United Natural Foods (UNFI) Reports In-Line Q1 EPS, Beats on Revenues; Boosts FY18 EPS/Revenue Mid-Point Guidance Above Consensus

United Natural Foods (NASDAQ: UNFI) reported Q1 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $2.46 billion versus the consensus estimate of $2.39 billion.

Fiscal 2018 Guidance

Based on UNFI\'s performance to date and the outlook for the remainder of fiscal 2018, the Company is revising its guidance previously provided on September 13, 2017. For fiscal 2018, ending July 28, 2018, the Company now estimates net sales in the range of approximately $9.84 billion to $10.00 billion, an increase of 6.2% to 7.8% over fiscal 2017 net sales, compared to the previous estimate of $9.63 billion to $9.81 billion. The Company now estimates earnings per diluted share for fiscal 2018 in the range of approximately $2.72 to $2.80, an increase of approximately 6.3% to 9.4% over fiscal 2017 earnings per diluted share of $2.56, compared to the previous estimate of $2.67 to $2.77. The Company now expects its fiscal 2018 tax rate to be in the range of 40.0% to 40.3%, compared to previous guidance of 40.3% to 40.7%. The Company’s estimates related to fiscal 2018 capital expenditures as a percentage of net sales and free cash flow are unchanged from the Company’s previous guidance. The Company\'s guidance is based on current plans and expectations and is subject to a number of known and unknown uncertainties and risks, including those set forth under the Company\'s safe harbor statement of the Private Securities Litigation Reform Act of 1995 below.

GUIDANCE:

United Natural Foods sees FY2018 EPS of $2.72-$2.80, versus the consensus of $2.72. United Natural Foods sees FY2018 revenue of $9.84-10 billion, versus the consensus of $9.72 billion.

For earnings history and earnings-related data on United Natural Foods (UNFI) click here.

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