Sprouts Farmers Market lifts guidance after mixed q3 results

This post was originally published on this site

https://i-invdn-com.investing.com/news/LYNXNPED920G3_M.jpg

Investing.com — Sprouts Farmers Market lifted its full-year guidance after reporting mixed third-quarter results. 

Sprouts Farmers Market (NASDAQ:SFM) rose more than 4% in afterhours trading following the report.

The company reported EPS of $0.61 per diluted share on revenue of $1.59 billion, compared with estimates for $0.51 per share and $1.58B, respectively. 

Looking ahead to Q4, the company expects adjusted EPS in a range of $0.35 to $0.39, in line with expectations for $0.33.

For the full year, Sprouts Farmers lifted its adjusted EPS to between $2.32 and $2.36 and sales to grow from 4.5% to 5%, compared with a prior estimate for adjusted EPS of $2.18 to $2.26 and sales growth of 4% to 5% outlined in August. 

“Due to our strong performance to date, we are raising our full-year outlook,” said Chip Molloy, chief financial officer of Sprouts Farmers Market.