Sprouts Farmers Market Q1 Profit Rises; Lifts FY14 Adj. EPS Outlook

(RTTNews) - Sprouts Farmers Market, Inc. (SFM) Wednesday reported first-quarter net earnings of $33.7 million, or $0.22 per share, compared to $18.1 million, or $0.14 per share, in the comparable quarter last year.

Adjusted net income for the latest first quarter was $35.4 million, or $0.23 per share, up from $18.6 million or $0.14 per share in the previous year quarter.

First-quarter sales increased 26% to $722.61 million from $573.69 million last year.

On average, analysts polled by Thomson Reuters expected the company to earn $0.19 per share on revenues of $716.49 million. Analysts' estimates typically exclude special items.

For the full year, the company raised its adjusted earnings to a range of $0.63 per share to $0.65 per share from its prior range of $0.58 to $0.60 per share. Analysts now expect earnings of $0.63 per share for the full year.