What's Going On With Grocery Wholesaler United Natural Foods Stock Wednesday?
Portfolio Pulse from Shivani Kumaresan
United Natural Foods Inc (NYSE:UNFI) shares rose by 12.4% after reporting third-quarter FY24 earnings. Despite a slight sales decline, the company showed improved gross margins and beat EPS estimates. UNFI updated its FY24 adjusted EPS guidance and expects stable profit and cash flow growth.
June 05, 2024 | 1:49 pm
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United Natural Foods Inc (NYSE:UNFI) shares rose by 12.4% after reporting third-quarter FY24 earnings. Despite a slight sales decline, the company showed improved gross margins and beat EPS estimates. UNFI updated its FY24 adjusted EPS guidance and expects stable profit and cash flow growth.
UNFI's stock price increased significantly due to better-than-expected EPS and improved gross margins, despite a slight sales decline. The updated FY24 EPS guidance and positive outlook on cash flow and profitability further boosted investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100