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The natural food supplier delivered a better-than-expected earnings report.
United Natural Foods (UNFI) shares soared 25% Tuesday afternoon as the grocery wholesaler posted a surprising adjusted profit on increased volumes and prices as sales surged from its biggest customer, Amazon (AMZN)-owned Whole Foods Market.
United Natural Foods, Inc. (NYSE:UNFI ) Q4 2024 Earnings Call Transcript October 1, 2024 8:30 AM ET Company Participants Steve Bloomquist - VP of IR Sandy Douglas - CEO Matteo Tarditi - President and CFO Conference Call Participants John Heinbockel - Guggenheim Leah Jordan - Goldman Sachs Mark Carden - UBS Edward Kelly - Wells Fargo Andrew Wolf - CL King Kelly Bania - BMO Capital Markets Chuck Cerankosky - Northcoast Research Operator Hello, and welcome to the UNFI Fiscal 2024 Q4 Earnings Call. All lines have been placed on mute to prevent any background noise.
Company sales rise 10%, beating analyst estimates
United Natural Foods (UNFI) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.08 per share. This compares to loss of $0.25 per share a year ago.
PROVIDENCE, R.I.--(BUSINESS WIRE)--United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or “UNFI”) today reported financial results for the fourth quarter (14 weeks) and fiscal year (53 weeks) ended August 3, 2024. Fourth Quarter Fiscal 2024 Performance (comparisons to fourth quarter fiscal 2023) Net sales increased 10.0% to $8.2 billion; grew 2.1% on a comparable 13-week basis Net loss of $37 million; Loss per diluted share (EPS) of $(0.63) Adjusted EBITDA(1) increased 53.8% to $143 million,.
UNFI benefits from supply-chain improvements and a decline in inflation. However, ongoing consumer spending shifts might pose a risk to it's Q4 performance.
VANCOUVER, BC / ACCESSWIRE / September 13, 2024 / bettermoo(d) Food Corporation (CSE:MOOO)(OTCQB:MOOOF)(Frankfurt:0I5A)(WKN:A3D8PP) (the "Company" or "bettermoo(d)") is pleased to announce it has received initial purchase orders for its newly launched Moodrink™ Barista Edition ( Moodrink Barista™ ) from United Natural Foods Canada, ("UNFI Canada" or the "Distribution Partner"), the largest publicly traded wholesale distributor in North America delivering healthier food options to people throughout the United States and Canada[1], and an established coffee shop distributor (the "West Coast Coffee ShopDistributor"), serving the West Coast of Canada for over 16 years. Both distributors placed initial order soon after the product's official launch in late August, which management believes reflects the strong demand and enthusiasm for bettermoo(d)'s innovative plant-based Moodrink Barista™.
UNFI is transforming its operations and investing in technology to improve margins but faces ongoing challenges with retail performance.
United Natural (UNFI) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.