Whole Foods Rises 3% on Q2 Earnings, Raised Guidance

Whole Foods

released its fiscal second-quarter earnings results on Wednesday after the closing bell. The company reported net income of $117.7 million or $0.64 per share, compared to $89.9 million or $0.51 per share, in the year ago period. This came in a head of Wall Street analysts' consensus EPS estimates of $0.59. Sales for the second-quarter rose to $2.67 billion from $2.35 billion in last year's corresponding quarter. This was in-line with analysts' consensus revenue estimates of $2.67 billion. Looking ahead to fiscal 2012, Whole Foods now sees EPS between $2.44 and $2.47 and sales growth between 14.8 and 15.6 percent. This compares to the company's previous guidance of $2.28 to $2.32 per share and sales growth of 13.5 to 15.0 percent. Currently, Wall Street analysts have consensus EPS estimates of $2.34 for fiscal 2012. In the after hours trading session, WFM shares have risen more than 3% to $86.93 on the back of the strong Q1 results and upwardly revised 2012 guidance.