United Natural Foods (UNFI) Stock Surges Over 24 Percent This Week Amid Exceeding Earnings In Q4: Time To Bet?

United Natural Foods (UNFI) jumped by 23.73% in the previous trading session after the company reported better-than-expected earnings. It is trading now at $46.65. United Natural Foods, which supplies organic grocery stores like Whole Foods, said Thursday that its revenue fell in the third quarter as Americans avoided eating out. Although sales missed expectations, the company still managed to top expectations. Its gross margin improved slightly, and its adjusted earnings per share rose 11%. Investors seemed focused on the bottom line, though.
United Natural Foods (UNFI) Stock Surges Over 24 Percent This Week Amid Exceeding Earnings In Q4: Time To Bet?Sandy Douglas, who took over as CEO last month, said he sees a “significant opportunity to accelerate” the company’s value creation and efficiency. Investors were also likely impressed with the company’s guidance for the current fiscal year. Management called for $27.8 billion to $28.3 billion in revenue, up 4% at the midpoint, and adjusted earnings per share of $3.90 to $4.20, also a 4% increase at the midpoint. Those numbers were better than analyst expectations at $27.81 billion in revenue and $3.38 in adjusted earnings per share.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.