Sprouts Farmers Market, Inc. · NASDAQ:SFM
Sprouts Farmers Market — Q2 2024 Earnings Presentation
10 slides from Sprouts Farmers Market's earnings presentation, Jul 29, 2024
Slide 1: Q2 2024 Earnings
SEROUTS Q2 2024 Earnings July 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: Second Quarter 2024 Highlights
Second Quarter 2024 Highlights Net Sales +12% Comps(1) +6.7% Diluted EPS $0.94 EPS Growth(2) +32% New Store Openings 5 Cash Generation $92M From Operations Share Repurchases(3) $44M 1. Comparable Store Sales 2. Reflects comparison of Q2 24 diluted EPS to Q2 23 adjusted diluted EPS 3. Excluding excis
Slide 4: YTD 2024 Highlights
YTD 2024 Highlights Net Sales +10% New Store Openings 12 Cash Generation YTD $311M From Operations Share Repurchases(1) $104M 1. Excluding excise tax 4
Slide 5: Second Quarter Sales Drivers
Second Quarter Sales Drivers • Healthy balance of traffic vs ticket, and e-commerce vs brick & mortar • Strong performance across all categories • Foraging Team driving innovative and trending products, in both branded and Sprouts Brand • Enhanced store experience from themed merch events, better in
Slide 6: Maintaining a Structurally Improved Margin Profile
Maintaining a Structurally Improved Margin Profile GROSS MARGIN % (1) EBIT & EBIT MARGIN % (2) ($ in mm) (1) Q2 23 gross margin is on an adjusted basis. See the Appendix to this presentation for a reconciliation of gross margin to adjusted gross margin. (2) Q2 23 EBIT and EBIT margin are presented o
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) (1) (2) 1. Capital expenditures are net of landlord reimbursement 2. Excluding excise tax 7
Slide 8: Full-Year 2024 Outlook
Full-Year 2024 Outlook Total sales growth of 9% to 10% Comp sales growth of 4% to 5% Expect to open approximately 35 new stores Earnings before interest & taxes (EBIT) $445 million to $455 million Adjusted diluted earnings per share (EPS) $3.29 to $3.37 Capex (net of landlord reimbursement) $225 mil
Slide 9: Appendix
Appendix 9
Slide 10: Appendix: Non-GAAP Measure Reconciliation
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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