Why United Natural Foods Stock Is Making New 52-Week Highs Today

United Natural Foods Inc UNFI is trading significantly higher Tuesday after the company reported better-than-expected fiscal fourth quarter earnings results and issued guidance above estimates.

United Natural Foods reported adjusted quarterly earnings of $1.18 per share, which beat the estimate of 80 cents per share. The company reported quarterly revenue of $6.7 billion, which came in below the estimate of $6.85 billion. 

United Natural Foods expects fiscal 2022 earnings to be in a range of $3.90 per share to $4.20 per share versus the estimate of $3.38 per share. The company expects fiscal 2022 revenue to be in a range of $27.8 billion to $28.3 billion versus the estimate of $27.81 billion.

“After less than two months on the job, I have been impressed with the passion and commitment of our associates in helping our customers navigate today’s challenging operating environment," said Sandy Douglas, CEO of United Natural Foods.

United Natural Foods is a wholesale distributor of natural, organic and specialty foods and nonfood products across North America.

UNFI Price Action: United Natural Foods is making new 52-week highs in trading today.

The stock was up 20.60% at $45.79 at time of publication.

Photo: congerdesign from Pixabay.