United Natural Foods Slashes FY23 Earnings Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Wednesday, United Natural Foods, Inc. (UNFI) slashed its earnings and adjusted earnings guidance for the full-year 2023, while raising annual net sales outlook.

For fiscal 2023, the company now projects earnings in the range of $1.50 to $2.35 per share and adjusted earnings in the range of $3.05 to $3.90 per share on net sales between $30.1 billion and $30.5 billion.

Previously, the company expected earnings in the range of $3.95 to $4.25 per share and adjusted earnings in the range of $4.85 to $5.15 per share on net sales between $29.8 billion and $30.4 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.00 per share on net sales of $30.22 billion for the year. Analysts' estimates typically exclude special items.

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