Sprouts Farmers Market (SFM) Misses Q3 EPS by 1c, Maintains FY EPS Outlook
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%
2016 Outlook
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.