UNFI Reports First Quarter Fiscal 2022 Results
United Natural Foods (the “Company” or “UNFI”) today reported financial results for the first quarter of fiscal 2022 (13 weeks) ended Oct. 30, 2021.
First Quarter Fiscal 2022 Highlights (comparisons to first quarter fiscal 2021)
- Net sales of $7.0 billion, an increase of 4.7 percent (+10.7 percent on a two-year stack basis)
- Net income of $76 million, an increase of $77 million
- Adjusted EBITDA of $189 million, an increase of 18.9 percent
- Earnings per diluted share (EPS) of $1.25
- Adjusted EPS of $0.97, an increase of 90.2 percent
- Company affirms fiscal 2022 full-year outlook
- Credit ratings upgraded by both Moody’s and S&P
“As consumers continue to seek at-home food solutions, UNFI remains dedicated to providing our customers with the products and services they need to compete effectively in today’s marketplace,” said CEO Sandy Douglas. “I’m pleased with our start to fiscal 2022 and how UNFI is navigating a challenging operating environment while simultaneously investing for the future, including improved distribution capabilities and new facilities, to better serve our customers.”
For more information, visit the company’s official press release.