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GRAND RAPIDS - Food solutions company SpartanNash (NASDAQ:SPTN) reported second quarter earnings that topped analyst expectations on Thursday, driven by improved gross margins and contributions from recent acquisitions.
The company’s stock remained unchanged in after hours trading following the results.
The company reported adjusted earnings per share of $0.54, exceeding the analyst consensus of $0.50, while revenue came in at $2.27 billion, slightly below the consensus estimate of $2.29 billion but up 1.8% YoY.
"I’m proud of our team’s continued focus and efforts to execute on the strategic plan, which delivered strong profitability driven by cost savings and expanded margins," said SpartanNash President and CEO Tony Sarsam.
The company’s Wholesale segment saw net sales decrease 3.0% to $1.51 billion due to reduced case volumes in national accounts, while the Retail segment experienced a 12.8% increase to $762.9 million, boosted by recently acquired stores. Retail comparable store sales decreased 0.5% due to lower unit volumes.
Adjusted EBITDA rose to $68.7 million from $64.5 million in the prior-year period, reflecting improved Wholesale segment gross margin rates and decreased corporate administrative costs.
SpartanNash is currently in the process of being acquired by C&S Wholesale Grocers in a transaction valued at $1.77 billion, representing a 52.5% premium over SpartanNash’s closing price on June 20. The deal is expected to close in late 2025, subject to shareholder and regulatory approvals.
The company did not provide financial guidance for fiscal 2025 due to the pending transaction.
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