Natural Grocers by Vitamin Cottage Inc (STU:N2V)
€ 37.4 -0.2 (-0.53%) Market Cap: 869.84 Mil Enterprise Value: 1.20 Bil PE Ratio: 26.15 PB Ratio: 5.08 GF Score: 58/100
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Q3 2024 Natural Grocers by Vitamin Cottage Inc Earnings Call Transcript

Aug 8, 2024 / 08:30 PM GMT
Release Date Price: €21.2

Key Points

Positve
  • Natural Grocers by Vitamin Cottage Inc (NGVC) reported record sales and operating margin expansion for the third quarter.
  • The company achieved a 7.2% daily average comparable store sales growth, marking the fourth consecutive quarter of growth exceeding 6%.
  • Diluted earnings per share increased by 29%, reflecting strong financial performance.
  • The company's Npower Rewards program saw increased penetration, contributing to sales growth.
  • Natural Grocers branded products accounted for 8.5% of total sales, up from 7.6% a year ago, indicating successful product expansion.
Negative
  • The gross margin increase was partially offset by a lower product margin due to a reduced supplement sales mix.
  • Store expenses increased by 7.9% in the third quarter, driven by higher compensation expenses.
  • The effective tax rate increased to 21.9% from 14.1% in the previous year, primarily due to lower food donation deductions.
  • Online sales have been relatively stable post-pandemic, indicating limited growth in this channel.
  • The company has outstanding borrowings of $16.6 million on its $75 million revolving credit facility, indicating some level of debt.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NGVC.N - Natural Grocers By Vitamin Cottage Inc
Q3 2024 Natural Grocers by Vitamin Cottage Inc Earnings Call
Aug 08, 2024 / 08:30PM GMT

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Conference Call Participants
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* Jessica Thiessen
Natural Grocers by Vitamin Cottage Inc - Vice President, Treasurer
* Kemper Isely
Natural Grocers by Vitamin Cottage Inc - Chairman of the Board, Co-President
* Todd Dissinger
Natural Grocers by Vitamin Cottage Inc - Chief Financial Officer

=====================
Presentation
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Operator [1]
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Good day, ladies and gentlemen. Welcome to the Natural Grocers third-quarter fiscal year 2024 earnings conference call. (Operator Instructions) As a reminder, today's call is being recorded. (Operator Instructions)

I'd now like to turn the conference over to Ms. Jessica Thiessen, Vice President,
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