FX.co ★ United Natural Foods Boosts FY24 Bottom Line Outlook, But Trims Net Sales - Update

United Natural Foods, Inc. (UNFI) updated its forecast for its 2024 financial results on Wednesday. The company has improved its prediction for the full-year's bottom line results, although it slightly reduced the estimated net sales for the year.

UNFI's new projection for 2024 is a loss ranging from $1.70 to $1.08 per share, with adjusted results potentially featuring a loss of $0.56 per share or earnings of up to $0.06 per share. This is a positive revision from its previous expectation of a loss between $2.02 and $0.76 per share, with adjusted results within the span of a $0.88 per share loss and $0.38 per share earnings.

Despite this, UNFI lowered its net sales forecast from between $30.9 billion and $31.5 billion to a slightly reduced $30.5 billion to $31.0 billion range.

On another note, the average forecasts from analysts polled by Thomson Reuters suggest the company will report $0.04 earnings per share and $31.01 billion net sales for the year. Reminder: analysts' predictions usually exclude extraordinary items.