02:39 PM EDT, 05/22/2024 (MT Newswires) -- Empire is expected to report Q4/F24 results on June 20.

Key Takeaways:

National Bank's Vishal Shreedhar expects Q4/F24 EPS to be lower by 12.2% y/y reflecting higher SG&A, partly offset by positive sssg, Food Retailing gross margin expansion and share repurchases. Shreedhar is projecting sssg (ex. fuel) of 1% vs. 2.6% last year and anticipating sequentially similar themes (higher traffic, partly offset by smaller basket).

NBF models F2025 EPS of $3.14, higher by 14.3% y/y (Empire's long-term EPS growth objective is 8-11% annualized), versus consensus at $3.02.

"Our expectation for EPS growth, in part, reflects various margin initiatives including, among others: (i) space productivity, (ii) supply chain improvements, and (iii) headcount reductions. "

Sector Perform; price target is $40.

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