NASDAQ$GO
Grocery Outlet Holding Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Achieved first quarterly $1 billion net sales performance with comparable store sales increase and raised key guidance for fiscal 2023.
Grocery Outlet announced strong second quarter fiscal 2023 results, with net sales increasing by 12.5% to $1.01 billion and comparable store sales increasing by 9.2%. Net income increased 21.8% to $24.5 million, or $0.24 per diluted share. The company is raising key guidance figures for fiscal 2023.
- Net sales increased by 12.5% to $1.01 billion.
- Comparable store sales increased by 9.2%, driven by a 9.1% increase in the number of transactions.
- The Company opened four new stores and closed one, ending the quarter with 447 stores in eight states.
- Net income increased 21.8% to $24.5 million, or $0.24 per diluted share.
Headline financials
Revenue & EPS history
Grocery Outlet · Revenue · Quarterly
$1.01B
Forward guidance
The Company is raising key guidance figures for fiscal 2023 as follows: New store openings, net 25 to 28, Net sales ~$3.95 billion, Comparable store sales increase 7.0% to 8.0%, Gross margin ~31.3%, Adjusted EBITDA(1) $254 million to $260 million Adjusted earnings per share — diluted(1) $1.04 to $1.08, Capital expenditures (net of tenant improvement allowances) ~$155 million
Tailwinds
- New store openings, net 25 to 28
- Net sales ~$3.95 billion
- Comparable store sales increase 7.0% to 8.0%
- Gross margin ~31.3%
- Adjusted EBITDA(1) $254 million to $260 million
Headwinds
- Adjusted earnings per share — diluted(1) $1.04 to $1.08
- Capital expenditures (net of tenant improvement allowances) ~$155 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
-1.9%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-3.3%
Avg return
30 days after
53%
17 / 32 earnings
Positive
+13.4%
Q3 2021
Best reaction
-30.2%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.5% | -4.7% | — | |
| Q4 2025 | -28.1% | -28.1% | -17.9% | |
| Q3 2025 | -8.1% | -18.2% | -20.0% | |
| Q1 2025 | -6.3% | -13.2% | -16.2% | |
| Q4 2024 | -30.2% | -28.0% | -15.8% | |
| Q3 2024 | +11.8% | +23.5% | +30.3% | |
| Q2 2024 | +7.4% | +7.2% | -7.0% | |
| Q1 2024 | -19.1% | -19.1% | -17.2% | |
| Q4 2023 | +0.6% | +1.5% | +10.7% | |
| Q3 2023 | -4.0% | -2.9% | +4.5% | |
| Q2 2023 | +4.2% | +3.4% | -8.9% | |
| Q1 2023 | +4.4% | +0.8% | -6.0% | |
| Q4 2022 | -4.4% | -0.2% | +2.1% | |
| Q3 2022 | -5.6% | -8.9% | -12.8% | |
| Q2 2022 | -7.2% | -10.7% | -16.7% | |
| Q1 2022 | +10.5% | +14.5% | +14.6% | |
| Q4 2021 | -2.1% | +5.4% | +17.9% | |
| Q3 2021 | +13.4% | +21.1% | +19.9% | |
| Q2 2021 | -12.4% | -15.4% | -20.9% | |
| Q1 2021 | -19.9% | -15.8% | -17.7% | |
| Q3 2020 | -2.4% | -6.8% | -8.6% | |
| Q2 2020 | -5.2% | -4.8% | -12.5% | |
| Q1 2019 | +0.6% | +2.3% | -9.6% | |
| Q1 2020 | +2.1% | +2.2% | -7.5% | |
| Q4 2018 | +6.7% | +1.8% | +5.1% | |
| Q4 2017 | +6.7% | +1.8% | +5.1% | |
| Q4 2019 | +6.3% | +7.4% | +7.7% | |
| Q3 2018 | +1.9% | +1.8% | -1.7% | |
| Q3 2019 | +4.8% | +1.4% | +2.7% | |
| Q1 2018 | +5.2% | +24.2% | -1.8% | |
| Q2 2019 | +5.2% | +24.2% | -1.8% | |
| Q2 2018 | +5.2% | +24.2% | -1.8% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro