Stock Alert: United Natural Foods Gains 10% On Quarterly Results

(RTTNews) - Shares of food distributor United Natural Foods, Inc. (UNFI) are climbing more than 10% on the back of better-than estimated second-quarter earnings. The sock is currently trading at $7.49. It has traded in the range of $5.00- $14.44 in the last 52-weeks.

Net loss for the second quarter was $31 million or $0.57 per share, narrower than $342 million or $6.72 per share loss in the same quarter a year ago. Last year's second quarter included a $370.9 million pre-tax goodwill impairment charge as well as $17.4 million in additional restructuring, acquisition, and integration-related expenses.

Excluding items, earnings were down at $0.32 per share impacted by charges associated with three customer bankruptcies. This compares with $0.44 per share last year. On average, 8 analysts polled by Thomson Reuters were expecting earnings of $0.27.

Net Sales were $6.138 billion compared to $6.149 billion in last year's quarter. The consensus estimate was at $6.14 billion.

For the full-year, the company has updated earnings to reflect charges taken in the second quarter associated with customer bankruptcy filings.

Full-year adjusted earnings are expected to be in the range of $0.85 - $1.45. Sales outlook, however, remained flat with earlier guidance of $23.5 billion- $24.3 billion. Analysts see earnings of $1.3 per share on revenue of $24.13 billion.