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United Natural Foods (NYSE: UNFI) Delivers Mixed Results in Q4
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United Natural Foods (NYSE: UNFI) Delivers Mixed Results in Q4

United Natural Foods (NYSE: UNFI) announced today their fiscal Q4 and FY22 results. The organic foods company generated revenues of $7.3 billion in Q4, up 8% year-over-year but still falling short of analysts’ estimate by $30 million.

The company reported an adjusted EPS of $1.27 in Q4, up 1.6% year-over-year and ahead of Street expectations of $1.26 per share.

UNFI CEO, Sandy Douglas commented on the results, “Our fourth quarter capped a year of improving operational performance driving strong financial results. We also generated meaningful growth across our key financial metrics, including mid-teens adjusted earnings growth, while we reduced net leverage to under 2.6x and increased liquidity to approximately $1.7 billion.”

UNFI’s Board of Directors also approved a share buyback program that will authorize the company to purchase up to $200 million of its shares over a period of four years.

UNFI’s FY23 Outlook

The company expects its FY23 revenues to range between $29.8 billion and $30.4 billion with a growth of 4% year-over-year at the midpoint. Adjusted earnings are anticipated to come in between $4.85 and $5.15 per share.

Is United Natural Foods Stock a Good Buy?

Analysts are sidelined about UNFI with a Hold consensus rating based on one Buy and three Holds. The average price target for UNFI is $56 implying an upside potential of 45.7% at current levels.

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