VITL - United Natural Q3 Earnings Meet Estimates Sales Decline | Benzinga
United Natural Foods, Inc. (NYSE: UNFI) posted soft third-quarter fiscal 2024 results, as both the top and bottom lines declined year over year, and sales fell short of the Zacks Consensus Estimate.
However, the company has been on track with operational and efficiency initiatives to drive cost reductions and supply chain efficiencies. Additionally, United Natural is nearing a new multi-year strategic plan set to commence in fiscal 2025. The updated strategy is expected to generate nearly $100 million in free cash flow in fiscal 2025, with expectations for stable and reliable profit and cash flow growth, improved returns on capital and a reduction in net leverage over multiple years.
Quarter in Detail
United Natural's adjusted earnings came in at 10 cents per share, which matched the Zacks Consensus Estimate. However, this Zacks Rank #4 (Sell) company's bottom line slumped 81.5% from 54 cents reported in the year-ago period.
United Natural Foods, Inc. Price, Consensus and EPS Surprise
United Natural Foods, Inc. price-consensus-eps-surprise-chart | United Natural Foods, Inc. Quote
Net sales inched down 0.1% to $7,498 million, which missed the Zacks Consensus Estimate of $7,564 million. The downside can be attributed to lower unit volumes, partly compensated by inflation and new business ...