Sprouts Farmers Market (NASDAQ: SFM) reported Q1 EPS of $0.46, $0.05 better than the analyst estimate of $0.41. Revenue for the quarter came in at $1.414 billion versus the consensus estimate of $1.41 billion.

First Quarter Highlights:

• Net sales of $1.4 billion; a 10% increase from the same period in 2018
• Comparable store sales growth of 1.4% and two-year comparable store sales growth of 4.1%
• Net income of $56 million, compared to $67 million from the same period in 2018
• Adjusted net income(1) of $57 million; compared to $67 million from the same period in 2018
• Diluted earnings per share of $0.46; compared to $0.50 from the same period in 2018
• Raised the low-end of 2019 EPS guidance

“Sprouts’ efficient model continues to produce strong returns on invested capital resulting in healthy cash generation,” said Brad Lukow, interim co-chief executive officer and chief financial officer of Sprouts Farmers Market. “This sound financial footing, coupled with strong new store productivity, supports continued expansion of our trusted brand across existing markets and three additional states this year. We are on track to achieve our 2019 financial targets, and we are raising the bottom-end of our EPS guidance.”

“Our focus on fresh and healthy products at great prices has positioned us well to meet the needs of today’s customers, and our ongoing investments in technology for efficiency, digital channels for brand and product awareness, and innovation for differentiation are paving the way to success for years to come,” said Jim Nielsen, interim co-chief executive officer, president and chief operating officer of Sprouts Farmers Market.

GUIDANCE:

Sprouts Farmers Market sees FY2019 EPS of $1.18-$1.24, versus the consensus of $1.20.

For earnings history and earnings-related data on Sprouts Farmers Market (SFM) click here.