Supermarkets United Natural Foods made a profit in the first quarter
Wholesale supermarket food supplier United Natural Foods Inc. (UNFI) made a profit above its forecasts in a quarter of the fiscal year 2022.
A year earlier, the company suffered losses in the same quarter. United Natural Foods cooperates with more than 30,000 supermarkets in the United States and sells so-called “organic” products. In addition, the company offers a wide range of “healthy” products, including vitamins and sports nutrition.
Americans’ attention to their power and passion for a healthy lifestyle helps United Natural Foods keep sales high. In addition, requirements for food quality are growing, so customers are ready to give money for those products that they consider more beneficial for themselves. As a result, positive trends allow United Natural Foods to increase sales.
In the first quarter, United Natural Foods’ revenue reached $7 billion, an increase of 5% year-on-year, and the actual profit was $0.97 per share. Both indicators were significantly higher than Wall Street forecasts and the company’s forecasts.
When calculated following GAAP, the company’s profit in the first quarter was even more – $1.25 per share. For comparison, a year earlier, United Natural Foods made a loss of $0.02 per share in the same quarter.
United Natural Foods has confirmed its forecasts for the fiscal year 2022. The company expects GAAP earnings of $3.6 to $3.9 per share on sales in the range of $27.8 million to $28.3 billion. At the auction on December 8, the UNFI stock was worth $55.61.
