- United Natural Foods Inc UNFI reported third-quarter FY22 sales growth of 9.2% year-on-year to $7.24 billion, beating the consensus of $7.10 billion.
- The gross margin in the third quarter was 14% versus 14.6% last year. The operating margin was 1.7%, and operating income for the quarter jumped 33.7% to $123 million.
- Adjusted EBITDA of $196 million increased 5.9% Y/Y. Adjusted EPS of $1.10 beat the analyst consensus of $0.97.
- The company held $48 million in cash and equivalents as of April 30, 2022.
- "It's apparent that our Fuel the Future strategy is working and beginning to benefit our customers," said CEO Sandy Douglas.
- Outlook: United Natural Foods sees FY22 sales of $28.8 billion - $29.1 billion (prior view $28.2 billion - $28.7 billion), against the consensus of $28.66 billion.
- It currently expects FY22 adjusted EPS of $4.65 - $4.90 (prior view $3.90 - $4.20) versus the consensus of $4.16.
- Price Action: UNFI shares closed higher by 1.01% at $44.87 on Monday.
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