United Natural Foods Stock Jumps On Strong FY22 Outlook

  • United Natural Foods Inc UNFI reported a fourth-quarter FY21 sales decline of 0.5% year-on-year, to $6.74 billion, missing the analyst consensus of $6.85 billion. Sales improved 7.5% on a two-year stack basis.
  • The gross margin in the fourth quarter was 14.91% versus 14.84% last year.
  • The operating margin was 0.7%, and operating income for the quarter fell 43.7% to $45 million.
  • The company held $41 million in cash and equivalents as of July 31, 2021. Net cash provided by operating activities for the year totaled $614 million.
  • Adjusted EBITDA of $201 million rose 1.5% Y/Y.
  • Adjusted EPS of $1.18 beat the analyst consensus of $0.80.
  • Outlook: United Foods sees FY22 sales of $27.8 billion - $28.3 billion versus the consensus of $27.81 billion.
  • The company expects FY22 adjusted EPS of $3.90 - $4.20 versus the consensus of $3.38.
  • Price Action: UNFI shares are trading higher by 17.2% at $44.5 on the last check Tuesday.
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