NEW YORK, NY / ACCESSWIRE / June 8, 2018 / Despite beating on both the top and bottom line in its third quarter report, shares of United Natural Foods plummeted over 14% yesterday. Shares of J.M. Smucker Company also saw a loss in its stock price after a dismal full-year profit forecast and fourth quarter results that didn't hit analysts' expectations.

RDI Initiates Coverage on:

United Natural Foods, Inc.
https://rdinvesting.com/news/?ticker=UNFI

The J. M. Smucker Company
https://rdinvesting.com/news/?ticker=SJM

United Natural Foods, Inc. shares closed down 14.29% yesterday on about 3.9 million shares traded. The loss came despite the company beating on both the top and bottom line in its latest quarterly report. For the fiscal third quarter, the company reported earnings of $51.9 million. Adjusted earnings were $1.04 a share. Analysts had been expecting earnings of just 93 cents a share. Revenue of $2.65 billion was also higher than the $2.58 billion that analysts expected. Looking ahead the company said it expects full-year earnings ranging from $3.18 to $3.23 per share and revenue in the range of $10.23 billion and $10.28 billion. CEO Steven L. Spinner said during the earnings call, "We continue to see strong top-line growth across all customer channels. These results demonstrate that demand for better-for-you products and for UNFI services continues to be strong. It's important to note that we are maintaining this growth, which does not include benefit from acquisitions despite low inflationary environment. This quarter, our gross margin of 15.4% was positively impacted by a change in our estimate, which Mike will provide more details on during his remarks. The decline in our gross margin from the prior year was primarily driven by customer mix and an increase in inbound freight expense."

Access RDI's United Natural Foods, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=UNFI

The J. M. Smucker Company shares closed down 5.37% on roughly 6.7 million shares traded. The stock dropped as much as 9% yesterday after the packaged food company released fourth quarter results that disappointed. The company also released a weak full-year profit forecast that did not rest well with traders. Shares hit levels not seen since October of 2014 yesterday. According to the company it was "industry-wide headwinds" that affected the report. For the fourth quarter, earnings per share was reported as $1.93. Analysts had been expecting $2.18 a share. It hasn't helped that Canada has announced potential revenge tariffs against the U.S. which include jam, one of the company's biggest products. Looking ahead, J.M. Smucker Company is expecting full-year earnings per share in the range of $8.40 to $8.65. Analysts had expected $9.22. Shares are down roughly 19% this year.

Access RDI's The J. M. Smucker Company Research Report at:
https://rdinvesting.com/news/?ticker=SJM

Our Actionable Research on United Natural Foods, Inc. (NASDAQ: UNFI) and The J. M. Smucker Company (NYSE: SJM) can be downloaded free of charge at Research Driven Investing.

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