United Natural Foods Beats Q4 Expectations

  • Reports Q4 Adjusted EPS $0.69
  • Initiates FY 2017 Guidance
  • Shares Spiked Over 8 Percent

United Natural Foods, Inc. UNFI reported Q4 adjusted EPS $0.69 versus estimates of $0.63. Sales were $2.21 billion compared with estimates of $2.22 billion. Sales increased 7.4 percent year-over-year. Gross margins were 15.6 percent, up fron 15.1 percent in Q3 2016.

Total operating expenses were 12.78 percent of net sales during the quarter, up 59 basis points compared with Q4 2015.

FY 2017 EPS guidance range is for $2.53 to $2.63 compared with estimates for $2.69. Revenues are expected to be $9.43 billion to $9.60 billion compared with estimates for $9.40 billion.

CEO Steve Spinner said, "We believe our efforts to further enhance UNFI's perishable perimeter product offerings, combined with the scale of our leading national distribution network, position us well for growth in sales and profitability over the next several years."

Shares of the natural and organic foods distributor closed Monday's regular session up $0.20 or 0.48 percent to $41.81.

The stock spiked more than 8 percent after hours, but recently traded own about 1 percent.

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Posted In: EarningsNewsGuidanceAfter-Hours CenterMovers
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