Albertsons Companies(US:ACI)2025-04-15 11:30Sales Performance - Identical sales increased by 2.3% in the fourth quarter of fiscal 2024, driven primarily by strong growth in pharmacy sales[4] - Digital sales surged by 24% during the fourth quarter of fiscal 2024, contributing to overall revenue growth[5] - Net sales for Fiscal 2024 reached $80,390.9 million, a 1.5% increase from $79,237.7 million in Fiscal 2023[29] - The company expects identical sales growth in the range of 1.5% to 2.5% for fiscal 2025[18] Financial Performance - Net income for the fourth quarter of fiscal 2024 was $172 million, or $0.29 per share, compared to $250.5 million, or $0.43 per share in the same quarter of fiscal 2023[10] - Net income for Fiscal 2024 was $958.6 million, a decrease of 26.1% compared to $1,296.0 million in Fiscal 2023[29] - Basic net income per Class A common share for Fiscal 2024 was $1.65, down from $2.25 in Fiscal 2023, reflecting a decline of 26.7%[29] - Net income for Fiscal 2024 was $171.8 million, a decrease of 31.2% from $250.5 million in Fiscal 2023[35] - Adjusted net income for Fiscal 2024 was $1,382.4 million, down 18.3% from $1,693.7 million in Fiscal 2023[35] - Adjusted EBITDA for the fourth quarter of fiscal 2024 was $855 million, down from $915.8 million in the fourth quarter of fiscal 2023[10] - Adjusted EBITDA for Fiscal 2024 was $4,004.7 million, a decline of 7.2% compared to $4,317.7 million in Fiscal 2023[35] - Adjusted EBITDA for fiscal 2025 is projected to be between $3.8 billion and $3.9 billion, including approximately $65 million related to the company's 53rd week[18] Capital Expenditures and Investments - Capital expenditures for fiscal 2024 totaled $1.93 billion, including the completion of 127 remodels and the opening of 11 new stores[11] - The company repurchased 4.1 million shares of common stock for a total of $82.5 million during the fourth quarter of fiscal 2024[13] - The board increased the quarterly cash dividend by 25% from $0.12 to $0.15 per common share[11] Assets and Liabilities - Total current assets increased to $6,559.0 million in February 2025, compared to $6,287.5 million in February 2024[31] - Total liabilities decreased slightly to $23,369.8 million in February 2025 from $23,474.3 million in February 2024[31] - Cash and cash equivalents at the end of the period were $297.9 million, up from $193.2 million at the beginning of the period[33] - Total stockholders' equity increased to $3,385.9 million in February 2025, compared to $2,747.5 million in February 2024[31] - Total debt (including finance leases) decreased to $7,820.1 million in Fiscal 2024 from $8,068.6 million in Fiscal 2023[42] - The total net debt ratio increased to 1.88 in Fiscal 2024 from 1.83 in Fiscal 2023[42] Operating Performance - Operating income for Fiscal 2024 was $1,546.1 million, down from $2,068.9 million in Fiscal 2023, representing a decline of 25.2%[29] - Gross margin for the fourth quarter was $5,149.0 million, maintaining a gross margin percentage of 27.4%, down from 28.0% in the same quarter last year[29] Other Financial Metrics - Interest expense, net for Fiscal 2024 was $459.8 million, a decrease from $492.1 million in Fiscal 2023[35] - The company incurred merger-related costs of $254.8 million in Fiscal 2024, compared to $180.6 million in Fiscal 2023[35] - Business transformation adjustments amounted to $105.2 million in Fiscal 2024, significantly higher than $45.1 million in Fiscal 2023[35] - Weighted average diluted Class A common shares outstanding increased to 584.4 million in Fiscal 2024 from 583.0 million in Fiscal 2023[37] - Adjusted net income per Class A common share for Fiscal 2024 was $2.34, down from $2.88 in Fiscal 2023[37]