SpartanNash (NASDAQ:SPTN) Releases FY 2024 Earnings Guidance

SpartanNash (NASDAQ:SPTN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.850-1.950 for the period, compared to the consensus estimate of 2.020. The company issued revenue guidance of $9.5 billion-$9.7 billion, compared to the consensus revenue estimate of $9.5 billion. SpartanNash also updated its FY24 guidance to $1.85-1.95 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded SpartanNash from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th.

SpartanNash Stock Performance

Shares of SpartanNash stock traded down $2.83 on Thursday, reaching $19.76. 131,098 shares of the company were exchanged, compared to its average volume of 245,556. SpartanNash has a 1-year low of $17.74 and a 1-year high of $24.51. The firm has a market cap of $666.70 million, a price-to-earnings ratio of 14.83 and a beta of 0.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.62. The company’s 50-day moving average is $21.72 and its two-hundred day moving average is $20.43.

SpartanNash (NASDAQ:SPTN) last posted its earnings results on Thursday, August 15th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. SpartanNash had a net margin of 0.48% and a return on equity of 8.87%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. SpartanNash’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that SpartanNash will post 1.98 earnings per share for the current fiscal year.

SpartanNash Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 23rd were given a dividend of $0.218 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.41%. SpartanNash’s dividend payout ratio (DPR) is 65.41%.

About SpartanNash

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.