United Natural Foods Stock Dives on Weak Q4 Earnings

UNFI missed Q4 EPS and revenue estimates

United Natural Foods stock was hit hard on Friday following the release of its earnings report for its fiscal fourth quarter of 2018.

United Natural Foods Stock Dives on Weak Q4 Earnings
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United Natural Foods’ (NASDAQ:UNFI) earnings report for its fiscal fourth quarter of the year includes earnings per share of 76 cents. This is an increase over its earnings per share of 72 cents from the same time last year. However, it was bad news for United Natural Foods stock by coming in below Wall Street’s earnings per share estimate of 85 cents for the quarter.

United Natural Foods also reported net income of $32.79 million for its fiscal fourth quarter of 2018. This is a drop from the company’s net income of $38.67 million reported in its fiscal fourth quarter of 2017.

Operating income reported by United Natural Foods for its fiscal fourth quarter of the year came in at $49.76 million. The company’s operating income from the same period of the year prior was $61.47 million.

During its fiscal fourth quarter of 2018, United Natural Foods reported revenue of $2.59 billion. This is an increase over its revenue of $2.34 billion reported in its fiscal fourth quarter of the previous year. However, it wasn’t good news for UNFI stock by coming in just below analysts’ revenue estimate of $2.60 billion for the period.

United Natural Foods’ results for its fiscal 2018 year includes earnings per share of $3.11 on revenue of $10.23 billion. UNFI’s own guidance for the fiscal year was earnings per share between $3.18 and $3.23 on revenue ranging from $10.23 billion to $10.28 billion.

UNFI stock was down 11% as of noon Friday and is down 31% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/09/united-natural-foods-stock-dives-on-q4-earnings/.

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