Grocery Outlet Q3 sales rise 10.4%, profit falls; cuts fiscal 2024 EPS guidance
Grocery Outlet reported third quarter fiscal 2024 net sales up 10.4% to $1.11 billion, while net income fell 10.9% to $24.2 million, or $0.24 per diluted share. The company lowered its fiscal 2024 adjusted diluted EPS guidance to $0.77 to $0.80 from $0.89 to $0.95 and adjusted EBITDA guidance to $237 million to $242 million from $252 million to $260 million, and it approved a new $100.0 million share repurchase program.
Key points
- Q3 net sales rose 10.4% to $1.11 billion; comparable store sales rose 1.2%.
- Q3 net income fell 10.9% to $24.2 million, or $0.24 per diluted share; adjusted EBITDA rose 6.0% to $72.3 million.
- Fiscal 2024 adjusted diluted EPS guidance cut to $0.77 to $0.80 from $0.89 to $0.95.
- New $100.0 million share repurchase program, effective immediately with no expiration date, replaces the 2021 program with $9.4 million remaining.
The filing
Written by AI on Nov 8, 2026, 6:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2024.
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