Albertsons Companies, Inc. (ACI) reported third quarter net income of $361.4 million, or $0.62 per share, compared to $375.5 million, or $0.20 per share, a year ago. Adjusted net income was $462.3 million, or $0.79 per share, compared to $505.1 million, or $0.87 per share, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit share of $0.66, for the quarter. Analysts' estimates typically exclude special items.
Third quarter net sales and other revenue was $18.6 billion compared to $18.2 billion, last year. The company said the increase was driven by the 2.9% increase in identical sales, with strong growth in pharmacy sales driving the identical sales increase. Analysts on average had estimated $18.37 billion in revenue.
Albertsons announced its Board has declared a cash dividend for the fourth quarter of fiscal 2023 of $0.12 per share of common stock. The cash dividend is payable on February 9, 2024 to stockholders of record as of the close of business on January 26, 2024.
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