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Jan 27, 2024
UNFI Q2 2024 Earnings Report
Reported a decrease in net sales, a net loss, and a decrease in adjusted EBITDA and adjusted EPS compared to the same quarter last year.
Key Takeaways
UNFI's second quarter results reflect a focus on execution and profitability improvement, with benefits from near-term value creation initiatives and shrink management partially offsetting procurement gains reduction and distribution center start-up costs. Net sales decreased slightly, and the company experienced a net loss, alongside declines in adjusted EBITDA and EPS.
Net sales decreased 0.5% to $7.8 billion.
Net loss was $15 million, with a loss per diluted share (EPS) of $(0.25).
Adjusted EBITDA decreased 29.3% to $128 million.
Adjusted EPS decreased to $0.07.
Forward Guidance
The Company is updating its full-year outlook to reduce net sales expectations, while maintaining the midpoints and narrowing the ranges for net income, EPS, adjusted EPS, and adjusted EBITDA.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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