UNFI Q1 net sales up 7.6% to $7.5B; net income down 13.2%; reaffirms FY guidance

UNITED NATURAL FOODS INC

2023-Q1 EPS reported $1.07 revenue$7,532,000,000

Net sales $7.5B (+7.6% YoY); net income $66M (-13.2%); diluted EPS $1.07 (-14.4%).
Adjusted EBITDA $207M (+3.5%); adjusted EPS $1.13 (+2.7%).
Reaffirmed full-year fiscal 2023 guidance.
Entered commercial agreement for warehouse automation; reduced net debt by $253M via A/R monetization.
Independent retailers sales up 11.3%; Supernatural segment up 9.8%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNITED NATURAL FOODS INC reported first quarter of fiscal 2023 ended October 29, 2022 results: revenue $7.5 billion, net income $66 million, EPS $1.07. Guidance reaffirmed.

Period: first quarter of fiscal 2023 ended October 29, 2022
Revenue: $7.5 billion
Net income: $66 million
EPS: $1.07
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the first quarter of fiscal 2023 (13 weeks) ended October 29, 2022. First Quarter Fiscal 2023 Highlights (comparisons to first quarter fiscal 2022) • Net sales increased 7.6% to $7.5 billion, primarily driven by inflation and new business • Gross profit increased $54 million, or 5.2%, to nearly $1.1 billion; prior to LIFO, gross profit increased 6.1% • Net income

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Source: SEC EDGAR

accession 0001020859-22-000132

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