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Oct 29, 2022
UNFI Q1 2023 Earnings Report
Reported an increase in net sales, driven by inflation and new business, with a decrease in net income and EPS, but an increase in adjusted EBITDA and adjusted EPS.
Key Takeaways
United Natural Foods, Inc. reported a 7.6% increase in net sales to $7.5 billion, driven by inflation and new business. Net income decreased by 13.2% to $66 million, and EPS decreased by 14.4% to $1.07. Adjusted EBITDA increased by 3.5% to $207 million, and adjusted EPS increased by 2.7% to $1.13.
Net sales increased 7.6% to $7.5 billion, driven by inflation and new business.
Gross profit increased 5.2% to nearly $1.1 billion.
Net income decreased 13.2% to $66 million, with EPS decreasing 14.4% to $1.07.
Adjusted EBITDA increased 3.5% to $207 million, and adjusted EPS increased 2.7% to $1.13.
UNFI
UNFI
Forward Guidance
The Company is reaffirming its full-year outlook for fiscal 2023.
Positive Outlook
- Net sales between $29.8 billion and $30.4 billion.
- Net income between $247 million and $266 million.
- EPS between $3.95 and $4.25.
- Adjusted EPS between $4.85 and $5.15.
- Adjusted EBITDA between $850 million and $880 million.