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Oct 30, 2021
UNFI Q1 2022 Earnings Report
Reported an increase in net sales and net income, driven by inflation and new business.
Key Takeaways
United Natural Foods, Inc. reported a 4.7% increase in net sales, a significant increase in net income, and an 18.9% increase in adjusted EBITDA for the first quarter of fiscal 2022. The company reaffirms its fiscal 2022 full-year outlook and has received credit ratings upgrades from Moody's and S&P.
Net sales increased by 4.7% to $7.0 billion.
Net income increased by $77 million to $76 million.
Adjusted EBITDA increased by 18.9% to $189 million.
Adjusted EPS increased 90.2% to $0.97.
UNFI
UNFI
Forward Guidance
The Company is reaffirming its full-year outlook for fiscal 2022.
Positive Outlook
- Net Sales ($ in billions) $27.8 - $28.3
- Net Income ($ in millions) $221 - $243
- EPS $3.60 - $3.90
- Adjusted EPS $3.90 - $4.20
- Adjusted EBITDA ($ in millions) $760 - $790