NEWS ER
United Natural Foods, Inc. Reports Fourth Quarter and Full Year Fiscal 2024 Results
• Net sales increased 10.0% to $8.2 billion; grew 2.1% on a comparable 13-week basis
• Net loss of $37 million; Loss per diluted share (EPS) of $(0.63)
• Adjusted EBITDA(1) increased 53.8% to $143 million, including an approximate $10 million benefit from the additional week
• Adjusted EPS(1) of $0.01
Recent Financial and Operational Summary
• Improving volume trends, new business with existing customers as well as benefits from near-term efficiency initiatives led to full year performance at upper end of outlook ranges for key financial metrics
• Net debt and net leverage(1) decreased sequentially to $2.06 billion and 4.0x, respectively, at year end from $2.13 billion and 4.6x, respectively, at the end of the third quarter
• Advancing network optimization by consolidating Billings and Bismarck distribution centers into other facilities
◦ Expected to improve customer and supplier experience in the region through better technology access, a broader product assortment and more efficient and effective service
• Introducing three-year business plan and financial objectives driving customer and supplier value, margin expansion, free cash flow generation and deleveraging
• Net loss of $37 million; Loss per diluted share (EPS) of $(0.63)
• Adjusted EBITDA(1) increased 53.8% to $143 million, including an approximate $10 million benefit from the additional week
• Adjusted EPS(1) of $0.01
Recent Financial and Operational Summary
• Improving volume trends, new business with existing customers as well as benefits from near-term efficiency initiatives led to full year performance at upper end of outlook ranges for key financial metrics
• Net debt and net leverage(1) decreased sequentially to $2.06 billion and 4.0x, respectively, at year end from $2.13 billion and 4.6x, respectively, at the end of the third quarter
• Advancing network optimization by consolidating Billings and Bismarck distribution centers into other facilities
◦ Expected to improve customer and supplier experience in the region through better technology access, a broader product assortment and more efficient and effective service
• Introducing three-year business plan and financial objectives driving customer and supplier value, margin expansion, free cash flow generation and deleveraging
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