Albertsons Companies, Inc. (NYSE: ACI) reported stronger-than-expected fiscal Q3 results. Driven by favorable economic conditions and robust performance across frontline retail, distribution, and manufacturing segments, ACI topped both earnings and revenue estimates. Furthermore, the American food and drug retailer also raised its FY2021 guidance well above analysts' expectations. However, investors were disappointed as higher revenues didn’t convert to higher margins due to higher labor and logistics costs and inflation, and supply chain pressures. Likewise, despite the quarterly beat and raised guidance, ACI shares dropped 9.7% to close at $28.79 on January 11. Stellar Q3 Outperformance Markedly, adjusted earnings of $0.79 per share grew 19.7% year-over-year and exceeded analysts’ expectations of $0.
https://www.tipranks.com/news/albertsons-shares-tumble-9-7-despite-q3-beat-raised-outlook?utm_source=advfn.com&utm_medium=referral
Albertsons Companies (NYSE:ACI)
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