UNFI Q4 2023 Earnings Report
Key Takeaways
UNFI reported a 2.0% increase in net sales to $7.4 billion for Q4 2023. However, the company experienced a net loss of $68 million, with a loss per diluted share of $(1.15). Adjusted EBITDA decreased by 56.3% to $93 million, and adjusted EPS decreased to $(0.25). The company is focused on addressing near-term profitability while creating a more efficient technology-enabled food retail services company.
Net sales increased by 2.0% to $7.4 billion.
Net loss was $68 million, with a loss per diluted share (EPS) of $(1.15).
Adjusted EBITDA decreased by 56.3% to $93 million.
Adjusted EPS decreased to $(0.25).
UNFI
UNFI
Forward Guidance
The Company is providing the following outlook for fiscal 2024, a 53-week year. This outlook reflects lower levels of anticipated procurement gains, driven by moderating levels of inflation, as well as the restoration of performance-based incentive cash compensation in fiscal 2024.