Sprouts Farmers Market (SFM) Misses Q3 EPS by 1c, Maintains FY EPS Outlook
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Sprouts Farmers Market (NASDAQ: SFM) reported Q3 EPS of $0.16, $0.01 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.01 billion.
- Comparable store sales growth of 1.3%
On September 7, 2016, we updated our third quarter and full-year 2016 guidance primarily due to the significant ongoing deflation and the stepped-up promotional environment. Given our third quarter performance, we have raised the bottom of full-year comparable store sales growth range and maintained our EPS guidance. This change and additional guidance for 2016 are provided below:
|Full-Year 2016 Guidance|
|52-week to 52-week||53-week to 52-week|
|Net sales growth||14.5% to 15%||12% to 12.5%|
|Unit growth||36 new stores||36 new stores|
|Comparable store sales growth (1)||2.0% to 2.5%||2.0% to 2.5%|
|Diluted earnings per share (2)||$0.83 to $0.86||$0.83 to $0.86|
|EBITDA growth (3)||0% to 2%||-3% to -1%|
|Capital expenditures||$160M to $165M||$160M to $165M|
|(net of landlord reimbursements)|
(1) Comparable store sales growth is on an equal 52-week to 52-week basis.(2) Based on a weighted average share count of approximately 150 million shares for 2016.(3) Compared to adjusted measures in 2015.
For earnings history and earnings-related data on Sprouts Farmers Market (SFM) click here.
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