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Sprouts Farmers Market fiscal Q2 profit climbs 12.2% YOY

Sprouts Farmers Market Inc. said its normalized net income for the fiscal second quarter ended June 28 was 22 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS climbed 10.8% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.0 million, a gain of 12.2% from $31.2 million in the prior-year period.

The normalized profit margin fell to 3.9% from 4.2% in the year-earlier period.

Total revenue climbed 21.3% year over year to $902.2 million from $743.8 million, and total operating expenses rose 22.5% year over year to $841.8 million from $687.4 million.

Reported net income came to $31.2 million, or 20 cents per share, compared to $30.8 million, or 20 cents per share, in the prior-year period.