Albertsons raises FY24 adjusted EPS view to $2.25-$2.31 from $2.20-$2.30

Consensus $2.25. Raises FY24 adjusted EBITDA view to $3.95B-$3.99B from $3.9B-$3.98B. Narrows FY24 identical sales view to 1.8%-2% from 1.8%-2.2%. Backs FY24 capital expenditures view $1.8B-$1.9B. Cuts FY24 effective tax rate to 15%-16% from 23%. Sankaran added, “As we look ahead to the balance of fiscal 2024 and beyond, we are energized about our plans to accelerate growth through our Customers for Life strategy, leveraging investments to enhance digital engagement and omnichannel revenue growth, improve our value proposition with customers, and drive digital media growth. At the same time, we expect our robust productivity agenda to provide fuel to invest in the business. We look forward to driving growth and providing value to our customers and returns to our stockholders.”