Shares of Sprouts Farmers Market Inc. saw big gains on Wednesday following a strong earnings report that beat Wall Street’s expectations.
Sprouts shares finished Wednesday's trading session with a gain of $3.49, or $12.2%, to close at $32.16 in heavy volume. Track the stock here.
Sprouts saw sales increase 5% to $1.6 billion, when compared to the same quarter in 2021, which lead to the company posting net earnings of $65.7 million – up 2.9% from 2021. Sprouts reported 61 cents' earnings per share for the quarter. That beat Wall Street’s earnings expectations by 11 cents and revenue expectations by $10 million.
The Phoenix-based specialty grocer credited its top-line increases on better-than-expected sales in its deli area.
