# Albertsons Companies, Inc. (ACI) Reports Fourth Quarter and Full Year Results – NYSE: ACI Q4 2024
Boise, ID – On April 15, 2025, Albertsons Companies, Inc. (NYSE: ACI) released its financial results for the fourth quarter and full year of fiscal 2024, which ended on February 22, 2025.
## Key Highlights
### Fourth Quarter of Fiscal 2024
– **Identical Sales**: Increased by **2.3%** compared to Q4 FY 2023.
– **Digital Sales**: Grew by **24%** over the same quarter last year.
– **Loyalty Membership**: Increased by **15%**, reaching **45.6 million** members.
– **Net Income**: Recorded at **$172 million**, or **$0.29 per share**.
– **Adjusted Net Income**: **$270 million**, equating to **$0.46 per share**.
– **Adjusted EBITDA**: Totaled **$855 million**.
### Full Year Fiscal 2024
– **Identical Sales**: Increased by **2.0%** year-on-year.
– **Digital Sales**: Also saw an increase of **24%**.
– **Net Income**: Overall net income was **$959 million**, or **$1.64 per share**.
– **Adjusted Net Income**: Recorded at **$1,382 million**, which corresponds to **$2.34 per share**.
– **Adjusted EBITDA**: Totaled **$4,005 million**.
### Profitability Metrics
– **Gross Margin Rate**: Decreased to **27.4%** from **28.0%** during Q4 FY 2023. Excluding fuel and LIFO impacts, the drop is noted at **45 basis points**.
– **Selling and Administrative Expenses**: Remained stable at **25.7%** of net sales across both Q4 FY 2024 and Q4 FY 2023.
### Expenses and Income
– **Interest Expense**: Decreased to **$101.5 million** from **$109.0 million** year-on-year.
– **Income Tax Expense**: Was **$46.4 million** with an effective tax rate of **21.3%**, compared to **64.3 million** with a **20.4%** effective tax rate in Q4 FY 2023.
### Shareholder Returns
– **Dividends**: The Board announced a **25% increase** in the quarterly cash dividend, raising it from **$0.12** to **$0.15** per share.
– This quarterly dividend of **$0.15** was paid on **February 7, 2025**, to shareholders of record as of **January 24, 2025**. The next payment of **$0.15** is scheduled for **May 9, 2025**.
– **Share Repurchase**: The Board authorized a share repurchase program of up to **$2.0 billion**, and **4.1 million** shares were repurchased for a total of **$82.5 million** during the fourth quarter.
### Capital Expenditures
– Fiscal 2024 saw capital expenditures amounting to **$1,931.2 million**, focusing on the completion of **127 remodels**, opening **11 new stores**, and enhancing digital and technology platforms.
### Fiscal 2025 Outlook
Management provided a forecast detailing the following expectations for Fiscal 2025:
– **Identical Sales Growth**: Projected between **1.5% and 2.5%**.
– **Adjusted EBITDA**: Expected to range between **$3.8 billion and $3.9 billion**, including **$65 million** related to the **53rd week**.
– **Adjusted Net Income per Class A Share**: Forecasted in the range of **$2.03 to $2.16** per share.
– **Effective Income Tax Rate**: Estimated between **23.5% and 24.5%**.
– **Capital Expenditures**: Expected between **$1.7 billion and $1.9 billion**.
## Summary of Financial Performance Metrics
### Fourth Quarter FY 2024 vs. Fourth Quarter FY 2023
– **Net Sales and Revenue**: Increased to **$18.8 billion** from **$18.3 billion**.
– **Net Income**: fell to **$171.8 million** from **$250.5 million**.
– **Adjusted Net Income**: fell to **$269.5 million** from **$318 million**.
– **Adjusted EBITDA**: Declined to **$855.1 million** from **$915.8 million**.
### Full Year FY 2024 vs. Full Year FY 2023
– **Net Income**: Reduced from **$1,296 million** to **$959 million**.
– **Adjusted Net Income**: Decreased from **$1,693.7 million** to **$1,382.4 million**.
– **Adjusted EBITDA**: Noted decrease from **$4,317.7 million** to **$4,004.7 million**.
This summary captures the financial performance and strategic movements of Albertsons Companies, Inc. as they prepare for future growth and shareholder value initiatives.
Here are the requested tables extracted from the press release:
### Consolidated Statements of Operations
(dollars in millions)
| Fourth Quarter Fiscal 2024 | Fourth Quarter Fiscal 2023 | Fiscal 2024 | Fiscal 2023 | |
|---|---|---|---|---|
| Net sales and other revenue | $18,799.5 | $18,339.5 | $80,390.9 | $79,237.7 |
| Cost of sales | $13,650.5 | $13,195.3 | $58,135.3 | $57,192.0 |
| Gross margin | $5,149.0 | $5,144.2 | $22,255.6 | $22,045.7 |
| Selling and administrative expenses | $4,836.6 | $4,717.2 | $20,613.7 | $19,932.9 |
| Loss on property dispositions and impairment losses, net | $36.4 | $0.8 | $95.8 | $43.9 |
| Operating income | $276.0 | $426.2 | $1,546.1 | $2,068.9 |
| Interest expense, net | $101.5 | $109.0 | $459.8 | $492.1 |
| Other (income) expense, net | -$43.7 | $2.4 | -$43.4 | -$12.2 |
| Income before income taxes | $218.2 | $314.8 | $1,129.7 | $1,589.0 |
| Income tax expense | $46.4 | $64.3 | $171.1 | $293.0 |
| Net income | $171.8 | $250.5 | $958.6 | $1,296.0 |
| Net income per Class A common share: Basic net income per Class A common share | $0.30 | $0.43 | $1.65 | $2.25 |
| Diluted net income per Class A common share | $0.29 | $0.43 | $1.64 | $2.23 |
| Weighted average Class A common shares outstanding (in millions): Basic | 579.6 | 576.3 | 580.1 | 575.4 |
| Diluted | 584.4 | 583.0 | 583.8 | 581.1 |
| % of net sales and other revenue: Gross margin | 27.4% | 28.0% | 27.7% | 27.8% |
| Selling and administrative expenses | 25.7% | 25.7% | 25.6% | 25.2% |
| Store data: Number of stores at end of quarter/year | 2,270 | 2,269 |
