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May 02, 2020
UNFI Q3 2020 Earnings Report
Reported financial results with net sales increase and earnings per diluted share.
Key Takeaways
UNFI reported a strong third quarter with a 12% increase in net sales, a 54% increase in net income, and a 43% increase in earnings per diluted share, driven by strong customer demand related to the COVID-19 pandemic.
Net Sales increased 12% to $6.67 billion compared to $5.96 billion in last year’s fiscal third quarter
Net income increased 54% to $88 million
Earnings per diluted share (EPS) of $1.60
Net debt reduced by $302 million compared to the second quarter of fiscal 2020
Forward Guidance
The Company now expects to continue to operate its Cub Foods banner and certain of its Shoppers Food Warehouse stores for up to 24 months. Accordingly, the Company is also presenting its guidance reflecting the impact of moving Cub Foods and certain Shoppers Food Warehouse stores into continuing operations, consistent with how it expects to report its fourth quarter and full-year 2020 results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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