Operator I would now like to turn the call over to Kayleigh Campbell, Head of Investor Relations. Good morning, and welcome to the SpartanNash Company second quarter 2023 earnings conference call. On the call today from the Company are President and Chief Executive Officer, Tony Sarsam, and Executive Vice President and Chief Financial Officer, Jason Monaco. Before we begin, the Company would like to remind you that today's discussion will include a number of forward-looking statements. These statements are ...

SpartanNash Company (NASDAQ:SPTN) Q1 2023 Earnings Conference Call June 1, 2023 8:30 AM ET Conference Call Participants Kayleigh Campbell Kayleigh Campbell - Head of IR Tony Sarsam - President and CEO Jason Monaco - EVP and CFO Operator Good morning and welcome to the SpartanNash CompanyÂ's First Quarter 2023 Earnings Conference Call. On the call today from the company are President and Chief Executive Officer, Tony Sarsam; and Executive Vice President and Chief Financial Officer, Jason Monaco. By now every ...

SpartanNash 1 The matters discussed in this presentation, in the Company's press releases, and in the Company's website-accessible conference calls with analysts include forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), about the plans, strategies, objectives, goals or expectations of the Company. These forward-looking statements may be identifiable by words or phrases ...

Financial Performance - Net sales increased by $712.1 million, or 8.0%, to $9.64 billion in 2022 compared to $8.93 billion in 2021, driven by both Wholesale and Retail segments [133]. - Wholesale segment net sales rose by $495.5 million, or 7.8%, to $6.85 billion, primarily due to a 10.4% increase in pricing, despite a 2.6% decrease in case volumes [134]. - Retail segment net sales increased by $216.6 million, or 8.4%, to $2.80 billion, with comparable store sales rising by 7.7% [135]. - Gross profit increased by $93.6 million, or 6.7%, to $1.50 billion, but as a percentage of net sales, it decreased from 15.7% to 15.5% due to higher LIFO expenses [136]. - Selling, general and administrative expenses rose by $118.3 million, or 9.0%, to $1.43 billion, increasing as a percentage of net sales from 14.7% to 14.8% [137]. - Operating earnings decreased by $43.7 million, or 38.9%, to $68.5 million, attributed to changes in net sales, gross profit, and operating expenses [141]. - Net earnings for 2022 were $34,518,000, a decrease of 53% from $73,751,000 in 2021, resulting in diluted earnings per share of $0.95 compared to $2.05 in the previous year [160]. Adjusted Earnings and EBITDA - Adjusted operating earnings for 2022 were $136.7 million, compared to $114.1 million in 2021, reflecting an increase of 19.8% [155]. - The Company’s adjusted EBITDA for 2022 was $136.7 million, excluding the impact of the 53rd week, compared to $133.7 million in 2020 [155]. - In 2022, the wholesale segment's adjusted operating earnings were $107.8 million, significantly up from $52.1 million in 2021, marking a 106.5% increase [156]. - The retail segment's adjusted operating earnings decreased to $28.9 million in 2022 from $62.0 million in 2021, a decline of 53.4% [156]. - Adjusted earnings from continuing operations for 2022 were $84,691,000, or $2.33 per diluted share, up from $74,901,000, or $2.08 per diluted share in 2021, reflecting a 2.5% increase [160]. - Adjusted EBITDA for 2022 was $242,879,000, an increase of 13.6% from $213,706,000 in 2021, excluding the impact of the 53rd week [165]. Tax and Interest Expenses - The effective income tax rate for 2022 was 26.4%, compared to 25.2% in 2021, influenced by state taxes and limitations on deductibility of executive compensation [145]. - The company reported an income tax expense of $12,397,000 for 2022, compared to $24,906,000 in 2021, indicating a reduction in tax liabilities [165]. - Interest expense increased by $8.9 million, or 64.5%, to $22.8 million, primarily due to rising interest rates, with total debt increasing to $503.6 million [144]. Cash Flow and Capital Expenditures - Net cash provided by operating activities decreased by $50.8 million to $110.35 million in 2022 compared to $161.16 million in 2021, primarily due to changes in working capital [187]. - Net cash used in investing activities increased by $53.0 million to $100.95 million in 2022, driven by acquisitions and increased capital expenditures [188]. - Capital expenditures for 2022 were $97.3 million, with expectations for total capital expenditures and IT capital spend to range from $130.0 million to $145.0 million in 2023 [190]. Debt and Financial Ratios - Long-term debt increased by $97.9 million to $503.6 million as of December 31, 2022, due to additional borrowings for working capital, acquisitions, and share repurchases [192]. - The Company had excess availability of $447.8 million after the 10% requirement under the Credit Agreement as of December 31, 2022 [194]. - The current ratio improved to 1.51:1 at December 31, 2022, compared to 1.46:1 at January 1, 2022 [195]. - Total net debt to total capital ratio increased to 0.38:1 at December 31, 2022, from 0.34:1 at January 1, 2022 [195]. - The company’s total debt as of December 31, 2022, was $503.6 million, up from $405.7 million on January 1, 2022, indicating a year-over-year increase of approximately 24% [198]. Operational Initiatives and Adjustments - The company secured $25 million in run-rate cost savings through its supply chain transformation initiative, with a 7% improvement in throughput rate year-over-year [126]. - The company anticipates that its merchandising transformation initiative will begin generating significant benefits in 2023 and beyond [130]. - The Company made a change in 2022 to exclude LIFO expense from adjusted operating earnings, aiming to reduce volatility from inflation fluctuations [148]. - Costs related to shareholder activism amounted to $7.3 million in 2022, impacting adjusted operating earnings [155]. - The company continues to focus on operational adjustments and restructuring, with costs associated with these initiatives totaling $805,000 in 2022 [165]. Impairments and Asset Management - Impairments of long-lived assets were $5.1 million in 2022, compared to $3.8 million in 2021 and $11.5 million in 2020 [180]. - The Company recorded impairments of other indefinite-lived intangible assets amounting to $8.6 million in 2020, with no impairments in 2021 or 2022 [179]. Dividends and Shareholder Returns - The company declared quarterly cash dividends of $0.21, $0.20, and $0.1925 per common share for each quarter of 2022, 2021, and 2020 respectively, with a total cash dividend limit of $35.0 million per year under the Credit Agreement [199]. - The company expects to continue paying dividends, but future declarations will depend on financial conditions and compliance with credit facilities [199].

SpartanNash Company (NASDAQ:SPTN) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET Company Participants Kayleigh Campbell - Head of Investor Relations Tony Sarsam - President and Chief Executive Officer Jason Monaco - Executive Vice President and Chief Financial Officer Conference Call Participants Spencer Hanus - Wolfe Research Andrew Wolf - C.L. King & Associates Benjamin Wood - BMO Capital Markets Chuck Cerankosky - Northcoast Research Jessica Taylor - Deutsche Bank Operator Good morning. At ...

SpartanNash Company (NASDAQ:SPTN) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET Company Participants Kayleigh Campbell – Head-Investor Relations Tony Sarsam – President and Chief Executive Officer Jason Monaco – Executive Vice President and Chief Financial Officer Conference Call Participants Chuck Cerankosky – Northcoast Research Andrew Wolf – CL King Ben Wood – BMO Capital Markets Spencer Hanus – Wolfe Research Krisztina Katai – Deutsche Bank Operator Good morning, and welcome to the Sparta ...

Financial Performance - Net sales reached $2.3 billion, a 10.8% increase compared to Q3'21[13] - Adjusted EBITDA was $57.3 million, an 11.3% increase compared to Q3'21[13] - Net earnings amounted to $9.5 million[13] Guidance and Outlook - The company raised its fiscal 2022 net sales guidance to a range of $9.5 billion to $9.7 billion[15] - The company raised its fiscal 2022 Adjusted EBITDA guidance to a range of $237 million to $242 million[15] - The company projects 2025 net sales to exceed $10 billion, representing a 12% growth from 2021 at a 3% Compound Annual Growth Rate (CAGR)[19] - The company projects 2025 Adjusted EBITDA to exceed $300 million, representing a 40% increase from 2021 at a 9% CAGR[20] Operational Improvements - The company achieved $24 million in run-rate cost savings from supply chain transformation[13] - The company reported an 8.5% year-over-year improvement in wholesale throughput rate[13] Segment Performance - Retail comparable store sales increased by 8.0%[13]

| --- | --- | --- | |-------|-------|----------------------------------| | | | | | | | | | | | Fiscal 2022 2nd Quarter | | | | Earnings Release August 18, 2022 | General Disclaimer Forward-Looking Statements The matters discussed in this presentation and in the Company's website-accessible conference calls with analysts include "forward-looking statements" about the plans, strategies, objectives, goals or expectations of the Company. These forward-looking statements are identifiable by words or phrases indi ...

SpartanNash Company (NASDAQ:SPTN) Q2 2022 Earnings Conference Call August 18, 2022 8:30 AM ET Company Participants Tony Sarsam - President, Chief Executive Officer Jason Monaco - Executive Vice President, Chief Financial Officer Kayleigh Campbell - Head of Investor Relations Conference Call Participants Spencer Hanus - Wolfe Research Jessica Taylor - Deutsche Bank Ben Wood - BMO Capital Markets Andrew Wolf - CL King Operator Good day and welcome to the SpartanNash CompanyÂ's second quarter 2022 earnings con ...

SpartanNash Company (NASDAQ:SPTN) Q1 2022 Earnings Conference Call June 2, 2022 8:30 AM ET Company Participants Kayleigh Campbell - Head of Investor Relations Tony Sarsam - President & Chief Executive Officer Jason Monaco - Executive Vice President & Chief Financial Officer Conference Call Participants Chuck Cerankosky - Northcoast Research Spencer Hanus - Wolfe Research Scott Mushkin - R5 Peter Saleh - BTIG Andrew Wolf - CL King Krisztina Katai - Deutsche Bank Operator Good morning and welcome to the Spart ...