Whole Foods Market Beats Q1 Earnings and Revenue Estimates
Whole Foods Market WFM just released their first quarter fiscal 2016 earnings results, posting earnings of $0.46 and revenue of $4.83 billion.
Currently, WFM has a Zacks Rank #3 (Hold), 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.
1. Beat earnings estimates. The company posted $0.46 per share , surpassing our Zacks Consensus Estimate of 0.40.
2. Beat revenue estimates. The company saw revenue figures of $4.83 billion , just beating our estimate of $4.813 billion. This number reflects a positive 3.4% year-over-year basis.
3. Produced $232 million in cash flow from operations, invested $179 million in capital expenditures, returned $45 million in quarterly dividends to shareholders, and repurchased $634 million, or 21.2 million shares of common stock.
4. Walter Robb, co-chief executive officer of Whole Foods Market said that "We improved our cost structure, stepped up our value efforts, and are excited to announce today the national launch of digital coupons within our mobile app. We believe we will deliver strong returns to shareholders over the long term as we improve our price perception, better communicate our higher quality standards and differentiation, and continue to fundamentally evolve our business."
5. WFM was down a slight $0.15, or 0.52%, to $28.72 as of 4:41 PM ET in after hours trading shortly after its earnings report was released.
Here's a graph that looks at Whole Foods Market'slong-term quarterly revenue and growth rate:
Whole Foods Market is the largest purveyor of natural foods in the world. They own and operate the country's largest chain of natural food supermarkets. They are like an old-fashioned neighborhood grocery store, an organic farmer's market, a European bakery, a New York deli, and a modern supermarket all rolled into one! The Company also offers a wide variety of non-perishable natural products on its website. Whole Foods was founded in 1980 and is based in Austin, Texas.
Check back later for our full analysis on Whole Foods Market'sfourth quarter earnings report!
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