NASDAQ$GO
Grocery Outlet Holding Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced financial results for the third quarter of fiscal 2023.
Grocery Outlet reported a 9.3% increase in net sales to $1.00 billion and a 6.4% increase in comparable store sales. Net income increased by 55.1% to $27.1 million, with diluted EPS of $0.27. Adjusted EBITDA increased by 20.0% to $68.1 million.
- Net sales increased by 9.3% to $1.00 billion.
- Comparable store sales increased by 6.4%, driven by a 8.6% increase in the number of transactions partially offset by a 1.9% decrease in average transaction size.
- Gross margin increased to 31.4%, 80 basis points over the third quarter of last year.
- The Company opened eight new stores, ending the quarter with 455 stores in eight states.
Headline financials
Revenue & EPS history
Grocery Outlet · Revenue · Quarterly
$1B
Forward guidance
The Company is updating key guidance figures for fiscal 2023.
Tailwinds
- Net sales of ~$3.95 billion.
- Comparable store sales increase of 7.0% to 7.5%.
- Gross margin of ~31.2%.
- Capital expenditures (net of tenant improvement allowances) of ~$155 million.
- New store openings, net of 27.
Headwinds
- Adjusted EBITDA of $248 million to $252 million
- Adjusted earnings per share — diluted of $1.04 to $1.06
- System implementation impacts to fourth quarter comparable store sales of approximately 300 basis points
- System implementation impacts to fourth quarter gross margin of approximately 150 basis points
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 Q3 2023
-1.9%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-2.6%
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% | +20.4% | |
| 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% | |
| Q2 2019 | +5.2% | +24.2% | -1.8% | |
| Q2 2018 | +5.2% | +24.2% | -1.8% | |
| Q1 2018 | +5.2% | +24.2% | -1.8% |
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