SPROUTS FARMERS MARKET Reports Financial Results for Q2 of Fiscal Year 2023
August 8, 2023
🌥️Earnings Overview
SPROUTS FARMERS MARKET ($NASDAQ:SFM) announced their financial results for the second quarter of their fiscal year 2023 on June 30th 2023. Total revenue for this period was USD 1692.2 million, representing an increase of 6.1% compared to the same period in the previous year. Net income also showed a rise of 8.6% year-over-year, reaching USD 67.3 million.
Price History
The company’s stock opened at $39.4 and closed at $38.3, indicating a decrease of 2.5% from its prior closing price of $39.2. Despite the dip in share prices, SPROUTS reported strong overall performance for the period. SPROUTS has achieved these results through its commitment to providing customers with high-quality and fresh produce at competitive prices. The company has also seen positive impacts from its expansion into new markets, which have contributed to its growth.
Overall, the financial results reported by SPROUTS highlight its success in delivering on its mission of providing customers with healthy and affordable food options. Looking ahead, the company expects to continue to build on this success in the coming quarters and beyond. 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 has conducted an analysis of SPROUTS FARMERS MARKET’s financials, and the results show that SPROUTS FARMERS MARKET has a high health score of 8/10 with regards to its cashflows and debt, meaning that it is capable of safely riding out any crisis without the risk of bankruptcy. We classify this company as an ‘elephant’, denoting that it is rich in assets after deducting off liabilities. This could make SPROUTS FARMERS MARKET an attractive target for long-term and value investors alike, as it is strong in profitability, medium in asset growth, and weak in dividend. Therefore, investors looking to benefit from long-term capital appreciation and higher returns may consider 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’s financial results for the second quarter of their fiscal year 2023 show a steady increase in revenue and net income. Total revenue was reported at USD 1692.2 million, which is a 6.1% increase on a year-over-year basis, while net income grew 8.6% to USD 67.3 million. This is a positive sign for investors, suggesting that the company is well-positioned for growth. Going forward, investors should continue to monitor the company’s financials to determine if the upward trends are sustainable and if the company can maintain its competitive edge.
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