Albertsons Companies, Inc. (NYSE: ACI) saw its shares climb Tuesday, on the release of results for the third quarter of fiscal 2020,
Sales and other revenue was $15.4 billion during the quarter compared to $14.1 billion during the 12 weeks ended November 30, 2019. The increase was driven by the Company's 12.3% growth in identical sales, partially offset by lower fuel sales. Identical sales benefited from the Company's 225% growth in digital sales.
Net income per share proved to be $0.20; with adjusted net income per share of $0.66. Net income of $124 million; Adjusted net income was $387 million.
Adjusted EBITDA was $968 million, an increase of 53% compared to the third quarter last year Executed debt refinancing and announced paydown to drive an additional $25 million in annualized interest savings.
"Our constant focus on our customers continued to drive strong growth and market share gains in the third quarter," said CEO Vivek Sankaran.
"It is clear that our strategy is working, and as we continue to execute on our strategic priorities, we believe we are well positioned to deliver sustainable growth over the long term. At the same time, we remain focused on delivering value to all stakeholders, including taking care of our customers, associates and the communities we serve as we continue to navigate through the pandemic."
ACI shares hiked 83 cents, or 4.9%, to $17.58.
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