United Natural Foods Inc

Latest Results (07.08.2024):

Net Sales

United Natural Foods Inc's net sales for the third quarter of fiscal 2024 were $7.5 billion, a slight decrease of 0.1% compared to the same period in fiscal 2023. This decline was primarily driven by a reduction in unit volumes, which was largely offset by inflation and new business with existing customers.

Net Loss

For the third quarter of fiscal 2024, United Natural Foods Inc reported a net loss of $21 million. This is a significant change from the net income of $7 million reported in the third quarter of fiscal 2023. The net loss per diluted share was $(0.34), compared to net income per diluted share of $0.12 in the same period last year.

Adjusted EBITDA

United Natural Foods Inc's adjusted EBITDA for the third quarter of fiscal 2024 was $130 million, a decrease of 18.2% from $159 million in the third quarter of fiscal 2023. This decline includes $33 million in higher incentive compensation expenses.

Operating Expenses

Operating expenses for United Natural Foods Inc in the third quarter of fiscal 2024 were $992 million, or 13.2% of net sales. This represents an increase from $967 million, or 12.9% of net sales, in the third quarter of fiscal 2023. The increase was primarily driven by higher incentive compensation expenses, partially offset by lower transportation costs and other operational efficiencies.

Fiscal 2024 Outlook

United Natural Foods Inc has updated its full-year outlook for fiscal 2024, lowering expectations for net income and EPS due to charges related to cost reduction actions. However, the company has raised the midpoints for adjusted EBITDA and adjusted EPS, while reducing capital and cloud implementation expenditures.