United Natural Foods plunges after earnings guidance misses by wide margin By Investing.com

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<span>© Reuters. United Natural Foods (UNFI) plunges after earnings guidance misses by wide margin</span><br />
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<p><span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> United Natural Foods </span></span> (NYSE:) shares plunged more than 22% Tuesday after the company reported earnings before the open, with guidance coming in significantly below consensus estimates.</p>
<p>The natural and organic food company a fourth quarter loss of $0.25 per share, $0.14 better than the analyst estimate of a $0.39 loss per share. Revenue for the quarter came in at $7.4 billion, below the consensus estimate of $7.47B.</p>
<p>The company said its fourth quarter concluded a challenging year. They noted that “profitability declined primarily due to a decrease in inflation-driven procurement gains and elevated shrink.”</p>
<p>Furthermore, UNFI expects further headwinds as the company continues to cycle elevated inflationary benefits during the first half of fiscal 2024.</p>
<p>United Natural Foods revealed it sees its FY2024 loss per share between $0.88 and $0.38, versus the consensus of $2.56 profit per share. Revenue for the period is seen from $30.9 to $31.5B, versus the consensus of $31B.</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/united-natural-foods-plunges-after-earnings-guidance-misses-by-wide-margin-432SI-3183106">Source link </a></p><p>The post <a href="https://forextraderhub.com/united-natural-foods-plunges-after-earnings-guidance-misses-by-wide-margin-by-investing-com.html">United Natural Foods plunges after earnings guidance misses by wide margin By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>