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United Natural meets 2Q profit forecasts

PROVIDENCE, R.I. (AP) _ United Natural Foods Inc. (UNFI) on Wednesday reported fiscal second-quarter earnings of $25.5 million.

The Providence, Rhode Island-based company said it had net income of 50 cents per share.

The results met Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 50 cents per share.

The organic and specialty foods distributor posted revenue of $2.29 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $2.34 billion.

United Natural expects full-year earnings in the range of $2.53 to $2.58 per share, with revenue in the range of $9.38 billion to $9.46 billion.

United Natural shares have fallen almost 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.60, an increase of 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UNFI at https://www.zacks.com/ap/UNFI


Keywords: United Natural Foods, Earnings Report