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Aug 01, 2020
UNFI Q4 2020 Earnings Report
UNFI reported record fourth quarter and strong full year fiscal 2020 results.
Key Takeaways
UNFI's Q4 2020 net sales increased by 0.4% to $6.75 billion, and net income increased by 173.7% to $52 million. Adjusted EPS increased 202.9% to $1.06. The company's supply chain network and customer demand drove the positive results.
Net sales increased 0.4% to $6.75 billion, an 8.0% increase on a comparable basis.
Net income increased 173.7% to $52 million, a 207.1% increase on a comparable basis.
Adjusted EBITDA increased 19.3% to $198 million, a 27.9% increase on a comparable basis.
Adjusted EPS increased 202.9% to $1.06, a 205.2% increase on a comparable basis
UNFI
UNFI
Forward Guidance
The Company provided the following outlook for fiscal 2021, assuming elevated food-at-home consumption.
Positive Outlook
- Net Sales: $27.0 - $27.8 billion
- Net Income: $154 - $183 million
- Earnings Per Diluted Share (EPS): $2.55 - $3.05
- Adjusted EPS: $3.05 - $3.55
- Adjusted EBITDA: $690 - $730 million
Challenges Ahead
- This outlook is forward-looking and subject to risks.
- The outlook assumes that food-at-home consumption remains elevated.
- Sales growth will be more pronounced in the first half of fiscal 2021.
- Capital Expenditures: $200 - $250 million
- Many risks are outside of management's control.