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Sprouts Farmers Market, Inc. (NASDAQ:SFM ) Q2 2024 Earnings Conference Call July 29, 2024 5:00 PM ET Company Participants Susannah Livingston - VP of IR and Treasurer Jack Sinclair - CEO Curtis Valentine - CFO Conference Call Participants John Heinbockel - Guggenheim Securities Leah Jordan - Goldman Sachs Mark Carden - UBS Rupesh Parikh - Oppenheimer Michael Montani - Evercore ISI Ken Goldman - JPMorgan Robert Ohmes - Bank of America Kelly Bania - BMO Capital Markets Krisztina Katai - Deutsche Bank Edward Kelly - Wells Fargo Karen Short - Melius Research Operator Good day, thank you for standing by. Welcome to the Sprouts Farmers Market Second Quarter 2024 Earnings Conference Call.
The headline numbers for Sprouts Farmers (SFM) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Sprouts Farmers (SFM) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.71 per share a year ago.
Sprouts aims to increase the number of stores by 10% per year, and currently appears to be managing to maintain this pace. The company has grown significantly in recent years, and currently shows strong fundamentals. The stock has seen a growth of 111% in a year, and through my valuation, I believe there is still room for further growth.
Besides Wall Street's top -and-bottom-line estimates for Sprouts Farmers (SFM), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended June 2024.
Sprouts Farmers' (SFM) second-quarter results are likely to reflect the focus on product innovation, targeted marketing and creating a robust omni-channel experience.
Sprouts Farmers' (SFM) approach centers around enriching the customer experience, ensuring that every strategy is tailored to meet customer needs.
Sprouts Farmers (SFM) reachead $82.63 at the closing of the latest trading day, reflecting a -0.08% change compared to its last close.
Goldman Sachs analyst Leah Jordan reiterated a Buy rating on Sprouts Farmers Market, Inc. SFM, raising the price forecast to $89 from $78 due to higher estimates.
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Sprouts Farmers' (SFM) impressive stock performance over the past three months is a testament to its strong financial health, strategic initiatives and competitive positioning.