NEW YORK - United Natural Foods , Inc. (NYSE:UNFI) saw its stock jump 10.4% in premarket trading on Tuesday after the grocery wholesaler reported better-than-expected first quarter results and raised its full-year guidance.
The company posted adjusted earnings per share of $0.16 for the first quarter ended November 2, beating analyst estimates of a $0.03 loss per share. Revenue rose 4.2% year-over-year to $7.87 billion, surpassing expectations of $7.61 billion.
United Natural Foods attributed the strong performance to new business gains with existing customers and improved operational execution. The company's Supernatural segment, which includes Whole Foods Market, saw sales surge 13.8% compared to the prior year quarter.
"Our performance this quarter represents a solid start to fiscal 2025 and serves as an early proof point of our recently introduced multi-year strategic plan," said CEO Sandy Douglas.
Looking ahead, United Natural Foods raised its full-year outlook, now expecting adjusted EPS of $0.40-$0.80 on revenue of $30.6-$31 billion.
The company also reported a $170 million improvement in free cash flow compared to the prior year quarter, reflecting progress on its efficiency initiatives.
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