United Natural Foods Earnings: UNFI Stock Falls 4% Despite Q4 Beats

United Natural Foods (NYSE:UNFI) earnings for the food wholesale company’s fiscal fourth quarter of 2020 have UNFI stock on the move after-hours Monday. That comes after reporting adjusted earnings per share of $1.06 on revenue of $6.75 billion. For comparison, Wall Street was expecting adjusted EPS of 74 cents on revenue of $6.63 billion.

Image of vegetables in baskets at a store.

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Here’s what else is worth noting from the most recent United Natural Foods earnings report.

  • Adjusted per-share earnings are up 202.9% from the 35 cents reported in the same period of the year prior.
  • Revenue for the quarter comes in slightly higher than the $6.73 billion reported in fiscal Q4 2019.
  • Operating income of $78.99 million is a 21.1% decrease year-over-year from $95.66 million.
  • The United Natural Foods earnings report also includes a net income of $52.37 million.
  • That’s a 173.7% improvement over the company’s net income of $19.2 million reported during the same time last year.

United Natural Foods also announced that current CEO Steven Spinner is retiring and the company is searching for a replacement. Spinner said this about the change.

“In close collaboration with the Board, I decided now is the right time for the Company to transition to its next leader. As we enter the next chapter, I have great confidence in the strength of our team and the opportunities ahead and look forward to my continued service as Executive Chairman.”

United Natural Foods includes guidance for fiscal 2021 in its current earnings report. It expects adjusted EPS of $3.05 to $3.55 on revenue of $27 billion to $27.8 billion. Wall Street’s estimating adjusted EPS of $2.32 on revenue of $26.48 billion for the fiscal year.

UNFI stock was down 3.8% after markets closed on Monday but ended normal trading hours up 7.2%.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/09/united-natural-foods-earnings-move-unfi-stock/.

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