Albertsons Companies Inc Stock Price, News & Analysis

Uber Technologies and Albertsons Companies announced an expansion of their partnership, now including over 2,000 grocery stores nationwide. This includes nearly 800 new locations for Uber Eats in states like Connecticut and Indiana for the first time. The partnership enhances grocery access through the Uber Eats app, allowing users to order from 'express' lanes with benefits for Uber One members. Since launching grocery delivery in July 2020, Uber's U.S. grocery offering has seen a 64% year-over-year growth, adding over 120,000 non-restaurant merchants.

Kimco Realty (NYSE: KIM) reported strong first-quarter 2022 results, with net income of $230.9 million ($0.37 per diluted share), up 23% year-over-year. Funds From Operations (FFO) increased 18.2% to $240.6 million ($0.39 per diluted share). The company leased 4.7 million square feet, raising portfolio occupancy to 94.7%. A 5.3% increase in the quarterly cash dividend to $0.20 per share was announced, reflecting confidence in financial performance. The company also raised its full-year guidance for net income and FFO, signaling optimism amid robust tenant demand.

Albertsons Companies (NYSE: ACI) reported strong fiscal 2021 results, with fourth-quarter net income of $455 million ($0.79 per share), driven by a 7.5% increase in identical sales and a 5% rise in digital sales. Fiscal 2021 net income reached $1.62 billion ($2.70 per share). However, identical sales saw a slight decrease of 0.1% for the year. Looking ahead, the company projects fiscal 2022 identical sales growth of 2% to 3% and adjusted EBITDA between $4.15 billion and $4.25 billion. A board-led review for strategic options has commenced to enhance growth and shareholder value.

Albertsons Companies, Inc. (NYSE: ACI) has announced a cash dividend of $0.12 per share for Q1 2022, payable on May 10, 2022, to shareholders of record by April 26, 2022. As of February 26, 2022, Albertsons operates 2,276 retail stores, including 1,722 pharmacies and 402 fuel centers across 34 states and the District of Columbia. In 2021, the company contributed nearly $200 million in food and financial support to communities, showcasing its commitment to social responsibility.

Albertsons Companies (NYSE: ACI) has announced the acceptance of supplemental health benefits to enhance customer access to fresh produce and over-the-counter medications. This initiative allows shoppers using pre-paid cards funded by Medicare Advantage plans and other sources to conveniently purchase eligible items. The company has partnered with Solutran to facilitate these transactions, aiming to combat food insecurity and promote wellness. The Solutran S3 platform is expected to issue approximately $5 billion in benefits this year, bolstering Albertsons' commitment to health and community support.

Albertsons Companies, Inc. (NYSE: ACI) will announce its financial results for Q4 and fiscal year 2021, concluding on February 26, 2022, on April 12, 2022, before market opening. A conference call is set for 8:30 a.m. ET the same day, featuring a discussion of the results and a Q&A session. Investors can access the call through the company's website. Albertsons operates in 34 states and Washington D.C., with over 20 recognized banners, solidifying its position as one of the largest food and drug retailers in the U.S.

On March 22, 2022, Cue Health (Nasdaq: HLTH) and Albertsons Companies (NYSE: ACI) launched a partnership to provide in-pharmacy COVID-19 testing across approximately 900 pharmacies nationwide. Customers will receive lab-quality test results via email within 20 minutes. Initially piloted in Washington, the program aims to enhance access to diagnostics. Cue's tests, known for their accuracy and convenience, cater to various needs, including travel and workplace testing. The collaboration symbolizes a step towards evolving healthcare diagnostics, emphasizing convenience and rapid results.

The Board of Directors of Albertsons Companies (NYSE: ACI) has initiated a Board-led review of potential strategic alternatives to enhance growth and maximize shareholder value. The review will explore balance sheet optimization, capital return strategies, and possible transactions. Financial advisors Goldman Sachs and Credit Suisse have been retained for assistance. Although the Board believes in the company's strong asset portfolio, no timeline for the review's conclusion has been set, and there are no assurances of any resulting transactions.