Sprouts Farmers Market, Inc. · NASDAQ:SFM
Sprouts Farmers Market — Q1 2024 Earnings Presentation
9 slides from Sprouts Farmers Market's earnings presentation, May 1, 2024
Slide 1: Q1 2024 Earnings
SEROUTS Q1 2024 Earnings May 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: First Quarter 2024 Highlights
First Quarter 2024 Highlights Net Sales +9% Comps(1) +4.0% Diluted EPS $1.12 EPS Growth(2) +14% New Store Openings 7 Cash Generation $220M From Operations Share Repurchases(3) $60M (1) Comparable Store Sales (2) Reflects comparison of Q1 24 diluted EPS to Q1 23 adjusted diluted EPS (3) Excluding exc
Slide 4: First Quarter Sales Drivers
First Quarter Sales Drivers • Solid positive traffic trends continue in-store and online • Most differentiated departments (e.g., Proteins, Grocery, Dairy, and Frozen) driving results • Online sales expanded, as our partners promoted healthy New Year Trends and with the addition of UberEats as a del
Slide 5: Maintaining a Structurally Improved Margin Profile
Maintaining a Structurally Improved Margin Profile (1) GROSS MARGIN % ADJ EBIT & ADJ EBIT MARGIN 38.3% 37.5% ($ in mm) 7.9% 7.9% 37.3% 8.00% 7.3% 7.00% $148 6.00% 34.3% 5.7% $137 5.00% 4.00% $120 3.00% 2.00% $80 1.00% $50 0.00% Q1 19 Q1 22 Q1 23 Q1 24 Q1 19 Q1 22 Q1 23 Q1 24 (1) See the Appendix to
Slide 6: Strong Balance Sheet, Robust Cash Flows
Strong Balance Sheet, Robust Cash Flows Self Fund our Growth and Deliver Shareholder Value through Ongoing Share Repurchase Program ($ in mm) $220 $180 $153 $113 $98 $112 $60 $46 $45 $46 $24 $22 Q1 19 Q1 22 Q1 23 Q1 24 (1) (2) Cap Ex Share Repurchases Operating Cash Flow (1) Capital expenditures are
Slide 7: Full-Year 2024 Outlook
Full-Year 2024 Outlook Total sales growth of 7.0% to 8.0% Comp sales growth of 2.5% to 3.5% Expect to open approximately 35 new stores Earnings before interest & taxes (EBIT) $415M to $425M Adjusted diluted earnings per share (EPS) $3.05 to $3.13 Capex (net of landlord reimbursement) $225M to $245M
Slide 8: Appendix
Appendix 8
Slide 9: Non-GAAP Measure Reconciliation
Appendix The following table shows a reconciliation of EBIT and adjusted EBIT to net income, adjusted EBIT margin to EBIT margin, as well as a reconciliation of net income and diluted earnings per share to adjusted net income and adjusted diluted earnings per share for the fiscal quarters ended, Mar
Sprouts Farmers Market — Q1 2024 Earnings Presentation on 6ix