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What you need to know
- United Natural Foods stock rose to its highest level in over 18 months after the company’s first-quarter earnings exceeded estimates on Tuesday.
- It posted an unexpected adjusted profit and sales that were better than expected.
- Health foods provider also raised its projected revenue and net loss for fiscal year 2025.
United Natural Foods Inc.’s (UNFI) stock rose more than 20 percent Tuesday morning, reaching its highest level in over 18 months. The health foods provider reported a surprising adjusted profit for fiscal year 2025 first quarter.
UNFI (which supplies retailers such as Amazon’s Whole Foods Market) reported revenue of $7.87 Billion, an increase from the previous year’s $7.55 Billion and well above Visible Alpha’s consensus $7.62Billion estimate.
A net loss was reported of $0.35 for each share. This is higher than expected, at $0.19. UNFI however reported an adjusted net income per share of $0.16 when the projected adjusted loss per share was $0.04.
Sandy Douglas, CEO at Sandy Douglas Group Inc. stated that the results of this quarter are very positive. “solid start” Welcome to the New Fiscal Year and An “early proof point” The success of recent cost-cutting efforts.
UNFI Raises Fiscal 2025 Outlook
The company has also raised its revenue guidance from $30,3 billion to $ 30,8 billion. Also, the company lowered its projections for net losses and loss-per share from $40 million to $0.65.
UNFI’s shares have recently risen by 24%, to $30.60. This is a return to the levels they last reached in March 2023.
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