Research Desk Line-up: Smart & Final Stores Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 7, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Whole Foods Market, Inc. (NASDAQ: WFM), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=WFM, following the Company's posting of its third quarter fiscal 2017 results on July 26, 2017. The Austin, Texas-based upscale grocer's reported record sales and free cash flow for the quarter under review. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Grocery Stores industry. Pro-TD has currently selected Smart & Final Stores, Inc. (NYSE: SFS) for due-diligence and potential coverage as the Company reported on July 25, 2017, its financial results for Q2 FY17 which ended on June 18, 2017. Register for a free membership today, and be among the early birds that get access to our report on Smart & Final Stores when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on WFM; also brushing on SFS. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=WFM

http://protraderdaily.com/optin/?symbol=SFS

Earnings Reviewed

For the 12-week third quarter ended July 02, 2017, Whole Foods reported that total sales increased 0.6% to a record $3.73 billion compared to sales of $3.70 billion for Q3 FY16. The Company's comparable store sales decreased 1.9% for the reported quarter. Whole Foods' revenue numbers exceeded Wall Street's expectations of $3.72 billion.

Whole Foods' operating income was $180 million in Q3 FY17 compared to $209 million for Q3 FY16. The Company's earnings before interest, taxes, depreciation, and amortization (EBITDA) were $293 million compared to EBITDA of $326 million for the prior year's same quarter.

For Q3 FY17, Whole Foods' net income fell to $106 million, or $0.33 per share, from $120 million, or $0.37 per share, in Q3 FY16. The Company's results included charges of $14 million, or $0.03 per diluted share, related to advisory fees. Excluding these charges, diluted earnings per share were $0.36. Whole Foods' earnings surpassed Wall Street's estimates of $0.33 per share.

Year-to-Date Results

For the 40-week period ended July 02, 2017, Whole Foods' total sales increased 1.3% to $12.4 billion and comparable store sales decreased 2.4%. The Company's net income was $300 million, or 2.4% of sales, while diluted earnings per share per share totaled $0.94. Whole Foods' EBITDA was $941 million, or 7.6% of sales, and return on invested capital was 10%.

Cash Matters

For Q3 FY17, Whole Foods generated operating cash flow of $277 million, free cash flow of $145 million, and returned $44 million in dividends to shareholders, ending the reported quarter with $1.5 billion of total available capital and $1.0 billion in total debt. On a year-to date basis, the Company recorded operating cash flow of $901 million, free cash flow of $393 million, and returned $132 million in capital to shareholders through dividends and share repurchases.

Recent Merger Announcement

On June 16, 2017, Amazon.com and Whole Foods Market announced a definitive merger agreement under which Amazon.com will acquire Whole Foods for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods' net debt. In lieu of the acquisition, the Company will not be updating its outlook for fiscal 2017 or longer-term targets and did not hold a conference call to discuss the Company's financial results for Q3 FY17.

Whole Foods stated that the completion of the transaction is subject to approval by the Company's shareholders, regulatory approvals, and other customary closing conditions. The parties expect to close the transaction during H2 FY17.

Growth and Development

In Q3 FY17, Whole Foods opened six stores, including one relocation. In Q4 FY17 till the date of the earnings announcement, the Company has opened two stores and expects to open two additional Whole Foods Market stores and two Whole Foods Market 365 stores, including one relocation.

Stock Performance

On Friday, August 04, 2017, the stock closed the trading session at $41.81, marginally dropping 0.07% from its previous closing price of $41.84. A total volume of 3.48 million shares have exchanged hands. Whole Foods Market's stock price skyrocketed 13.40% in the last three months, 40.30% in the past six months, and 37.58% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 35.92%. The stock is trading at a PE ratio of 34.41 and has a dividend yield of 1.72%. At Friday's closing price, the stock's net capitalization stands at $13.37 billion.

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SOURCE: Pro-Trader Daily