ACI

Albertsons Q2 Profit Down, Adj. Earnings Beat View

(RTTNews) - Food and drug retailer Albertsons Companies, Inc. (ACI) reported Tuesday that its second-quarter net income was $266.9 million or $0.46 per share, down from $342.7 million or $0.59 per share last year.

Adjusted net income was $367.7 million or $0.63 per share, compared to $418.3 million or $0.72 per share last year.

On average, 14 analysts polled by Thomson Reuters expected earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales and other revenue was $18.3 billion, compared to $17.9 billion last year. The Street was looking for revenues of $18.28 billion for the quarter.

The increase was driven by the company's 2.9 percent increase in identical sales, with strong growth in pharmacy sales, a 19 percent increase in digital sales, and retail price inflation across most categories.

In pre-market activity on the NYSE, Albertsons shares were trading at $22.04, down 2.04 percent.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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