United Natural Foods stock plunged toward a 1 1/2-year low after big earnings miss and lowered full-year outlook

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Shares of United Natural Foods Inc. plunged 20.8% toward a 19-month low in premarket trading Wednesday after the grocery wholesaler reported fiscal...

Shares of United Natural Foods Inc.

plunged 20.8% toward a 19-month low in premarket trading Wednesday after the grocery wholesaler reported fiscal second-quarter profit that missed by a wide margin, as “rapidly accelerating inflation” took a bite out of results. Net income for the quarter to Jan. 29 fell to $19 million, 31 cents a share, from $66 million, or $1.08 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 78 cents was well below the FactSet consensus of $1.45. Sales grew 5.

plunged 20.8% toward a 19-month low in premarket trading Wednesday after the grocery wholesaler reported fiscal second-quarter profit that missed by a wide margin, as “rapidly accelerating inflation” took a bite out of results. Net income for the quarter to Jan. 29 fell to $19 million, 31 cents a share, from $66 million, or $1.08 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 78 cents was well below the FactSet consensus of $1.45. Sales grew 5.

 

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