United Natural Foods Beats Q1 Estimates

United Natural Foods, Inc. UNFI reported financial results Thursday for the first quarter of fiscal 2015 ended November 1, 2014.

Net sales increased 24.4 percent to $1.99 billion, above estimates of $1.96 billion and the $1.60 billion reported for the same period last fiscal year

Diluted EPS increased 17.9 percent to $0.66, above estimates of $0.63, for the first quarter of fiscal 2015, compared to $0.56 for the same period last fiscal year

Operating income increased 21.6 percent to $58.4 million for the first quarter of fiscal 2015 compared to $48.0 million for the same period last fiscal year


“UNFI achieved record sales of almost $2 billion during our first quarter of fiscal 2015 and comparable sales growth recovered nicely after experiencing a modest slowdown during the first few weeks of the quarter,” said Steven Spinner, President and Chief Executive Officer.

UNFI is reaffirmed its previous guidance for fiscal 2015 provided on September 17, 2014. For fiscal 2015, ending August 1, 2015, the Company expected net sales in the range of approximately $8.13 to $8.38 billion, an increase of approximately 19.7 percent to 23.7 percent over fiscal 2014. The Company estimates GAAP earnings per diluted share for fiscal 2015 in the range of approximately $2.88 to $3.01 per share, an increase of approximately 14.3 percent to 19.4 percent over fiscal 2014 GAAP earnings per diluted share of $2.52.

United Natural Foods, Inc. traded at $76.12 in the pre-market, up 0.04 percent.