Stock Alert: Albertsons Companies Drops 6% Despite Better-than-expected Results
Shares of food and drug retailer Albertsons Companies, Inc. (ACI) are down more than 6% Monday morning despite reporting better-than-expected fourth-quarter results.
Excluding items, adjusted earnings of $0.60 per share beat the average estimate of analysts polled by Thomson Reuters at $0.51 per share.
The company reported net loss of $144.2 million or $0.37 per share in the fourth quarter compared with net income of $67.8 million or $0.12 per share in the same quarter a year ago.
Sales and other revenue increased to $15.8 billion during the fourth quarter from $15.4 billion last year, driven by 282% growth in digital sales. The consensus estimate was for $15.67 billion.
Looking forward to the full-year, the company sees adjusted earnings per share to be in the range of $1.95 to $2.05. Analysts’ estimates stands at $1.87.
ACI, currently at $17.89, has been trading in the range of $12.91- $20.89 in the past 52 weeks.
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