Sprouts Farmers Market shares were down over 3% Thursday although the company reported Q2 results that topped analyst estimates and raised its full-year EPS outlook. EPS in the quarter ended July 2 was $0.29 compared with $0.25 a year earlier. Analysts in a Capital IQ survey expected $0.25 on average.
Revenue rose to $1.18 billion from $1.03 billion a year earlier and just topped the $1.17 billion estimate of analysts. The company forecasts full-year EPS at $0.88 to $0.92, higher than its previous estimate of $0.87 to $0.91. Analysts expect EPS of $0.91 for the full year. It also expects net sales growth of 13% to 14%, up from a prior view for 12.5% to 13.5% sales growth.