United Natural Foods Earnings: Here’s Why Investors Don’t Like These Results
United Natural Foods, Inc. (NASDAQ:UNFI) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.28%.
United Natural Foods, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.11% to $0.5 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 12.36% to $1.45 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: United Natural Foods, Inc. reported adjusted EPS income of $0.5 per share. By that measure, the company missed the mean analyst estimate of $0.5. It missed the average revenue estimate of $1.45 billion.
Quoting Management: “We were extremely focused on bringing resolution to our labor dispute in Auburn, Washington during the second quarter. By working together, we were able to reach a fair and equitable agreement. Our associates are back to work and the facility is back at full capacity,” said Steven Spinner, UNFI’s President and Chief Executive Officer. “We continue to move forward together as a Company and our results demonstrate our sustained sales growth, expense control and execution.”
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