Solid Financial Performance
United Natural Foods, Inc. delivered solid results with adjusted EBITDA and free cash flow meaningfully above prior year levels. Net leverage declined approximately one turn compared to the prior year quarter.
Natural Products Segment Growth
The natural products segment saw growth of 11%, reflecting strong unit growth and outperforming the market.
Improved Free Cash Flow
Free cash flow results improved by over $100 million compared to last year's first quarter.
Successful Network Optimization
Network optimization efforts proceeded ahead of schedule, contributing to improved profitability and free cash flow.
Strong Adjusted EBITDA Growth
Adjusted EBITDA for the first quarter was $107 million, up nearly 25% year over year.
Improved Gross Margin
The gross margin rate in the first quarter was 13.4%, up 20 basis points versus the prior year quarter.