Shares of United Natural Foods (NYSE:UNFI) cratered today after it reported earnings for its second quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.78 with revenue of $7.8 billion. This missed EPS estimates of $1.45 but beat revenue by $30 million.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Looking forward, management expects adjusted EPS for Fiscal Year 2023 to be in the range of $3.05 to $3.90. For reference, analyst consensus was expecting $5.34 per share. In addition, revenue is anticipated to come in between $30.1 billion to $30.5 billion versus estimates of $31.44 billion.
Overall, Wall Street analysts have a consensus price target of $50.33 on UNFI stock, implying 76.6% upside potential, as indicated by the graphic above. However, it’ll be interesting to see if this will change going forward following today’s results.