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United Natural Foods Q2 Earnings Beat

United Natural Foods (NASDAQ: UNFI) reported second-quarter earnings of 32 cents per share on Wednesday, which beat the analyst consensus estimate of 27 cents by 18.52%. This is a 27.27% decrease over earnings of 44 cents per share from the same period last ye

Benzinga · 03/11/2020 11:48

United Natural Foods (NASDAQ: UNFI) reported second-quarter earnings of 32 cents per share on Wednesday, which beat the analyst consensus estimate of 27 cents by 18.52%. This is a 27.27% decrease over earnings of 44 cents per share from the same period last year.

The company reported quarterly sales of $6.138 billion, which missed the analyst consensus estimate of $6.14 billion This is a 0.18% decrease over sales of $6.149 billion the same period last year.

United Natural Foods sees fiscal year 2020 adjusted EPS at 85 cents to $1.45 versus the $1.30 estimate and sales of $23.5-$24.3 billion versus the $24.13 billion estimate.

"Despite considerable industry headwinds, I'm encouraged by our underlying performance and the momentum that is building within our business,” said Steven Spinner, CEO of United Natural Foods. “Prior to charges associated with the three customer bankruptcies that impacted the quarter, we grew Adjusted EBITDA by low double digits, and we remain optimistic as we move into the second half of our fiscal year and confident in UNFI's long-term growth prospects."

United Natural Foods shares were trading up 1.47% at $6.88 in Wednesday’s pre-market session. The stock has a 52-week high of $14.73 and a 52-week low of $5.