LONDON, UK / ACCESSWIRE / October 2, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on United Natural Foods, Inc. (NASDAQ: UNFI), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=UNFI, following the Company's posting of its fourth quarter and fiscal 2017 financial results on September 12, 2017. The organic and specialty foods distributor saw its net sales grow by 5.7%. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the fourth quarter ended July 29, 2017, United Natural Foods' net sales grew 5.7% to $2.34 billion from $2.21 billion in Q4 FY16. The Company's net sales were positively impacted by the acquisitions of Haddon House Food Products, Inc. and Gourmet Guru, Inc. United Natural Foods' revenue missed analysts' estimates of $2.37 billion.

United Natural Foods' net sales totaled $9.27 billion for FY17, a 9.5% increase compared to net sales of $8.47 billion in FY16.

During Q4 FY17, United Natural Foods' gross margin was 15.75%, an increase of 15 basis points from 15.60% for Q4 FY16. The increase was primarily driven by margin enhancement initiatives and fuel surcharges, partially offset by competitive pricing.

For Q4 FY17, United Natural Foods' total operating expenses increased $24.2 million to $307.1 million compared to $283.0 million in Q4 FY16. The Company's total operating expenses were 13.12% of net sales for the reported quarter, a 34-basis point increase compared to the year-ago corresponding period. United Natural Foods' total operating expenses for Q4 FY17 included approximately $2.9 million of previously disclosed restructuring costs.

United Natural Foods' operating income decreased $1.0 million to $61.5 million for Q4 FY17 compared to $62.5 million for Q4 FY16. The Company's adjusted operating income for the reported quarter increased 1.3% to $64.4 million compared to adjust operating income of $63.6 million for the year-ago same period.

For Q4 FY17, United Natural Foods' earnings before interest, tax, depreciation, and amortization (EBITDA) was $83.6 million, an increase of 1.3% from $82.5 million in Q4 FY16. The Company's adjusted EBITDA was $86.5 million, an increase of 3.5%, for the reported quarter from $83.6 million for the year-ago corresponding period.

During Q4 FY17, United Natural Foods' net income jumped 12.1%, or $4.2 million, to $38.9 million, or $0.76 per diluted share, from $34.7 million, or $0.69 per diluted share, for Q4 FY16. In the reported quarter, the Company recorded a gain of $6.1 million, before tax, related to the sale of its stake in Kicking Horse Coffee. United Natural Foods' adjusted earnings per diluted share for the reported quarter was $0.72 compared to $0.70 for the year-earlier quarter. The Company's earnings surpassed Wall Street's estimates of $0.69 per share.

For FY17, United Natural Foods' net income gained 3.5% to $130.2 million, or $2.56 per diluted share, from $125.8 million, or $2.50 per diluted share, for FY16. The Company's adjusted earnings per diluted share were $2.57 compared to $2.59 in the year-ago same period.

Cash Matters

During Q4 FY17, United Natural Foods' cash flow from operations was $117.7 million and capital expenditures were $16.1 million, resulting in free cash flow of $101.6 million compared to cash flow from operations of $91.0 million and capital expenditures were $12.3 million, resulting in free cash flow of $78.7 million for Q4 FY16.

Fiscal 2018 Guidance

For fiscal 2018, ending July 28, 2018, United Natural Foods is forecasting net sales in the range of approximately $9.63 billion to $9.81 billion, an increase of 3.8% to 5.8% on a y-o-y basis.

The Company estimates earnings per diluted share for FY18 in the range of approximately $2.67 to $2.77 and capital expenditures for FY18 are expected to be 0.6% to 0.7%. Effective Q1 FY18, United Natural Foods announced that it is adopting Accounting Standard Update (ASU) 2016-09, Improvement to Employee Share-Based Payment Accounting. The adoption will affect the Company's effective tax rate and increase its variability.

Stock Performance

On Friday, September 29, 2017, the stock closed the trading session at $41.59, marginally declining 0.07% from its previous closing price of $41.62. A total volume of 1.11 million shares have exchanged hands, which was higher than the 3-month average volume of 808.67 thousand shares. United Natural Foods' stock price surged 21.89% in the last one month, 13.32% in the past three months, and 6.07% in the previous twelve months. The stock is trading at a PE ratio of 16.23. At Friday's closing price, the stock's net capitalization stands at $2.11 billion.

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