Whole Foods Market (WFM) Beats Q3 Earnings, Down 1.7% On Lowered Guidance

Whole Foods Market Inc. (NASDAQ:WFM) just released its FQ3 2016 earnings results, posting earnings of $0.37 per share and revenue of $3.7 billion.

Currently, WFM has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Whole Foods:

1. Met earnings estimates. The company posted earnings of $0.37 per share, matching our Zacks Consensus Estimate.

2. Beat revenue estimates. The company saw revenue figures of $3.7 billion, beating our estimate of $3.69 billion.

3. “We delivered record sales of $3.7 billion this quarter along with a sequential improvement in our comparable store sales trends,” said Walter Robb, co-CEO of Whole Foods Market. “We are continuing to make measurable progress on fundamentally evolving our business including the successful launch of our new 365 format, expanded value investments, and increased efforts to better understand and provide personalized offers to our customers. We are seeing some encouraging signs in terms of our sales and believe our nine-point plan will produce strong returns for our shareholders over the long term.”

4. For the 40-week period ended July 3, 2016, total sales increased 2.3% to $12.2 billion. Comparable store sales decreased 2.4%. Average weekly sales per store were $695,000, translating to sales per gross square foot of approximately $935.

5. WFM was down $0.58, or 1.7%, to $33.06 as of 4:35 p.m. EDT in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Whole Foods’ latest earnings performance:

Whole Foods Market, Inc. operates natural and organic foods supermarkets. Its stores offers produce, packaged goods, bulk, frozen, dairy, meat, bakery, prepared foods, coffee, tea, beer, wine, cheese, nutritional supplements, vitamins, body care, pet foods, grocery, and household goods. As of January 28, 2016, the company had approximately 434 stores in the United States, Canada, and the United Kingdom. Whole Foods Market, Inc. was founded in 1978 and is headquartered in Austin, Texas.

Check back later for our full analysis on Whole Foods’ latest quarterly earnings report!

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