PHOENIX (AP) _ Sprouts Farmers Market Inc. (SFM) on Wednesday reported second-quarter net income of $67 million.
The Phoenix-based company said it had profit of 57 cents per share. Earnings, adjusted for non-recurring costs, came to 59 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The natural and organic food retailer posted revenue of $1.64 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.61 billion.
Sprouts Farmers shares have climbed 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.15, a climb of 58% in the last 12 months.