Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q3 2022 Earnings Conference Call November 8, 2022 5:00 PM ET

Company Participants

Susannah Livingston - VP, IR and Treasury

Jack Sinclair - CEO

Chip Molloy - CFO

Conference Call Participants

Michael Lasser - UBS

Ken Goldman - JPMorgan

Rupesh Parikh - Oppenheimer

Chuck Cerankosky - Northcoast Research

Spencer Hanus - Wolfe Research

Robert Moskow - Credit Suisse

Edward Kelly - Wells Fargo

Kelly Bania - BMO

Kendall Toscano - Bank of America

Scott Mushkin - R5 Capital

Krisztina Katai - Deutsche Bank

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Sprouts Farmers Market Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Susannah Livingston. You may begin.

Susannah Livingston

Thank you, and good afternoon, everyone. We are pleased you have taken the time to join Sprouts on our third quarter 2022 Earnings Call. Jack Sinclair, Chief Executive Officer; and Chip Molloy, Chief Financial Officer are with me today.

The earnings release announcing our third quarter 2022 results, the webcast of this call, and quarterly slides can be accessed through the Investor Relations section of our website at investors.sprouts.com.

During this call, management may make certain forward-looking statements, including statements regarding our expectations for 2022 and beyond. These statements involve several risks and uncertainties that could cause results to differ materially from those described in the forward-looking statements.

For more information, please refer to the risk factors discussed in our SEC filings and the commentary on forward-looking statements at the end of our earnings release. Our remarks today include references to non-GAAP measures. Please see the tables in our earnings release to reconcile our non-GAAP measures to the comparable GAAP figures.

With that, let me hand it over to Jack.

Jack Sinclair

Thanks Susannah and thanks to everyone for joining us today. Despite many of the current challenges in the consumer landscape, we're encouraged by our performance in the third quarter, which included total sales growth of 5%, comparable store sales of 2.4% and earnings per share growth of 9%.

I want to thank our 31,000 team members for their continued dedication and commitment to making Sprouts the ultimate destination for discovering healthy eating and wellness options.

Our customers count on us to be a leader in innovative, high-quality and healthy products in a unique and inviting shopping experience. I would also like to highlight the efforts of our operations, supply chain and human resource teams in supporting our Florida stores and the communities they serve during and after Hurricane Ian.