Sprouts Farmers Market rises on annual forecast raise
SFM•Shares rise after forecast increase
Shares of Sprouts Farmers Market (SFM.O) were up 4% at $82.98 in aftermarket trading after the company raised the lower end of its annual net sales forecast and the upper end of its profit outlook.
Updated annual and quarterly outlook
The company now expects annual net sales growth of 5.5% to 6.5%, compared with its prior forecast of 4.5% to 6.5%.
It also sees annual EPS of $5.32 to $5.40, versus an estimate of $5.32 to $5.48.
Sprouts posted second-quarter EPS of $1.37, compared with an estimate of $1.34.
Management comment on cyclosporiasis outbreak
The company said in its earnings call that it expects a little bit impact from the ongoing cyclosporiasis outbreak, with most of the effect expected in the third quarter.
As of the last close, the stock was down about 1% year to date.
