Plus   Neg

United Natural Foods Guides FY20 Above Analysts' Estimates - Quick Facts

While reporting financial results for the third quarter on Wednesday, United Natural Foods, Inc. (UNFI) provided new adjusted earnings and net sales guidance for the full year 2020, above analysts' estimates. The company had withdrawn its prior fiscal 2020 full year guidance on May 12, based on the strength of its fiscal 2020 year-to-date financial performance.

The Company's new guidance reflects the impact of moving Cub Foods and certain Shoppers Food Warehouse stores into continuing operations, consistent with how it expects to report its fourth quarter and full-year 2020 results.

The Company now expects to continue to operate its Cub Foods banner and certain of its Shoppers Food Warehouse stores for up to 24 months.

For fiscal 2020, the company now projects a loss the range of $5.85 to $5.65 per share and adjusted earnings in the range of $2.30 to $2.50 per share on net sales between $26.4 billion and $26.6 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.16 per share on net sales of $25.16 billion for the year. Analysts' estimates typically exclude special items.

"We expect elevated consumer demand for our wide variety of natural, conventional and fresh perimeter products, along with our ongoing synergy and integration initiatives, to result in a strong finish to the fiscal year," said Steven Spinner, Chairman and CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Moderna said Tuesday that it has reached an agreement with the U.S. to initially supply 100 million doses of its experimental vaccine for COVID-19, mRNA-1273. The U.S. government has awarded up to $1.525 billion for the vaccine. Las Vegas, Nevada-based Mr. Wok Foods has recalled about 200,000 pounds of meat and poultry products for misbranding and undeclared allergens, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The recalled products may contain known allergens such as milk, wheat, soy, peanuts, or oysters. They may also contain MSG, sesame products, or sulfites. The U.S. Food and Drug Administration approved the first oral drug to treat patients two months of age and older with spinal muscular atrophy (SMA) that can be taken at home. Roche subsidiary Genentech's Evrysdi (risdiplam) is also the second FDA-approved drug to treat this rare and often fatal genetic disease affecting muscle strength and movement.
Follow RTT