Sprouts Farmers Market, Inc. (NASDAQ: SFM) shares gain by leaps and bounds Wednesday after its financial numbers saw the light of day.
Third-quarter Net sales totaled $1.6 billion; a 5% increase from the same period in 2021, with comparable store sales growth of 2.4%
Diluted earnings per share of $0.61; compared to diluted earnings per share of $0.56 in the same period in 2021
The company opened one new store, resulting in 379 stores in 23 states as of October 2.
Sprouts ended the quarter with $316 million in cash and cash equivalents and a $250 million balance on its $700 million revolving credit facility
Repurchased 1.6 million shares of common stock for a total investment of $44 million
Generated cash from operations of $307 million and invested $71 million in capital expenditures, net of landlord reimbursement, year-to-date.
Added CEO Jack Sinclair “”I thank the team for their collaboration and commitment in delivering these results and most importantly, their dedication to helping our customers discover better, healthier eating. We are excited about bringing the holiday season to life in our stores and are well-positioned to benefit from the ongoing health and wellness trends.”
“Due to our strong performance to date, we are raising our full-year outlook,” said CFO Chip Molloy. “We remain focused on controlling the controllable to deliver strong results and create sustainable shareholder value for the long-term.”
SFM shares galloped $3.88, or 13.6%, to $32.55.