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Jan 29, 2022
UNFI Q2 2022 Earnings Report
Reported highest second quarter sales in UNFI’s history, driven by customer demand for winter holiday products and effective navigation of inflation and supply chain challenges.
Key Takeaways
United Natural Foods, Inc. reported a 7.5% increase in net sales to $7.4 billion for the second quarter of fiscal 2022. Net income increased by 11.9% to $66 million, and EPS increased by 8.0% to $1.08. The company is optimistic about the second half of the fiscal year, driven by their Fuel the Future strategy.
Net sales increased by 7.5% to $7.4 billion.
Net income increased by 11.9% to $66 million.
EPS increased by 8.0% to $1.08.
Adjusted EPS decreased by 9.6% to $1.13.
Forward Guidance
The company provided an updated full-year outlook for fiscal year 2022, reflecting continued growth in net sales from both existing and new customers, driven by inflation and unit volume growth. The outlook for net income and EPS now includes an estimated $85 million pre-tax gain on sale of assets related to the sale and subsequent leaseback of a distribution center. The outlook for adjusted EPS and adjusted EBITDA is unchanged, reflecting potential ongoing operating environment volatility and our commitment to service our customers regardless of the environment.
Positive Outlook
- Net Sales ($ in billions) $28.2 - $28.7
- Net Income ($ in millions) $285 - $306
- EPS $4.60 - $4.90
- Adjusted EPS (2)(3) $3.90 - $4.20
- Adjusted EBITDA(3) ($ in millions) $760 - $790
Historical Earnings Impact
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Avg. Return Before/After Earnings
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