United Natural Foods Posts Disappointing Quarter

The organic and specialty foods distributor reported revenue of more than $7.5 billion.

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PROVIDENCE, R.I. (AP) — United Natural Foods Inc. on Wednesday reported fiscal first-quarter earnings of $66 million.

On a per-share basis, the Providence-based company said it had net income of $1.07. Earnings, adjusted for non-recurring costs, were $1.13 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.

The organic and specialty foods distributor posted revenue of $7.53 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $7.54 billion.

United Natural expects full-year earnings in the range of $4.85 to $5.15 per share, with revenue in the range of $29.8 billion to $30.4 billion.

Shares of the company's stock were down $6.74 to $38.84 in Wednesday trading.

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