UNFI Q3 2023 Earnings Report
Key Takeaways
UNFI reported a 3.7% increase in net sales to $7.5 billion for the third quarter of fiscal 2023. However, net income decreased by 89.6% to $7 million, and adjusted EPS decreased by 50.9% to $0.54. The company is lowering its full-year profitability outlook while maintaining its sales and capital expenditure outlook.
Net sales increased by 3.7% to $7.5 billion.
Net income decreased by 89.6% to $7 million; EPS decreased by 89.1% to $0.12.
Adjusted EBITDA decreased by 18.9% to $159 million.
Adjusted EPS decreased by 50.9% to $0.54.
UNFI
UNFI
Forward Guidance
The Company has updated its full year outlook. Net sales are expected to be between $30.1 - $30.5 billion. Net income is expected to be between $11 - $41 million. EPS is expected to be between $0.20 - $0.70. Adjusted EPS is expected to be between $1.80 - $2.30. Adjusted EBITDA is expected to be between $610 - $650 million. Capital expenditures are expected to be approximately $350 million.