Grocery Wholesaler United Natural Foods Posts Mixed Q1 Earnings, Reaffirms FY24 Outlook
Portfolio Pulse from Lekha Gupta
United Natural Foods Inc (UNFI) reported a slight increase in Q1 FY24 sales but missed analyst expectations. The company saw a decrease in gross profit and adjusted EBITDA, while adjusted EPS beat estimates. UNFI reaffirmed its FY24 outlook, maintaining guidance for sales, adjusted EPS, adjusted EBITDA, and capital expenditure. Despite exceeding internal expectations for the quarter, shares dropped by 2.21%.
December 06, 2023 | 5:54 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
UNFI's Q1 FY24 report showed mixed results with a marginal sales increase and a beat on adjusted EPS, but a decline in gross profit and adjusted EBITDA. The company reaffirmed its FY24 outlook.
The mixed earnings report, with a sales miss and lower gross profit, is likely to concern investors, despite the EPS beat and reaffirmed outlook. The immediate negative reaction in stock price reflects these concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100