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Key Food Earnings for May 5: JMBA, K, SFM

As Q1 earnings season continues, more and more companies are posting their earnings results. On Thursday, three big names in the food industry reported their quarterly earnings before the bell. Let’s take a look.

Jamba, Inc. JMBA

The Emeryville, California-based juice and smoothie company reported disappointing first quarter results. Adjusted for non-recurring costs, earnings per share came in at a loss of $-0.08, lagging behind the Zacks Consensus Estimate of $-0.04 per share. Revenues of $18.8 million also missed our consensus estimate of $19 million and decreased $64.3% year-over-year. Franchisees opened 16 new Jamba Juice stores globally during the quarter.

Kellogg Co. K

The world’s leading producer of cereal reported better than expected Q1 earnings thanks to robust cost savings. Adjusted earnings per share of $0.97 beat the Zacks Consensus Estimate of $0.93 by 4.3%. Revenues came in at $3.40 billion, missing our consensus estimate of $3.49 billion and decreasing 4.5% year-over-year. Significant currency headwinds from the re-measurement of the Venezuelan business in mid-2015 resulted in the underperformance.

Sprouts Farmers Markets, LLC SFM

Based in Phoenix, Arizona, the organic grocer reported first quarter earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.29 per share. Revenues came in at $993 million, missing our consensus estimate $1.012 billion and increasing 15.8% year-over-year. Comparable store sales growth was 4.8% during the quarter, while net income increased 20% to $46.2 million.

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KELLOGG CO (K): Free Stock Analysis Report
 
JAMBA INC (JMBA): Free Stock Analysis Report
 
SPROUTS FMR MKT (SFM): Free Stock Analysis Report
 
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