SPROUTS FARMERS MARKET Announces Second Quarter FY2023 Earnings Results for Period Ending August 1 2023
August 16, 2023
🌥️Earnings Overview
On June 30 2023, SPROUTS FARMERS MARKET ($NASDAQ:SFM) reported their earnings results for the second quarter of FY2023, ending August 1 2023. Total revenue for the period amounted to USD 1692.2 million, a 6.1% increase year-on-year. Net income was USD 67.3 million, up 8.6% from the same quarter in the previous year.
Market Price
The stock opened at $39.4 and closed at $38.3, representing a decrease of 2.5% from the prior closing price of 39.2. Investors responded negatively to the news as stock prices dropped following the announcement.
Additionally, the effects of inflation caused by rising food prices also contributed to the decrease in profits. In light of the unfavorable results, SPROUTS FARMERS MARKET plans to focus on expanding its online presence and making further investments in technology and infrastructure to improve customer experience and attract new customers. Despite the decrease in profits, SPROUTS FARMERS MARKET is striving to continue its commitment to offering quality products at competitive prices in order to remain competitive in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SFM. More…
| Total Revenues | Net Income | Net Margin |
| 6.59k | 254.35 | 4.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SFM. More…
| Operations | Investing | Financing |
| 457.15 | -182.64 | -303.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SFM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.21k | 2.13k | 10.54 |
Key Ratios Snapshot
Some of the financial key ratios for SFM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.7% | 7.3% | 5.3% |
| FCF Margin | ROE | ROA |
| 4.4% | 20.5% | 6.8% |
Analysis
GoodWhale recently conducted an analysis of SPROUTS FARMERS MARKET’s wellbeing. Our Risk Rating report found that SPROUTS FARMERS MARKET is a low risk investment in terms of both financial and business aspects. However, our GoodWhale AI detected 1 risk warnings in the balance sheet of SPROUTS FARMERS MARKET. To learn more about this specific risk, please register on our website goodwhale.com. We will be happy to help you gain a better understanding of the risks associated with investing in SPROUTS FARMERS MARKET. More…
Peers
Sprouts Farmers Market Inc is an American supermarket chain headquartered in Phoenix, Arizona, that specializes in selling fresh, organic, and natural foods. The company has more than 340 stores in 23 states across the United States. The company’s competitors include Albertsons Companies Inc, The Kroger Co, and Carrefour.
– Albertsons Companies Inc ($NYSE:ACI)
Albertsons Companies Inc is a food and drug retailer in the United States. The company has a market capitalization of $11.19 billion and a return on equity of 34.03%. Albertsons Companies Inc operates supermarkets, drugstores, and convenience stores under various banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Express, Pavilions, Carrs, and Haggen.
– The Kroger Co ($NYSE:KR)
Kroger is one of the largest grocery retailers in the United States. The company has a market capitalization of over $33 billion as of early 2021. Kroger also has a strong return on equity (ROE) of 23.61%. This means that the company generates significant profits from its shareholders’ investments.
Kroger operates over 2,700 grocery stores in 35 states under various banners, including Kroger, Ralphs, and Fred Meyer. The company also has a large portfolio of private label brands, such as Kroger’s own Simple Truth line of natural and organic foods. In recent years, Kroger has been investing heavily in digital initiatives, such as online ordering and delivery, to better compete against Amazon and other e-commerce giants.
– Carrefour ($LTS:0NPH)
Carrefour is a French multinational retailer headquartered in Boulogne Billancourt, France, in the Hauts-de-Seine Department near Paris. It is one of the largest hypermarket chains in the world with over 12,000 stores in more than 30 countries. Carrefour operates mainly in Europe, Argentina, Brazil, China, Colombia, the Dominican Republic, Qatar, and Saudi Arabia, but also has shops in North Africa and other parts of Asia.
Carrefour’s market cap is 11.9B as of 2022. The company has a Return on Equity of 12.52%. Carrefour operates mainly in Europe, Argentina, Brazil, China, Colombia, the Dominican Republic, Qatar, and Saudi Arabia.
Summary
SPROUTS FARMERS MARKET reported strong financial results for the second quarter of FY2023, with total revenues increasing 6.1% year-on-year to USD 1692.2 million and net income increasing 8.6% to USD 67.3 million. This is a strong indication that the company is on track to achieve its financial objectives for the year. Investors should keep an eye on SPROUTS FARMERS MARKET in the coming months, as any significant changes in the company’s revenue and profit performance could have major implications for its stock price.
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