United Natural Foods beats sales and adjusted profit targets, shares rise

United Natural Foods Inc. shares rose 2.1% on Tuesday after the company said its fourth-quarter net income fell to $39 million, or 63 cents a share, from $43 million, or 69 cents a share, in the year-ago quarter. Adjusted fourth-quarter profit rose to $1.27 a share from $1.25 a share. Fourth-quarter sales increased 8% to $7.27 billion from $6.74 billion. Analysts expected the food distributor to earn $1.26 a share on revenue of $7.1 billion, according to FactSet data. Looking ahead United Natural Foods expects fiscal 2023 adjusted earnings of $4.85 a share to $5.15 a share and sales of $29.8 billion to $30.4 billion. Analysts are currently expecting earnings of $5.09 a share and revenue of $30.1 billion, according to FactSet data. Shares of United Natural Foods are down 21.7% in 2022, compared to a 23.3% loss by the S&P 500 .

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