United Natural Foods Q4 Bottom-Line Matches Street View; Closks 8% Sales Growth

United Natural Foods Inc UNFI reported fourth-quarter FY22 sales growth of 8% year-on-year to $7.27 billion, missing the consensus of $7.34 billion.
Gross margin for the quarter was 14.5% versus 14.9% last year. The gross profit rose 4.9% to $1.1 billion.
Operating margin was 0.93%, and operating income for the quarter jumped 51% to $68 million.
Adjusted EBITDA of $213 million increased 3.4% Y/Y. Adjusted EPS of $1.27 was in-line with the analyst consensus.
Also Read: United Natural Foods Opts For Symbotic's Warehouse Automation Systems
The company held $44 million in cash and equivalents as of July 30, 2022.
On September 21, 2022, the company's Board approved a new stock repurchase program for up to $200 million of its shares over four years. This program replaces the previous program announced on October 6, 2017.
Outlook: United Natural Foods sees FY23 sales of $29.8 billion - $30.4 billion, against the consensus of $30.1 billion.
It expects FY23 adjusted EPS of $4.85 - $5.15 versus the consensus of $5.09.
Price Action: UNFI shares are trading higher by 1.69% at $39.09 on the last check Tuesday.

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