United Natural: Fiscal 1Q Earnings Snapshot
PROVIDENCE, R.I. (AP) _ United Natural Foods Inc. (UNFI) on Thursday reported a fiscal first-quarter loss of $19.3 million, after reporting a profit in the same period a year earlier.
The Providence, Rhode Island-based company said it had a loss of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.
The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The organic and specialty foods distributor posted revenue of $2.87 billion in the period, topping Street forecasts. Eleven analysts surveyed by Zacks expected $2.69 billion.
United Natural expects full-year earnings in the range of $1.69 to $1.89 per share, with revenue in the range of $21.5 billion to $22 billion.
United Natural shares have dropped 60 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.73, a fall of 60 percent in the last 12 months.