United Natural Foods Stock Jumps 15% On Quarterly Results

Shares of United Natural Foods, Inc. (UNFI) jumped over 15% on Wednesday morning after the food wholesaler's first-quarter results trumped Street view.

UNFI is currently trading at $56.92, up $7.80 or 15.88%, on the NYSE. In the past 52 weeks, the stock has traded between $14.55 and $57.89.

The company reported first-quarter net income of $76 million or $1.25 per share, compared to net loss of $1 million or $0.02 per share last year. Adjusted earnings were $0.97, up from $0.51 per share last year. First-quarter net sales rose 4.7% to $7.0 billion from $6.7 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.56 per share on revenues of $6.8 billion.

United Natural Foods affirmed its earnings, adjusted earnings and sales guidance for the full-year 2021.

For fiscal 2022, the company continues to project earnings of $3.60 to $3.90 per share and adjusted earnings of $3.90 to $4.20 per share on net sales between $27.8 billion and $28.3 billion.

Analysts currently estimate earnings of $4.09 per share on net sales of $28.02 billion for the year.

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