- United Natural Foods Inc (NYSE:UNFI) reported second-quarter FY22 sales growth of 7.5% year-on-year, to $7.4 billion, beating the consensus of $7.15 billion.
- The gross margin in the second quarter was 14.50% versus 14.42% last year. The operating margin was 1.7%, and operating income for the quarter jumped 16.8% to $125 million.
- Adjusted EBITDA of $201 million fell 2.4% Y/Y. Adjusted EPS of $1.13 missed the analyst consensus of $1.14.
- The company held $45 million in cash and equivalents as of January 29, 2022.
- "Our second-quarter sales were the highest in UNFI's history as our customers provided the products consumers sought for their winter holiday occasions," said CEO Sandy Douglas.
- Outlook: United Natural Foods raised FY22 sales guidance to $28.2 billion - $28.7 billion (prior view $27.8 billion - $28.3 billion), against the consensus of $28.23 billion.
- It reaffirmed the FY22 adjusted EPS outlook of $3.90 - $4.20 versus the consensus of $4.21.
- Price Action: UNFI shares are trading lower by 0.43% at $39.50 in premarket on the last check Wednesday.
