附錄99.1
| 投資者聯繫： | 媒體聯繫人: | ||||
| 蘇珊娜·利文斯頓 | media@sprouts.com | ||||
| (602) 682-1584 | |||||
| susannahlivingston@sprouts.com | |||||
Sprouts Farmers Market, Inc.報告2024年第三季度業績
鳳凰城，亞利桑那州-（商業線）- 2024年10月30日 - Sprouts Farmers Market, Inc.（納斯達克：SFM）今日公布了截至2024年9月29日的13週第三季度業績。
「第三季度是我們 sprouts farmers market 團隊再次傑出的表現，」sprouts farmers market 首席執行官傑克·辛克萊說。「我們正推動強勁的客流增長，並繼續保持高水平的執行能力。我們對自己的長期增長潛力充滿信心。」
第三季度亮點:
•淨銷售額 達到19億美元；較2023年同期增加14%
•可比店面銷售
成長率為8.4%
•每股普通股稀釋每股收益 每股基本收益$0.91；相較於每股稀釋收益$0.64和調整後每股稀釋收益$0.65(1) 在2023年同期
•開設了9家新店。 導致 在2024年9月29日，共在23個州開設了428家店。 截至2024年9月29日
(1)調整後的每股稀釋盈利，一項非GAAP財務指標，不包括特定特殊項目的影響。 第三方 第一季度結束於 2019 年 3 月 30 日的財務業績 2024年9月29日，未因特殊項目進行任何調整。 請參閱本公告的“非GAAP財務指標”部分，以獲取有關此項目的更多信息。
2024年第三季度的槓桿與流動性
•季度結束時現金及現金等價物餘額為31000萬美元。 現金及現金等價物 並且在其70000萬美元循環信貸設施上的餘額為零。
•回購了26.4萬股 普通股份 總投資為2,500萬美元，不包含貨物稅
•截至2024年9月29日止，自營業現金流入為5.2億美元，並投資了1.32億美元。 現金來自營運 和投資13200萬美元 資本支出淨額，截至2024年9月29日。 截至2024年9月29日，扣除房東補償金。 截至2024年9月29日止當年累計至今。
2024年第四季度和全年 展望
以下提供了我們2024年第四季度展望的資訊：
•可比店面銷售增長： 8.0% 至 10.0%
•每股調整稀釋盈利： 0.67至0.71美元
以下提供我們2024年全年展望的資訊：
•淨銷售增長率： 約12.0%
•可比店鋪銷售增長： 約為7.0%
•調整後的息稅前利潤：49000萬至495百萬美元
•每股調整稀釋盈利： $3.64 至 $3.68
•單位增長： 33家新店；受颶風米爾頓影響，預計佛羅里達州兩家店鋪的開業將延遲至2025年第一季度。
•資本支出（扣除房東補償）： 20500萬至21500萬美元
2024年第三季度電話會議
Sprouts將於2024年10月30日星期三下午5:00（東部時間）舉行電話會議，屆時Sprouts的高層將進一步討論2024年第三季度的財務結果。
投資者可通過以下連結訪問Sprouts的投資者關係網頁，觀看會議呼叫的網絡廣播。參與者應該在網絡廣播開始前約十分鐘在該網站註冊。
網絡直播重播將於2024年10月30日晚上8:00東部時間提供。您可以通過以下鏈接訪問。
關於展望的重要資訊
不能保證Sprouts能夠實現其預期的財務期望，這些期望基於管理層的估計、目前可獲得的信息和管理層認為是合理的假設。這些期望本質上受到重大經濟、競爭和其他不確定性和緊急情況的影響，其中很多是管理層無法控制的。請參見下文的“前瞻性聲明”。
前瞻性陳述
本新聞稿中的某些陳述係前瞻性陳述，依據1995年《私人證券訴訟改革法案》的定義。任何此處所含非歷史事實陳述（包括但不限於，表明Sprouts Farmers Market或其管理層"預期"、"計劃"、"估計"、"預期"或"相信"等表述，或這些衍生詞和其他類似表述）應被視為前瞻性陳述，包括但不限於關於公司前景、增長、機遇和長期策略的陳述。這些陳述涉及特定風險和不確定性，可能導致實際結果與本發布日期的預期有實質不同。這些風險和不確定性包括但不限於公司執行長期策略的能力；公司在競爭激烈的行業板塊成功競爭的能力；公司成功開設新店的能力；公司管理增長的能力；公司保持或改善其營運利潤的能力；公司識別和回應消費者偏好趨勢的能力；產品供應中斷；設備供應中斷；影響消費支出或導致競爭性響應的一般經濟條件；會計標準變化；當前通貨膨脹環境和未來潛在通貨膨脹和/或通貨緊縮趨勢；以及其他因素，如公司不時向證券交易委員會提交的文件中所載，包括但不限於公司的10-k表格年度報告和10-Q表格季度報告。公司打算這些前瞻性陳述僅代表本發布日期時的情況，除非法律要求，否則不承諾更新或修訂這些陳述隨著更多資訊的提供而變得可能。
公司簡介
保持農貨市集傳統的特點，Sprouts提供獨特的食品零售體驗，店內裝潢開放，新鮮產品位於商店的核心位置。Sprouts透過精心挑選的更適合您的產品，搭配以發展目的為本的團隊，自然地激發健康。這家健康雜貨店繼續帶來最新的天然創新產品，以有機、植物基和無麩質等適合生活方式的成分製成。總部位於鳳凰城，是美國最大且增長最快的新鮮、天然和有機食品專賣零售商之一，Sprouts 雇員數約33,000人，遍布全美23個州的420多家店。欲了解更多有關Sprouts及其為社區帶來的益處，請造訪 about.sprouts.com.
SPROUTS FARMERS MARKET, INC.及其附屬公司
綜合損益表
(未經查核)
(以千為单位，除每股金額外)
| 十三周結束 | 三十九周結束 | ||||||||||||||||||||||
| 2024年9月29日 | 2023年10月1日 | 2024年9月29日 | 2023年10月1日 | ||||||||||||||||||||
| 淨銷售額 | $ | 1,945,735 | $ | 1,713,282 | $ | 5,723,062 | $ | 5,138,839 | |||||||||||||||
| 銷貨成本 | 1,204,812 | 1,087,848 | 3,541,461 | 3,237,371 | |||||||||||||||||||
| 毛利潤 | 740,923 | 625,434 | 2,181,601 | 1,901,468 | |||||||||||||||||||
| 銷售、一般及管理費用 | 580,332 | 502,801 | 1,676,470 | 1,486,961 | |||||||||||||||||||
| 折舊和攤銷（不包括成本銷售中包含的折舊） | 34,408 | 31,802 | 98,129 | 99,834 | |||||||||||||||||||
| 店面關閉及其他成本，淨額 | 3,732 | 3,176 | 8,968 | 33,880 | |||||||||||||||||||
| 營業收入 | 122,451 | 87,655 | 398,034 | 280,793 | |||||||||||||||||||
| 利息（收入）支出淨額 | (1,061) | 1,698 | (382) | 6,058 | |||||||||||||||||||
| 稅前收入 | 123,512 | 85,957 | 398,416 | 274,735 | |||||||||||||||||||
| 所得稅負擔 | 31,902 | 20,644 | 97,417 | 65,928 | |||||||||||||||||||
| 凈利潤 | $ | 91,610 | $ | 65,313 | $ | 300,999 | $ | 208,807 | |||||||||||||||
| 每股淨利潤： | |||||||||||||||||||||||
| 基礎 | $ | 0.91 | $ | 0.64 | $ | 2.99 | $ | 2.03 | |||||||||||||||
| 稀釋 | $ | 0.91 | $ | 0.64 | $ | 2.97 | $ | 2.01 | |||||||||||||||
| 加權平均股本數: | |||||||||||||||||||||||
| 基礎 | 100,148 | 101,881 | 100,560 | 102,844 | |||||||||||||||||||
| 稀釋 | 101,025 | 102,703 | 101,469 | 103,758 | |||||||||||||||||||
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
| September 29, 2024 | December 31, 2023 | ||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 309,668 | $ | 201,794 | |||||||
| Accounts receivable, net | 25,073 | 30,313 | |||||||||
| Inventories | 329,472 | 323,198 | |||||||||
| Prepaid expenses and other current assets | 29,384 | 48,467 | |||||||||
| Total current assets | 693,597 | 603,772 | |||||||||
| Property and equipment, net of accumulated depreciation | 851,443 | 798,707 | |||||||||
| Operating lease assets, net | 1,437,280 | 1,322,854 | |||||||||
| Intangible assets | 208,060 | 208,060 | |||||||||
| Goodwill | 381,750 | 381,741 | |||||||||
| Other assets | 13,407 | 12,294 | |||||||||
| Total assets | $ | 3,585,537 | $ | 3,327,428 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 198,246 | $ | 179,927 | |||||||
| Accrued liabilities | 206,153 | 164,887 | |||||||||
| Accrued salaries and benefits | 81,528 | 74,752 | |||||||||
| Accrued income tax | 1,392 | — | |||||||||
| Current portion of operating lease liabilities | 127,558 | 126,271 | |||||||||
| Current portion of finance lease liabilities | 1,147 | 1,032 | |||||||||
| Total current liabilities | 616,024 | 546,869 | |||||||||
| Long-term operating lease liabilities | 1,517,192 | 1,399,676 | |||||||||
| Long-term debt and finance lease liabilities | 7,731 | 133,685 | |||||||||
| Other long-term liabilities | 37,560 | 36,270 | |||||||||
| Deferred income tax liability | 63,538 | 62,381 | |||||||||
| Total liabilities | 2,242,045 | 2,178,881 | |||||||||
| Commitments and contingencies | |||||||||||
| Stockholders’ equity: | |||||||||||
| Undesignated preferred stock; $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding | — | — | |||||||||
Common stock, $0.001 par value; 200,000,000 shares authorized, 100,039,217 shares issued and outstanding, September 29, 2024; 101,211,984 shares issued and outstanding, December 31, 2023 | 100 | 101 | |||||||||
| Additional paid-in capital | 799,487 | 774,834 | |||||||||
| Retained earnings | 543,905 | 373,612 | |||||||||
| Total stockholders’ equity | 1,343,492 | 1,148,547 | |||||||||
| Total liabilities and stockholders’ equity | $ | 3,585,537 | $ | 3,327,428 | |||||||
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)
| Thirty-nine weeks ended | |||||||||||
| September 29, 2024 | October 1, 2023 | ||||||||||
| Operating activities | |||||||||||
| Net income | $ | 300,999 | $ | 208,807 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Depreciation and amortization expense | 103,881 | 103,668 | |||||||||
| Operating lease asset amortization | 99,278 | 94,403 | |||||||||
| Impairment of assets | — | 27,845 | |||||||||
| Share-based compensation | 19,925 | 14,731 | |||||||||
| Deferred income taxes | 1,170 | (13,225) | |||||||||
| Other non-cash items | 3,116 | 596 | |||||||||
| Changes in operating assets and liabilities, net of effects from acquisition: | |||||||||||
| Accounts receivable | 30,273 | 10,070 | |||||||||
| Inventories | (6,275) | (11,322) | |||||||||
| Prepaid expenses and other current assets | 18,595 | 21,093 | |||||||||
| Other assets | 219 | 3,870 | |||||||||
| Accounts payable | 25,556 | 27,446 | |||||||||
| Accrued liabilities | 37,877 | 19,027 | |||||||||
| Accrued salaries and benefits | 6,777 | 4,509 | |||||||||
| Accrued income tax | 1,392 | — | |||||||||
| Operating lease liabilities | (122,646) | (103,787) | |||||||||
| Other long-term liabilities | 214 | 1,294 | |||||||||
| Cash flows from operating activities | 520,351 | 409,025 | |||||||||
| Investing activities | |||||||||||
| Purchases of property and equipment | (161,687) | (165,016) | |||||||||
| Payments for acquisition, net of cash acquired | — | (13,032) | |||||||||
| Cash flows used in investing activities | (161,687) | (178,048) | |||||||||
| Financing activities | |||||||||||
| Payments on revolving credit facilities | (125,000) | (100,000) | |||||||||
| Payments on finance lease liabilities | (840) | (749) | |||||||||
| Repurchase of common stock | (129,698) | (180,415) | |||||||||
| Proceeds from exercise of stock options | 4,729 | 8,844 | |||||||||
| Cash flows used in financing activities | (250,809) | (272,320) | |||||||||
| Increase/(decrease) in cash, cash equivalents, and restricted cash | 107,855 | (41,343) | |||||||||
| Cash, cash equivalents, and restricted cash at beginning of the period | 203,870 | 295,192 | |||||||||
| Cash, cash equivalents, and restricted cash at the end of the period | $ | 311,725 | $ | 253,849 | |||||||
Non-GAAP Financial Measures
In addition to reporting financial results in accordance with accounting principles generally accepted in the United States (“GAAP”), the company presents Adjusted gross margin, Adjusted EBITDA, Adjusted EBIT, and Adjusted diluted earnings per share. These measures are not in accordance with, and are not intended as alternatives to, GAAP. The company's management believes that this presentation provides useful information to management, analysts and investors regarding certain additional financial and business trends relating to its results of operations and financial condition. In addition, management uses these measures for reviewing the financial results of the company, and certain of these measures may be used as components of incentive compensation.
The company defines EBITDA as net income before interest expense, provision for income tax, and depreciation, amortization and accretion. Adjusted gross margin, Adjusted EBITDA, Adjusted EBIT and Adjusted diluted earnings per share exclude the impact of certain specified special items. The Company reported these adjusted measures to provide additional information with respect to the impact of store closure costs and certain other items during the thirteen and thirty-nine weeks ended October 1, 2023. There were no such material adjustments during the thirteen and thirty-nine weeks ended September 29, 2024.
Non-GAAP measures are intended to provide additional information only and do not have any standard meanings prescribed by GAAP. Use of these terms may differ from similar measures reported by other companies. Because of their limitations, non-GAAP measures should not be considered as a measure of discretionary cash available to use to reinvest in the growth of the company’s business, or as a measure of cash that will be available to meet the company’s obligations. Each non-GAAP measure has its limitations as an analytical tool, and they should not be considered in isolation or as a substitute for analysis of the company’s results as reported under GAAP.
The following table shows a reconciliation of (i) Adjusted gross margin to gross margin, (ii) Adjusted EBITDA and Adjusted EBIT to net income and (iii) Adjusted diluted earnings per share to diluted earnings per share, in each case, for the thirteen and thirty-nine weeks ended September 29, 2024 and October 1, 2023:
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
NON-GAAP MEASURE RECONCILIATION
(UNAUDITED)
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
| Thirteen weeks ended | Thirty-nine weeks ended | ||||||||||||||||||||||
| September 29, 2024 | October 1, 2023 | September 29, 2024 | October 1, 2023 | ||||||||||||||||||||
| Gross profit | $ | 740,923 | $ | 625,434 | $ | 2,181,601 | $ | 1,901,468 | |||||||||||||||
Special items (1) | — | 1,302 | — | 2,955 | |||||||||||||||||||
| Adjusted gross profit | $ | 740,923 | $ | 626,736 | $ | 2,181,601 | $ | 1,904,423 | |||||||||||||||
| Gross margin | 38.1 | % | 36.5 | % | 38.1 | % | 37.0 | % | |||||||||||||||
| Adjusted gross margin | 38.1 | % | 36.6 | % | 38.1 | % | 37.1 | % | |||||||||||||||
| Net income | $ | 91,610 | $ | 65,313 | $ | 300,999 | $ | 208,807 | |||||||||||||||
| Income tax provision | 31,902 | 20,644 | 97,417 | 65,928 | |||||||||||||||||||
| Interest (income) expense, net | (1,061) | 1,698 | (382) | 6,058 | |||||||||||||||||||
| Earnings before interest and taxes (EBIT) | 122,451 | 87,655 | 398,034 | 280,793 | |||||||||||||||||||
Special items (2) | — | 2,392 | — | 46,034 | |||||||||||||||||||
| Adjusted EBIT | 122,451 | 90,047 | 398,034 | 326,827 | |||||||||||||||||||
| Depreciation, amortization and accretion, adjusted for special items | 36,125 | 33,655 | 103,881 | 97,789 | |||||||||||||||||||
| Adjusted EBITDA | $ | 158,576 | $ | 123,702 | $ | 501,915 | $ | 424,616 | |||||||||||||||
| Net income | $ | 91,610 | $ | 65,313 | $ | 300,999 | $ | 208,807 | |||||||||||||||
Special items, net of tax (2) | — | 1,780 | — | 34,272 | |||||||||||||||||||
| Adjusted net income | $ | 91,610 | $ | 67,093 | $ | 300,999 | $ | 243,079 | |||||||||||||||
| Diluted earnings per share | $ | 0.91 | $ | 0.64 | $ | 2.97 | $ | 2.01 | |||||||||||||||
| Adjusted diluted earnings per share | $ | 0.91 | $ | 0.65 | $ | 2.97 | $ | 2.34 | |||||||||||||||
| Diluted weighted average shares outstanding | 101,025 | 102,703 | 101,469 | 103,758 | |||||||||||||||||||
(1)For the thirteen and thirty-nine weeks ended September 29, 2024, there were no special items. For the thirteen and thirty-nine weeks ended October 1, 2023, special items included approximately $1 million and $3 million, respectively, in Cost of sales related to store closures and our supply chain transition.
(2)For the thirteen and thirty-nine weeks ended September 29, 2024, there were no special items. For the thirteen weeks ended October 1, 2023, special items included approximately $1 million in Selling, general and administrative expenses primarily related to store closures and $1 million in Cost of sales related to our supply chain transition. For the thirty-nine weeks ended October 1, 2023, special items included approximately $28 million in Store Closure and other costs, net primarily related to impairment charges and $6 million in Depreciation and amortization (exclusive of depreciation in cost of sales) for accelerated depreciation in connection with store closures, $9 million in Selling, general and administrative expenses related to store closures, our supply chain transition and acquisition related costs, and $3 million in Cost of sales related to store closures and our supply chain transition. After-tax impact included the tax benefit on the pre-tax charge.
###
Source: Sprouts Farmers Market, Inc
Phoenix, AZ
10/30/24