United Natural Foods Guides FY23 In Line With Estimates - Update

While reporting financial results for the fourth quarter on Tuesday, grocery wholesaler United Natural Foods, Inc. (UNFI) initiated its adjusted earnings and net sales guidance for the full-year 2023, in line with analysts' expectations.

For fiscal 2023, the company now projects earnings in the range of $3.95 to $4.25 per share and adjusted earnings in the range of $4.85 to $5.15 per share on net sales between $29.8 billion and $30.4 billion.

On average, eleven analysts polled by Thomson Reuters expect the company to report earnings of $5.09 per share on net sales of $30.11 billion for the year. Analysts' estimates typically exclude special items.

On September 21, the Company's Board of Directors approved a new stock repurchase program that authorizes the Company to repurchase up to $200 million of its shares over four years. This program replaces the Company's previous repurchase program announced on October 6, 2017.

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