United Natural Foods, Inc. (NASDAQ:UNFI) delivered a profit and beat Wall Street’s expectations. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
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United Natural Foods, Inc. Earnings Cheat Sheet
Results: Net income increased 50.4% to $22.8 million ($46 per diluted share) in the quarter versus a net gain of $15.16 million in the year-earlier quarter.
Revenue: Increased to $1.41 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: United Natural Foods, Inc. reported adjusted net income of $o.46 per share. By that measure, the company was in line with the mean analyst estimate of $0.46. It beat the average revenue estimate of $1.39 billion.
Quoting Management: “Despite moderated inflation and higher than anticipated product shortages, strong consumer demand continued to drive steady growth for our products and services during the quarter,” said Steven Spinner, President and Chief Executive Officer. “We anticipate growth for the holiday season should remain strong as consumers continue to move towards a healthier lifestyle…We are currently in the process of integrating our recent acquisitions into our existing operations, and expect all integration tasks to be completed by the end of our third quarter of fiscal 2013.”
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.51 to a profit $0.5o. For the current year, the average estimate has moved down from a profit of $2.25 to a profit of $2.22 over the last ninety days.
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(Company fundamentals provided by Xignite Financials.)