UNFI - United Natural Foods shares fall despite earnings beat raised guidance

United Natural Foods (NYSE:UNFI) stock fell sharply on Tuesday despite posting an earnings beat and outlook above expectations. The Providence, Rhode Island-based organic food distributor reported non-GAAP EPS of $1.10 for the company’s fiscal third quarter, beating estimates by $0.12. Meanwhile, 9.2% revenue growth from the prior year to $7.24B beat estimates by $150M. “Our third quarter performance further demonstrates UNFI’s agility and its focus on servicing customers despite a challenging operating environment,” CEO Sandy Douglas said. “As we look towards a successful end to our fiscal year, we continue to make progress in simplifying our business and focusing resources on the most important areas that create value for our customers, suppliers, and shareholders.” Looking toward the full year, the company expects revenue in a range between $28.8B and $29.1B, above the $28.65B consensus and above the previously stated outlook range of $27.8B to $28.3B. Adjusted Diluted EPS of $4.65

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United Natural Foods shares fall despite earnings beat, raised guidance