Whole Foods Market Earnings: Here’s Why Investors Like These Results
Whole Foods Market, Inc. (NASDAQ:WFM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 8.07%.
Whole Foods Market, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.75% to $0.76 in the quarter versus EPS of $0.64 in the year-earlier quarter.
Revenue: Rose 13.36% to $3.03 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Whole Foods Market, Inc. reported adjusted EPS income of $0.76 per share. By that measure, the company beat the mean analyst estimate of $0.73. It missed the average revenue estimate of $3.03 billion.
Quoting Management: “We delivered another quarter of strong sales and earnings growth, reporting record results on many levels,” said John Mackey, co-founder and co-chief executive officer of Whole Foods Market. “The demand for fresh, healthy foods continues to grow, and we are leading the way as America’s healthiest grocery store with close to seven million customers visiting our stores each week. We believe we will continue to gain market share as we accelerate our new store openings, improve our relative value proposition while maintaining our high quality standards, and further differentiate our shopping experience.”
Key Stats (on next page)…