Sprouts Farmers Market, Inc. · NASDAQ:SFM
Sprouts Farmers Market — Q4 2023 Earnings Presentation
11 slides from Sprouts Farmers Market's earnings presentation, Feb 22, 2024
Slide 1: Q4 & Full-Year 2023 Earnings
Q4 & Full-Year 2023 Earnings February 2024 Exhibit 99.2
Slide 2: Forward-Looking Statements
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: Sprouts 2023 Accomplishments
Sprouts 2023 Accomplishments Opened 30 new stores, all in the new format Sales of Sprouts Brand grew 13% in 2023 and added 400 new items Created supply chain capacity with a new California DC and expanded Texas DC to support Sprouts’ long-term growth E-commerce grew to 12.2% of our sales and added D
Slide 4: Fourth Quarter 2023 Highlights
Fourth Quarter 2023 Highlights Net Sales +8% Comps(1) +3.3% Diluted EPS $0.49 EPS Growth(2) +17% New Store Openings 6 Share Repurchases(3) $23M Comparable Store Sales Reflects comparison of Q4 23 diluted EPS to Q4 22 diluted EPS Excluding excise tax
Slide 5: Fourth Quarter Sales Drivers
Fourth Quarter Sales Drivers Solid positive traffic trends continue in-store and online Added Uber Eats to our Omnichannel offering to expand access to Sprouts Differentiated departments (e.g., Proteins, Grocery, Dairy, and Frozen) driving results Strength in Sprouts Brand, including new holiday ite
Slide 6: Full-Year 2023 Highlights
Full-Year 2023 Highlights Net Sales +7% Comps(1) +3.4% Adj. diluted EPS(2) $2.84 EPS Growth(3) 19% New Stores 30 Cash Generation $465M From Operations Share Repurchases (4) $203M Comparable Store Sales See the Appendix to this presentation for a reconciliation of diluted EPS to Adjusted diluted EPS
Slide 7: Maintaining a Structurally Improved Margin Profile
Maintaining a Structurally Improved Margin Profile 7 (1) 2023 gross margin is on an adjusted basis. See the Appendix to this presentation for a reconciliation of gross margin to adjusted gross margin (2) See the Appendix to this presentation for a reconciliation of EBIT to adjusted EBIT - for 2022,
Slide 8: Strong Balance Sheet, Robust Cash Flows Self Fund our Growth
Strong Balance Sheet, Robust Cash Flows Self Fund our Growth and Deliver Shareholder Value through Ongoing Share Repurchase Program ($ in mm) Capital expenditures are net of landlord reimbursement Excluding excise tax (1) (2)
Slide 9: Full-Year 2024 Outlook
Full-Year 2024 Outlook Expect to open approximately 35 new stores Capex $225M to $245M First Quarter, 2024: Comp sales growth of 2.5% to 3.5% and adj. diluted EPS $0.98 to $1.02 Total sales growth of 5.5% to 7.5% Comp sales growth of 1.5% to 3.5% Adj. earnings before interest & taxes (EBIT) $397M to
Slide 10: Appendix
Appendix
Slide 11: Non-GAAP Measure Reconciliation
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES NON-GAAP MEASURE RECONCILIATION (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) The following table shows a reconciliation of adjusted gross profit to gross profit, adjusted gross margin to gross margin, EBIT and adjusted EBIT to net income, adjuste
Sprouts Farmers Market — Q4 2023 Earnings Presentation on 6ix