Grocery Outlet Holding Reports Q2 FY2023 Earnings Results on August 8th
August 13, 2023
🌥️Earnings Overview
On August 8, 2023, GROCERY OUTLET HOLDING ($NASDAQ:GO) announced their earnings for the second quarter of FY2023, which ended June 30, 2023. Total revenue increased by 12.5% from the same quarter in the preceding year, amounting to USD 1010.3 million. Similarly, net income saw a 21.8% surge compared to the year before, reaching USD 24.5 million.
Price History
Grocery Outlet Holding reported their Q2 FY2023 earnings results on August 8th. On Tuesday, the company’s stock opened at $33.2 and closed at $33.1, down by 0.2% from the prior closing price of $33.2. Grocery Outlet Holding attributed the growth to strength in their non-perishable categories, expansion of private label products, and increased demand for grocery items due to pandemic-driven dining restrictions.
Grocery Outlet Holding’s stock price has been volatile over the past several months but has remained relatively stable since its recent second-quarter earnings report. The company is confident that they will continue to see strong financial performance throughout the remainder of the fiscal year and beyond. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for GO. More…
| Total Revenues | Net Income | Net Margin |
| 3.82k | 71.58 | 2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for GO. More…
| Operations | Investing | Financing |
| 257.9 | -162.64 | -91.96 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for GO. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.82k | 1.66k | 11.79 |
Key Ratios Snapshot
Some of the financial key ratios for GO are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.0% | 9.4% | 3.0% |
| FCF Margin | ROE | ROA |
| 2.5% | 6.3% | 2.6% |
Analysis
At GoodWhale, we’ve analyzed GROCERY OUTLET HOLDING’s fundamentals and based on our Risk Rating system, we’ve determined it to be a medium risk investment from both a financial and business perspective. After diving deep into the company’s income and balance sheets, we’ve identified two risk warnings that could impact your investment decision. If you’re interested in learning more about these warnings, feel free to register with us today and we’d be happy to share our findings. More…
Peers
The company was founded in 1946 and is headquartered in Emeryville, California. Grocery Outlet Holding Corp operates through two segments: Grocery Outlet and Bargain Market. The Grocery Outlet segment offers a variety of food and household products at discounts of up to 50% off traditional grocery store prices. The Bargain Market segment offers a selection of closeout, overstocked, and irregular merchandise at discounts of up to 70% off traditional retail prices. The company competes with Veroni Brands Corp, The Kroger Co, and Ollie’s Bargain Outlet Holdings Inc.
– Veroni Brands Corp ($OTCPK:VONI)
As of 2022, Veroni Brands Corp has a market cap of 47.4M. The company’s return on equity is 98.41%. Veroni Brands Corp is a food and beverage company that manufactures and markets a variety of food and beverage products. The company’s products include pasta, sauces, snacks, and desserts. Veroni Brands Corp is headquartered in New York, New York.
– The Kroger Co ($NYSE:KR)
The Kroger Co has a market cap of 33.33B as of 2022, a Return on Equity of 23.61%. The company is a leading grocery store chain in the United States with over 2,800 stores in 35 states. The company offers a wide variety of products and services including grocery, health and beauty, and general merchandise. Kroger also has a strong online presence with a website and mobile app that offer convenient shopping options for customers.
– Ollie’s Bargain Outlet Holdings Inc ($NASDAQ:OLLI)
Ollie’s Bargain Outlet Holdings Inc is a publicly traded company with a market cap of 3.37B as of 2022. The company operates a chain of closeout retail stores in the United States. As of February 2021, the company operated 259 stores in 27 states. The company was founded in 1982 and is headquartered in Harrisburg, Pennsylvania.
Summary
Grocery Outlet Holding Corp. reported strong second quarter financial results for the period ending June 30th 2023, with total revenue of USD 1010.3 million, an increase of 12.5% year-over-year. Net income also increased 21.8% to USD 24.5 million. This is an encouraging sign for investors as the company continues to grow and generate more profit.
Looking ahead, Grocery Outlet Holding should benefit from its strategic initiatives and continued focus on cost efficiency. Investors should keep an eye on Grocery Outlet Holding’s future results as it seeks to capitalize on new opportunities in the coming months.
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