Sprouts Farmers Market Q2 Profit Rises; Lifts FY14 Adj. EPS Outlook

(RTTNews) - Sprouts Farmers Market, Inc. (SFM) Thursday reported second-quarter net earnings of $30.2 million, or $0.20 per share, compared to $12.5 million, or $0.10 per share, in the comparable quarter last year.

Adjusted net income for the latest second quarter was $30.22 million, or $0.20 per share, up from $17.97 million or $0.14 per share in the previous year quarter.

First-quarter sales increased 20% to $743.81 million from $622.37 million last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenues of $741.05 million. Analysts' estimates typically exclude special items.

For the full year, the company raised its adjusted earnings to a range of $0.65 per share to $0.67 per share from its prior range of $0.63 to $0.65 per share. Analysts now expect earnings of $0.67 per share for the full year.