Sprouts Farmers Market (NASDAQ: SFM) reported Q2 EPS of $0.59, $0.23 better than the analyst estimate of $0.36. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.6 billion.

Second Quarter Highlights:

• Net sales of $1.6 billion; a 16% increase from the same period in 2019
• Comparable store sales growth of 9.1% and two-year comparable store sales growth of 9.2%
• Net income of $67 million and adjusted net income(1) of $70 million; compared to net income and adjusted net income of $35 million from the same period in 2019
• Diluted earnings per share of $0.57 and adjusted diluted earnings per share(1) of $0.59; compared to $0.30 diluted and adjusted diluted earnings per share from the same period in 2019

“I am proud of how our Sprouts team members have navigated these unprecedented circumstances we live in today. Our culture rooted in respect, inclusion and caring for one another has shone through in everything our team members do for our customers and for each other,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. “Our strong second quarter performance was driven by the strategic changes we have begun to implement across our business and the continued positive impact on demand from the COVID-19 pandemic. As we head into the second half of the year, our early strategic wins give me confidence in our long-term direction, and our team members’ dedication assures me we will continue to provide our communities and customers healthy food for their families.”

Important Information Regarding Outlook

There is no guarantee that Sprouts will achieve its projected financial expectations, which are based on management estimates, currently available information and assumptions that management believes to be reasonable. These expectations are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. See “Forward-Looking Statements” below.

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