Sprouts Farmers Market, Inc. · NASDAQ:SFM
Sprouts Farmers Market — Q3 2024 Earnings Presentation
10 slides from Sprouts Farmers Market's earnings presentation, Oct 30, 2024
Slide 1: Q3 2024 Earnings
Q3 2024 Earnings October 2024
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements Certain statements in this presentation are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact (including, but not limited to, statements to the effect that Sprouts
Slide 3: Third Quarter 2024 Highlights
Third Quarter 2024 Highlights Net Sales +14% Comps(1) +8.4% Diluted EPS $0.91 EPS Growth(2) +40% New Store Openings 9 Cash Generation $209M From Operations Share Repurchases(3) $25M (1) Comparable Store Sales (2) Reflects comparison of Q3 24 diluted EPS to Q3 23 adjusted diluted EPS (3) Excluding ex
Slide 4: YTD 2024 Highlights
YTD 2024 Highlights Net Sales +11% New Store Openings 21 Cash Generation YTD $520M From Operations Share Repurchases(1) $130M (1) Excluding excise tax 4
Slide 5: Third Quarter Sales Drivers
Third Quarter Sales Drivers • Strong performance across all categories and geographies • Compelling comparable sales in recent vintages • Improved In-store traffic • Continued strong E-commerce growth • Enhanced store experience from themed merch events, better in-stocks and great customer service •
Slide 6: Maintaining a Structurally Improved Margin Profile
Maintaining a Structurally Improved Margin Profile GROSS MARGIN % (1) EBIT & EBIT MARGIN % (2) 36.7% 38.1% 36.6% 6.3% 33.1% ($ in mm) 5.7% 5.3% $122 $90 $90 2.7% $40 Q3 19 Q3 22 Q3 23 Q3 24 Q3 19 Q3 22 Q3 23 Q3 24 (1) Q3 23 gross margin is on an adjusted basis. See the Appendix to this presentation
Slide 7: Strong Balance Sheet, Robust Cash Flows
Strong Balance Sheet, Robust Cash Flows Self Fund our Growth and Deliver Shareholder Value through Ongoing Share Repurchase Program ($ in mm) $520 $409 $323 $307 $180 $163 $130 $155 $157 $132 $130 $71 Q3 19 YTD Q3 22 YTD Q3 23 YTD Q3 24 YTD (1) (2) Cap Ex Share Repurchase Operating Cash Flow (1) Cap
Slide 8: Full-Year 2024 Outlook
Full-Year 2024 Outlook Total sales growth of approximately 12.0% Comp sales growth of approximately 7.0% Expect to open 33 new stores (the opening of two Florida stores affected by hurricane Milton are expected to be postponed to the first quarter 2025) Earnings before interest & taxes (EBIT) $490 m
Slide 9: Appendix
Appendix 9
Slide 10: Non-GAAP Measure Reconciliation (Unaudited)
Appendix The following table shows a reconciliation of adjusted gross margin to gross margin, EBIT and adjusted EBIT to net income, adjusted EBIT margin to EBIT margin, as well as a reconciliation of adjusted net income and adjusted diluted earnings per share to net income and diluted earnings per s
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