Albertsons reports FQ1 results ahead of analyst estimates

Albertsons (NYSE: ACI ) reported stronger-than-expected results for its first fiscal quarter.
The company reported Q1 EPS of $0.93, topping the analyst consensus for $0.85. Revenue for the quarter came in at $24.1 billion, ahead of the $23.93B consensus.
The gross profit margin fell by 40 basis points to 27.7%, missing the consensus of 27.9%.
Vivek Sankaran, CEO commented, "Our first quarter results demonstrate the resilience of our business, and the effectiveness of our Customers for Life transformation strategy, even as the economic environment has become more challenging.”
The company operated a total of 2,272 stores at the end of FQ1.
Albertsons provided no new updates on its expected merger with Kroger (NYSE: KR ).

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