United Natural Foods Stock Gains As Q1 Earnings Beat Estimates; Affirms FY22 Outlook

United Natural Foods Inc UNFI reported first-quarter FY22 sales growth of 4.7% year-on-year, to $6.99 billion, beating the analyst consensus of $6.80 billion.
The gross margin in the first quarter was 14.89% versus 14.51% last year.
The operating margin was 1.5%, and operating income for the quarter jumped 114% to $107 million.
Adjusted EBITDA of $189 million rose 18.9% Y/Y.
Adjusted EPS of $0.97 beat the analyst consensus of $0.56.
The company held $46 million in cash and equivalents as of October 30, 2021.
Outlook: United Foods reaffirmed its outlook for FY22. It sees sales of $27.8 billion - $28.3 billion versus the consensus of $28.02 billion.
The company expects FY22 adjusted EPS of $3.90 - $4.20 versus the consensus of $4.09.
Price Action: UNFI shares are trading higher by 6.15% at $52.14 in premarket on the last check Wednesday.

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