Research Desk Line-up: Weis Markets Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 23, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Sprouts Farmers Market, Inc. (NASDAQ: SFM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SFM, following the Company's disclosure of its financial results on August 03, 2017, for the second quarter fiscal 2017. The Company's revenue increased 14.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Grocery Stores industry. Pro-TD has currently selected Weis Markets, Inc. (NYSE: WMK) for due-diligence and potential coverage as the Company reported on August 02, 2017, its financial results for Q2 which ended on July 01, 2017. Register for a free membership today, and be among the early birds that get access to our report on Weis Markets when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SFM; also brushing on WMK. With the links below you can directly download the report of your stock of interest free of charge at:
For three months ended July 02, 2017, Sprouts Farmers Market's revenue increased 14.6% to $1.18 billion on a y-o-y basis from $1.03 billion in Q2 FY16. The increase was primarily due to strong performance in new stores opened and a 1.4% increase in comparable store sales. The revenue surpassed analysts' expectations of $1.17 billion.
During Q2 FY17, Sprouts Farmers Market's gross profit increased 11.8% to $341.99 million from $305.80 million in Q2 FY16. For the reported quarter, the Company's gross margin decreased 70 basis points to 29% of revenue from 29.7% of revenue in Q2 FY16. The decrease was due to modest cost inflation and higher occupancy costs.
During Q2 FY17, Sprouts Farmers Market's direct store expenses increased 14% to $236.19 million from $207.21 million in Q2 FY16. For the reported quarter, the Company's selling, general, and administrative expenses (SG&A) increased 23.5% to $38.19 million from $30.92 million in Q2 FY16. The increase was attributable to higher compensation expenses and other corporate costs.
For the reported quarter, Sprouts Farmers Market's EBITDA increased 4.3% to $87.20 million from $83.63 million in Q2 FY16. During Q2 FY17, the Company's EBIT increased 8 basis points to $63.60 million from $63.55 million in the same quarter last year.
For Q2 FY17, Sprouts Farmers Market's net income increased 10.1% to $40.97 million on a y-o-y basis compared to net income of $37.21 million in Q2 FY16. During Q2 FY17, the Company's EPS increased 20% to $0.30 on a y-o-y basis from $0.25 in Q2 FY16. For the reported quarter, the Company's diluted EPS increased 16% to $0.29 on a y-o-y basis from $0.25 in Q2 FY16. The increase was primarily due to higher sales and a lower effective tax rate. The diluted EPS surpassed analysts' expectations of $0.25.
As on July 02, 2017, Sprouts Farmers Market's cash and cash equivalents increased 18.8% to $14.81 million from $12.47 million in Q4 FY16. For the reported quarter, the Company's inventories increased 6.8% to $218.40 million from $204.46 million in Q4 FY16.
For the reported quarter, Sprouts Farmers Market's long-term debt was $310.00 million compared to $255.00 million in Q4 FY16.
During H1 FY17, Sprouts Farmers Market's cash flow from operating activities increased 21.6% to $179.88 million from $147.94 million in H1 FY16.
During Q2 FY17, the Company repurchased 1.8 million shares of common stock totaling $40 million.
During Q2 FY17, the Company opened 13 new stores including two each in Colorado, Florida, Georgia, and Texas, and five in California.
For FY17, Sprouts Farmers Market expects net sales growth to be in the range of 13%-14% and comparable store sales growth to be in the range of 1.5%-2.0%.
The Company estimates diluted EPS to be in the range of $0.88-$0.92 and capital expenditure to be in the band of $155 million-$165 million for fiscal 2017.
Sprouts Farmers Market's share price finished yesterday's trading session at $23.95, marginally advancing 0.34%. A total volume of 1.43 million shares have exchanged hands. The Company's stock price surged 2.13% in the last three months, 26.05% in the past six months and 4.27% in the previous twelve months. Additionally, the stock rallied 26.59% since the start of the year. Shares of the Company have a PE ratio of 26.58 and currently have a market cap of $3.20 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
© 2017 Accesswire. All Rights Reserved.