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4-Traders Homepage  >  Equities  >  Nasdaq  >  United Natural Foods Inc    UNFI

UNITED NATURAL FOODS INC (UNFI)
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United Natural Foods : Shares Up After Earnings Top Views, Lifts Guidance

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03/08/2018 | 11:21pm CEST

By Aisha Al-Muslim

United Natural Foods Inc. raised guidance for its current fiscal year as it reported second-quarter earnings and revenue rose from a year ago.

Shares rose 9% to $47.81 in after-hours trading Thursday. Shares are down 12% in the last three months.

The Providence, R.I.-based company reported a profit of $50.5 million, or 99 cents a share, up from $25.5 million, or 50 cents a share, a year earlier. Net sales jumped 11% to $2.53 billion.

Excluding a provisional one-time benefit of $21.9 million related to U.S. tax overhaul and restructuring and impairment charges, adjusted earnings per share were 71 cents, an increase of 21 cents from last year. Analysts polled by Thomson Reuters had forecast adjusted earnings of 55 cents a share on $2.45 billion in revenue.

For fiscal 2018, which ends July 28, the company raised its guidance for a second time. The company is now estimating net sales of $10.01 billion to $10.16 billion, an increase of 8% to 9.5% from fiscal 2017 levels. The company also guided adjusted earnings per share in the range of about $3.06 to $3.14 in 2018, which would be at least 20% higher than the prior year.

The company said in December that it expected to earn a per-share profit of $2.72 to $2.80 in fiscal 2018 on sales of $9.84 billion to $10 billion. The company previously projected earning a profit of $2.67 to $2.77 a share and $9.63 billion to $9.81 billion in sales.

United Natural Foods is slated to benefit from Amazon.com Inc. rollout of two-hour delivery from Whole Foods Market stores. United Natural Foods already had Amazon business for its online grocery operations before the online giant bought Whole Foods, but the company is seeking to further serve the e-commerce outlet since the acquisition.

Whole Foods accounts for about one-third of the distributor's business and has seen sales growth since Amazon bought the grocer and slashed prices over the summer.

Write to Aisha Al-Muslim at [email protected]

Stocks mentioned in the article : United Natural Foods, Inc., Amazon.com
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.88% 1750.08 Delayed Quote.47.40%
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Financials ($)
Sales 2018 10 245 M
EBIT 2018 256 M
Net income 2018 176 M
Debt 2018 366 M
Yield 2018 -
P/E ratio 2018 12,07
P/E ratio 2019 12,00
EV / Sales 2018 0,24x
EV / Sales 2019 0,22x
Capitalization 2 082 M
Chart UNITED NATURAL FOODS INC
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United Natural Foods Inc Technical Analysis Chart | UNFI | US9111631035 | 4-Traders
Technical analysis trends UNITED NATURAL FOODS INC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 47,0 $
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Steven L. Spinner Chairman, President & Chief Executive Officer
Sean F. Griffin Chief Operating Officer
Michael Paul Zechmeister Chief Financial & Accounting Officer
Eric A. Dorne Chief Administrative & Information Officer, SVP
Michael S. Funk Independent Director
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