United Natural Foods (UNFI) Raises Guidance

Organic food distributor United Natural Foods Inc UNFI released financial results on Wednesday morning that beat Wall Street earnings estimates and raised its full-year sales and earnings forecasts. United Natural Foods Inc reported that its fiscal 3rd quarter net income rose to $19.5 million, or 45 cents per share, up from $16.8 million, or 39 cents per share, a year earlier. United Natural Foods Inc reported that its net sales rose 10.8% to $985.7 million, up from $889.5 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 42 cents per share. The company raised its full-year sales forecast to a range of $3.68 billion to $3.72 billion, up from the previous forecast of $3.54 billion to $3.63 billion. United Natural Foods Inc also raised the lower end of its full-year earnings forecast, when it provided guidance of $1.55 to $1.58 per share, up from the previous forecast of $1.48 to $1.58 per share.