- Sprouts Farmers Market, Inc. (NASDAQ:SFM) reported fourth-quarter sales growth of 6% year-on-year to $1.58 billion, beating the consensus of $1.56 billion. Comparable store sales increased 2.9%.
- Gross profit for the quarter increased 7% to $572.8 million, and gross profit margin expanded 60 basis points to 36.3%.
- Operating margin was 3.9%, and operating income for the quarter rose 20.4% to $61.8 million.
- The company held $293.2 million in cash and equivalents as of Jan. 1, 2023. Cash flow from operating activities for the year amounted to $371.3 million.
- EBITDA of $92.8 million increased 12.6% Y/Y. EPS of $0.42 beat the analyst consensus of $0.37.
- "While we recognize the near-term economic environment is difficult to predict, the stability of our recent sales is encouraging," said CFO Chip Molloy.
- Outlook: Sprouts Farmers sees FY23 adjusted EPS of $2.41 - $2.53, above the consensus of $2.39; Net sales growth of 4% - 6%.
- The company expects Q1 adjusted EPS of $0.83 - $0.87, above the Street view of $0.81. It sees comparable store sales growth of 1.5% - 2.5%.
- Price Action: SFM shares traded higher by 12.27% at $34.58 on the last check Thursday.
- Photo Via Company
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