---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-002366"
form_type: "8-K"
ticker: "NGVC"
cik: "0001547459"
company_name: "Natural Grocers by Vitamin Cottage, Inc."
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T02:20:10.730828+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Natural Grocers Q1 FY2023 net sales $280.5M, EPS $0.19, reaffirms guidance

## Summary
- Net sales $280.5M (+1.1% YoY); daily average comp store sales +0.5% YoY.
- Net income $4.4M, diluted EPS $0.19; Adjusted EBITDA $13.8M.
- Opened one new store; 2.5% new store growth rate for trailing twelve months.
- Reaffirmed full-year fiscal 2023 guidance.
- Product cost inflation ~8% offset with pricing; three-year comp store sales +17.6%.

## SEC filing metadata
- accession: 0001437749-23-002366
- form_type: 8-K
- ticker: NGVC
- cik: 0001547459
- company_name: Natural Grocers by Vitamin Cottage, Inc.
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1547459/000143774923002366/0001437749-23-002366-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1547459/000143774923002366/ngvc20230131_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-002366
- JSON: https://secwatch.observer/filing/0001437749-23-002366.json
- Plain text: https://secwatch.observer/filing/0001437749-23-002366.txt

## Key facts
- Earnings Releases
  Natural Grocers by Vitamin Cottage, Inc. reported first quarter of fiscal 2023 ended December 31, 2022 results: revenue $280.5 million, net income $4.4 million, EPS $0.19 per diluted share. Guidance reaffirmed.
  - Period: first quarter of fiscal 2023 ended December 31, 2022
  - Revenue: $280.5 million
  - Net income: $4.4 million
  - EPS: $0.19 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Net sales increased 1.1% to $280.5 million; ● Daily average comparable store sales increased 0.5% and increased 17.6% on a three-year basis; ● Net income was $4.4 million, with diluted earnings per share of $0.19;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1547459/000143774923002366/0001437749-23-002366-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.