United Natural Foods Q3 Earnings Surpass Street View, Raises FY22 Outlook

United Natural Foods Inc UNFI reported third-quarter FY22 sales growth of 9.2% year-on-year to $7.24 billion, beating the consensus of $7.10 billion.
The gross margin in the third quarter was 14% versus 14.6% last year. The operating margin was 1.7%, and operating income for the quarter jumped 33.7% to $123 million.
Adjusted EBITDA of $196 million increased 5.9% Y/Y. Adjusted EPS of $1.10 beat the analyst consensus of $0.97.
The company held $48 million in cash and equivalents as of April 30, 2022.
"It's apparent that our Fuel the Future strategy is working and beginning to benefit our customers," said CEO Sandy Douglas.
Outlook: United Natural Foods sees FY22 sales of $28.8 billion - $29.1 billion (prior view $28.2 billion - $28.7 billion), against the consensus of $28.66 billion.
It currently expects FY22 adjusted EPS of $4.65 - $4.90 (prior view $3.90 - $4.20) versus the consensus of $4.16.
Price Action: UNFI shares closed higher by 1.01% at $44.87 on Monday.

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