 

Gross margin for the most recent quarter was 29.1 percent and SGA was 25.9 percent of sales.  Quarterly sales declined by 10 percent but were up 16.5 percent on a two-year stacked basis.  Albertsons made significant progress in digital ordering with a growth of 276 percent over the corresponding quarter of 2020.  Albertsons operates 2,278 stores under a variety of banners.

In commenting on results, Vivek Sankaran, president and CEO stated, “Our performance is clear evidence of the structure and enhancements we have made to our business as well our ability to retain market share gains compared to pre-pandemic levels.”  He added, “We are closer to our customers than ever before and are well positioned for continual success as we execute on our strategic priorities, leveraging our strength in fresh, Own Brands and our accelerating digital transformation.”

Albertsons Companies has a market capitalization of $10.1 billion with $16.2 billion in long-term debt and lease obligations. The company has traded over the past 52-weeks in range of $12.91 to $22.29 with a 50-day moving average of $20.09.

On a trailing 12-month basis, operating margin was 3.0 percent and profit margin 1.0 percent.  The Company generated a return on assets of 4.8 percent and 23.3 percent on equity.  Of the equity, 73.7 percent is held by institutions and 15 percent by insiders. On July 15, 2021, 12.1 percent of the float was short.