United Natural Foods Boosts FY24 Bottom Line Outlook, But Trims Net Sales - Update

(RTTNews) - While reporting financial results for the second quarter on Wednesday, United Natural Foods, Inc. (UNFI) raised its bottom line results guidance for the full-year 2024, while trimming annual net sales outlook.

For fiscal 2024, the company now projects a loss in a range of $1.70 to $1.08 per share and adjusted results between a loss of $0.56 per share and earnings of $0.06 per share. Previously, the company expected a loss in the range of $2.02 to $0.76 per share and adjusted results between a loss of $0.88 per share and earnings of $0.38 per share.

However, the company trimmed its net sales outlook between $30.5 billion and $31.0 billion from the prior guidance between $30.9 billion and $31.5 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.04 per share on net sales of $31.01 billion for the year. Analysts' estimates typically exclude special items.

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