United Natural Foods Reports $68M Loss

The company's fourth-quarter revenue fell short of Wall Street forecasts.

Screen Shot 2022 12 08 At 10 17 31 Am 63920e2c51f2d

PROVIDENCE, R.I. (AP) β€” United Natural Foods Inc. on Tuesday reported a loss of $68 million in its fiscal fourth quarter.

The Rhode Island-based company said it had a loss of $1.15 per share. Losses, adjusted for non-recurring costs, were 25 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.

The organic and specialty foods distributor posted revenue of $7.42 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $7.43 billion.

For the year, the company reported profit of $24 million, or 40 cents per share. Revenue was reported as $30.27 billion.

United Natural expects full-year results to range from a loss of 88 cents per share to earnings of 38 cents per share, with revenue in the range of $30.9 million to $31.5 million.

More in Ingredients