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Feb 01, 2020
UNFI Q2 2020 Earnings Report
UNFI's financial performance remained relatively stable with slight decrease in net sales, but was impacted by customer bankruptcies.
Key Takeaways
UNFI reported a slight decrease in net sales but faced challenges due to customer bankruptcies, which impacted GAAP and adjusted results. Despite these headwinds, the company saw growth in its Supernatural channel and reduced its total outstanding net debt.
Net sales were $6.14 billion, slightly down from $6.15 billion in the previous year.
Total outstanding net debt decreased by $149 million compared to the first quarter of fiscal 2020.
Second quarter results included charges of $0.44 per diluted share related to customer bankruptcies.
Adjusted EBITDA grew by low double digits prior to charges associated with customer bankruptcies.
Forward Guidance
UNFI updated its fiscal 2020 guidance to reflect customer bankruptcy charges, while net sales guidance remains unchanged.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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