secwatch.observer — SEC 8-K summary
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Issuer:     UNITED NATURAL FOODS INC (UNFI)
CIK:        0001020859
Form:       8-K
Filed at:   2023-03-08T23:59:59+00:00
Accession:  0001020859-23-000010
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UNFI Q2 net income falls 71% to $19M; cuts FY2023 profit outlook, withdraws FY2024 targets
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- Net sales rose 5.4% to $7.8B, driven by inflation and new business; gross profit down $6M.
- Adjusted EBITDA $181M (-17.7% YoY); adjusted EPS $0.78 (-42.6% YoY); GAAP EPS $0.31.
- Raising FY2023 sales outlook but lowering profitability guidance; withdrawing FY2024 targets.
- Reduced net debt by $427M sequentially, aided by accounts receivable monetization.
- CEO cites lack of repeat procurement gains from prior-year inflation and supply chain volatility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1020859/000102085923000010/0001020859-23-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1020859/000102085923000010/unfi-20230308.htm
  HTML page:      https://secwatch.observer/filing/0001020859-23-000010

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