Sprouts Farmers Market, Inc. · NASDAQ:SFM
Sprouts Farmers Market — Q1 2023 Earnings Presentation
11 slides from Sprouts Farmers Market's earnings presentation, May 1, 2023
Slide 1: Q1 2023 Earnings
Q1 2023 Earnings May 2023 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 (including, but not limited to, statements to the effect that Sprouts Farmers Market, Inc. (the “Company”) or its
Slide 3: First Quarter 2023 Highlights
First Quarter 2023 Highlights Net Sales +6% Comps (1) +3.1% Adj. diluted EPS(2) $0.98 EPS Growth (3) 24% New Store Openings 8 Cash Generation $180M From Operations Share Repurchases $98M Comparable Store Sales See the Appendix to this presentation for a reconciliation of diluted EPS to Adjusted dilu
Slide 4: First Quarter Sales Drivers
First Quarter Sales Drivers Emerging Markets seeing positive trends & on average new stores exceeding expectations Differentiated departments (e.g. Deli, Dairy, Bakery, and Grocery) experience year-over-year growth Ecommerce grew double digits and remains elevated
Slide 5: Maintaining a Structurally Improved Margin Profile
Maintaining a Structurally Improved Margin Profile 5 ($ in mm) ADJUSTED EBIT & Adjusted EBIT Margin(1) See the Appendix to this presentation for a reconciliation of EBIT to adjusted EBIT; For Q1’2021 & Q1’2022, adjustments to EBIT were immaterial; thus, only EBIT is presented.
Slide 6: Driving Shareholder Value Through An Ongoing Share Repurchase Program
From 2015 through Q1 2023: Repurchased 60 million shares Reduced shares outstanding by 39% $314M remaining on our share repurchase authorization* Total Share Repurchase Driving Shareholder Value Through An Ongoing Share Repurchase Program ($ in mm) * As of April 2, 2023 $0
Slide 7: Full-Year 2023 Outlook
Full-Year 2023 Outlook Approximately 30 new stores, closing 11, and acquired 2 previously licensed stores Capex $210M to $230M Second Quarter, 2023: Comp sales growth approximately 3% and Adjusted diluted EPS $0.61 to $0.65 Total sales growth of 5% to 6% Comp sales growth of 2% to 3% Adjusted earnin
Slide 8: Expanding our Omni Channel Experience
Expanding our Omni Channel Experience In-store Pick-up & Delivery available to all customers in all stores Ecommerce Penetration 50% of online orders can be identified to a customer
Slide 9: Continuing to Expand Customer Engagement
Continuing to Expand Customer Engagement; “Speaking” to more than 6M Customers Across Digital Platforms 9 Digitally connecting with customers Active SMS Subscribers Active Email Subscribers Active Push Subscribers Identifiable Customers: 8.9% of customers can be linked back to a Sprouts Account An i
Slide 10: Appendix
Appendix
Slide 11: Non-GAAP Measure Reconciliation
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES NON-GAAP MEASURE RECONCILIATION (UNAUDITED) (IN THOUSANDS) The following table shows a reconciliation of EBIT and adjusted EBIT to net income, as well as a reconciliation of net income and diluted earnings per share to adjusted net income and adjusted di
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