Whole Foods Market Inc. (Nasdaq: WFMI) is scheduled to report second quarter financial results on May 4, 2011. Whole Food Market is a leading natural and organic food retailer. In fiscal year 2010, the company had sales of more than $9 billion and currently has more than 300 stores in the United States, Canada and the United Kingdom. U.S. sales represented 97 percent of revenue during FY 2010. In the last four quarters, the company's reported EPS exceeded analysts' consensus estimates by margins of 11.30 percent to 12.50 percent.
In Q1 FY 2011:
- Revenue increased 14 percent to $3 billion, from $2.6 billion in the first quarter FY 2010.
- Comparable and identical store sales increased 9.1 percent, or 12.6 percent and 11.6 percent on a two-year stacked basis.
- EBITDA for the quarter increased 26 percent to $234.3 million.
- Net income for the quarter was $88.7 million, up 60 percent, compared with net income of $55.1 million in the same quarter last year.
- EPS was $0.51 per diluted share, representing an increase of 60 percent compared with EPS of $0.32 per share in the first quarter FY 2010.
For FY 2010, the company reported revenues of $9 billion, an increase of 12.5 percent, from revenue of $8 billion reported in FY 2009. Net income for the year was $240 million, or $1.43 per diluted share, compared with net income of $118 million, or $0.85 per diluted share, in the prior year.
Updated FY 2011 Outlook,
- The company expects sales to grow in the range of 10.7 percent to 12.8 percent, compared with a previous estimate of 10 percent to 12 percent.
- Comparable store sales are expected to grow in the rage of 7.2 percent to 9.2 percent, up from earlier outlook of 5.5 percent to 7.5 percent.
- EBITDA is now expected to be in the range of $800 million to $815 million.
- EPS is expected to be in the range of $1.76 per share to $1.80 per share, compared with previous estimates of $1.66 per share to $1.71 per share.
For the second quarter, analysts' EPS estimates range from a low of $0.40 to a high of $0.51 per share, compared with a consensus estimate of $0.39 per share to $0.46 per share in the year ago quarter. For this quarter, analysts' revenue estimates range from a low of $2.30 billion to a high of $2.41 billion, compared with a consensus estimate of $2.11 billion to $2.37 billion in the same quarter a year ago. For the quarter ended April 10, 2011, the consensus EPS forecast has remained unchanged for the last 60 days.
WFMI is currently trading at $59.63, down 0.01 points, or 0.02 percent, on Tuesday.
