$SFM
Sprouts Farmers Market, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021024974 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $1.575B $1.647B
YoY Change -4.1% 16.45%
Cost Of Revenue $989.3M $1.053B
YoY Change -3.97% 13.25%
Gross Profit $586.2M $593.8M
YoY Change -4.32% 22.6%
Gross Profit Margin 37.21% 36.07%
Selling, General & Admin $439.7M $436.3M
YoY Change -10.07% 16.4%
% of Gross Profit 75.01% 73.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.84M $31.60M
YoY Change 1.73% 5.08%
% of Gross Profit 5.43% 5.32%
Operating Expenses $439.7M $467.4M
YoY Change -10.07% 24.7%
Operating Profit $113.2M $127.6M
YoY Change 22.07% 60.38%
Interest Expense -$3.000M -$4.800M
YoY Change -18.92% -4.0%
% of Operating Profit -2.65% -3.76%
Other Income/Expense, Net
YoY Change
Pretax Income $110.2M $122.8M
YoY Change 23.83% 64.71%
Income Tax $27.20M $31.00M
% Of Pretax Income 24.67% 25.24%
Net Earnings $83.05M $91.81M
YoY Change 23.95% 62.81%
Net Earnings / Revenue 5.27% 5.58%
Basic Earnings Per Share $0.70 $0.78
Diluted Earnings Per Share $0.70 $0.78
COMMON SHARES
Basic Shares Outstanding 118.0M 117.5M
Diluted Shares Outstanding 118.6M 117.7M

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $256.0M $247.1M
YoY Change -21.98% 1167.18%
Cash & Equivalents $257.8M $248.7M
Short-Term Investments
Other Short-Term Assets $35.90M $18.10M
YoY Change 145.89% -40.85%
Inventory $271.0M $253.2M
Prepaid Expenses
Receivables $14.50M $12.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $577.3M $530.8M
YoY Change -5.81% 59.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.751B $1.759B
YoY Change -1.76% 2.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.10M $12.00M
YoY Change 2.72% 6.19%
Total Long-Term Assets $2.319B $2.324B
YoY Change -1.31% 1.8%
TOTAL ASSETS
Total Short-Term Assets $577.3M $530.8M
Total Long-Term Assets $2.319B $2.324B
Total Assets $2.897B $2.855B
YoY Change -2.24% 9.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $160.6M $200.8M
YoY Change -4.86% -23.85%
Accrued Expenses $308.3M $311.4M
YoY Change -12.86% 174.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $800.0K
YoY Change 11.11% 33.33%
Total Short-Term Liabilities $490.4M $547.4M
YoY Change -14.39% 44.93%
LONG-TERM LIABILITIES
Long-Term Debt $260.3M $462.2M
YoY Change -43.65% -9.73%
Other Long-Term Liabilities $45.48M $1.120B
YoY Change -95.98% 1.26%
Total Long-Term Liabilities $45.48M $1.583B
YoY Change -97.14% -2.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $490.4M $547.4M
Total Long-Term Liabilities $45.48M $1.583B
Total Liabilities $1.930B $2.185B
YoY Change -13.07% 6.04%
SHAREHOLDERS EQUITY
Retained Earnings $282.8M
YoY Change
Common Stock $691.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $966.9M $670.7M
YoY Change
Total Liabilities & Shareholders Equity $2.897B $2.855B
YoY Change -2.24% 9.12%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $83.05M $91.81M
YoY Change 23.95% 62.81%
Depreciation, Depletion And Amortization $31.84M $31.60M
YoY Change 1.73% 5.08%
Cash From Operating Activities $105.4M $277.1M
YoY Change -9.26% 146.06%
INVESTING ACTIVITIES
Capital Expenditures $16.61M $28.04M
YoY Change -145.37% -6.99%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$16.61M -$28.04M
YoY Change -54.63% -6.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.209M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.491M -87.15M
YoY Change -307.58% 36.76%
NET CHANGE
Cash From Operating Activities 105.4M 277.1M
Cash From Investing Activities -16.61M -28.04M
Cash From Financing Activities -2.491M -87.15M
Net Change In Cash 86.34M 161.9M
YoY Change 6.86% 764.11%
FREE CASH FLOW
Cash From Operating Activities $105.4M $277.1M
Capital Expenditures $16.61M $28.04M
Free Cash Flow $88.83M $249.0M
YoY Change -41.86% 202.0%

Facts In Submission

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<p style="margin-top:9pt;margin-bottom:0pt;text-indent:6.54%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company reports its results of operations on a 52- or 53-week fiscal calendar ending on the Sunday closest to December 31. The fiscal year ending January 2, 2022 (“fiscal year 2021”) is a 52-week year and fiscal year 2020 was a 53-week year. The Company reports its results of operations on a 13-week quarter, except for 53-week fiscal years.</p>
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DerivativeTermOfContractMaturityStartingYear
2021
CY2021Q2 sfm Derivative Term Of Contract Maturity Ending Year
DerivativeTermOfContractMaturityEndingYear
2022
CY2021Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1575447000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1646539000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3613000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2400000
CY2021Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
623000
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
558000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2990000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1842000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
314000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
470000
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1304000
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1093000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
33642000
CY2021Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
900000
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0.0

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