United Natural Foods Stock Price, News & Analysis

United Natural Foods (NYSE: UNFI) reported its financial results for Q3 FY2024. Net sales decreased by 0.1% to $7.5 billion while net loss was $21 million, translating to an EPS loss of $0.34. Adjusted EBITDA fell by 18.2% to $130 million and adjusted EPS dropped to $0.10. Despite these declines, UNFI noted improved financial performance driven by disciplined expense management and supply chain efficiencies. The company extended its term loan maturity to May 2031 and continues to refine its multi-year strategic plan to start in FY2025. Free cash flow for the quarter was $49 million, down from $65 million in Q3 FY2023. UNFI revised its FY2024 outlook, lowering expectations for net income and EPS but raising midpoints for adjusted EBITDA and adjusted EPS.

United Natural Foods (NYSE: UNFI) has launched the UNFI Media Network™ (UMN), in partnership with Swiftly, aimed at independent and regional grocery retailers in the U.S. The network will leverage Swiftly's advanced retail technology to connect over 30,000 retail customer locations and 11,000 brand partners with consumers through personalized promotions. This initiative aims to enhance the digital competitiveness of UNFI’s retail customers and create new marketing opportunities for suppliers. UNFI CEO Sandy Douglas emphasized the network’s potential to generate sustainable value for customers, suppliers, and shareholders. Swiftly CEO Henry Kim highlighted the platform’s capacity to transform businesses and engage millions of consumers nationwide.

United Natural Foods (NYSE: UNFI) will announce its fiscal 2024 third quarter results on June 5, 2024. The quarter ended on April 27, 2024. Management will discuss the results during a conference call at 8:30 a.m. ET the same day. Investors can join the call via a toll-free number or access the audio webcast on the company's website. The webcast will be archived online for 120 days.

United Natural Foods has extended its distribution partnership with Whole Foods Market until May 2032. This agreement solidifies UNFI as the primary distributor for Whole Foods, replacing the prior agreement that was set to expire in September 2027. David Matthews, President of National Sales for UNFI, highlighted the commitment to providing quality foods and supporting Whole Foods' growth. David Garraway, VP Supply Chain for Whole Foods, emphasized the importance of UNFI in their supply chain as they continue to expand.