Sprouts Farmers Market Q4 earnings beat Street
Sprouts Farmers Market turned in a solid fourth quarter performance amid an increase in same-store sales.
The fast-growing organic grocer reported net income of $12.7 million for the quarter ended Dec. 30, and diluted earnings per share of $0.10, compared with $40 million and $0.29 in the year-ago period. Adjusted earnings per share was $0.19, just beating analysts’ estimates of 18 cents per share.
Net sales rose 11% to $1.27 billion, in line with estimates. Growth was driven by a 2.3% increase in same-store sales and strong performance in newly opened stores, the company said.
For the year, Sprouts reported profit of $158.5 million, or $1.22 per share. Revenue was reported as $5.21 billion.
Sprouts opened 30 stores and closed two stores in fiscal 2018, giving it a total of 313 locations in 19 states as of December 30, 2018. The company plans to open a total of approximately 30 stores in 2019.
“Sprouts delivered 12% net sales growth for the year in a competitive and evolving industry, demonstrating the strength of our differentiated model and brand,” said Brad Lukow, interim co-CEO and CFO of Sprouts Farmers Market. “Through our solid operating cash flows, we continue to self-fund our store unit growth and strategic initiatives and, in keeping with our capital structure strategy, returned more than $250 million to our shareholders through share repurchases in 2018.”
The fast-growing organic grocer reported net income of $12.7 million for the quarter ended Dec. 30, and diluted earnings per share of $0.10, compared with $40 million and $0.29 in the year-ago period. Adjusted earnings per share was $0.19, just beating analysts’ estimates of 18 cents per share.
Net sales rose 11% to $1.27 billion, in line with estimates. Growth was driven by a 2.3% increase in same-store sales and strong performance in newly opened stores, the company said.
For the year, Sprouts reported profit of $158.5 million, or $1.22 per share. Revenue was reported as $5.21 billion.
Sprouts opened 30 stores and closed two stores in fiscal 2018, giving it a total of 313 locations in 19 states as of December 30, 2018. The company plans to open a total of approximately 30 stores in 2019.
“Sprouts delivered 12% net sales growth for the year in a competitive and evolving industry, demonstrating the strength of our differentiated model and brand,” said Brad Lukow, interim co-CEO and CFO of Sprouts Farmers Market. “Through our solid operating cash flows, we continue to self-fund our store unit growth and strategic initiatives and, in keeping with our capital structure strategy, returned more than $250 million to our shareholders through share repurchases in 2018.”