UNFI Q3 net income plunges 89.6% to $7M; cuts FY2023 adjusted EBITDA outlook

UNITED NATURAL FOODS INC

2023-Q3 EPS reported $1.51 revenue$22,855,000,000

Net sales up 3.7% to $7.5B, net income down 89.6% to $7M ($0.12 EPS) vs $1.10 prior year.
Adjusted EBITDA fell 18.9% to $159M; adjusted EPS down 50.9% to $0.54.
Lowering FY2023 adjusted EBITDA and EPS outlook; maintaining sales and capex guidance.
Implementing over $100M annualized near-term cost actions; cites lower procurement gains and higher shrink.
Supernatural channel sales up 12.2% to $1.647B; retail sales down 0.7%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNITED NATURAL FOODS INC reported third quarter of fiscal 2023 (13 weeks) ended April 29, 2023 results: revenue $7.5 billion, net income $7 million, EPS $0.12. Guidance lowered.

Period: third quarter of fiscal 2023 (13 weeks) ended April 29, 2023
Revenue: $7.5 billion
Net income: $7 million
EPS: $0.12
Guidance: lowered
Result: reported results

Exact text from the filing

the third quarter of fiscal 2023 (13 weeks) ended April 29, 2023. Third Quarter Fiscal 2023 Highlights (comparisons to third quarter fiscal 2022) • Net sales increased 3.7% to $7.5 billion • Gross profit decreased $12 million, or 1.2%, to $1.0 billion; prior to LIFO charge, gross profit declined 4.7% • Net income decreased 89.6% to $7 million; Earnings per diluted

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Source: SEC EDGAR

accession 0001020859-23-000029

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