Q3 net sales +10.4% to $1.11B; comps +1.2%; net income -10.9%; $100M buyback authorized

Grocery Outlet Holding Corp.

2024-Q3 EPS reported $0.37 revenue$3,273,647,000

Net sales $1.11B (+10.4% YoY); comparable store sales +1.2% on 2.0% transaction growth.
Net income $24.2M (-10.9%); diluted EPS $0.24; adjusted diluted EPS $0.28 (-10.1%).
Adjusted EBITDA $72.3M (+6.0%), or 6.5% of net sales; gross margin down 30bps to 31.1%.
Board approved $100M share repurchase program, replacing 2021 plan with $9.4M remaining.
Opened 5 stores, ending Q3 with 529 stores in 16 states; fiscal 2024 guidance updated.

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