The earnings call presented a mixed picture with strong sales and profitability growth but was overshadowed by significant operational disruptions due to an IT security breach. The termination of a major contract with Key Food also poses challenges. While underlying business momentum remains strong, the immediate focus is on resolving the IT issues and managing customer relationships.

Company Guidance -

Q4 2025

During UNFI's Third Quarter Fiscal 2025 earnings call, management provided a comprehensive update on the company's performance and strategic initiatives. They reported a 7.5% increase in third-quarter sales, reaching nearly $8.1 billion, driven by a 12% rise in the Wholesale Natural Products segment and close to a 3% increase in the Wholesale Conventional Products segment. Adjusted EBITDA grew by 21% year-over-year to $157 million, with an adjusted EBITDA rate of 2%, the highest in two years. UNFI also achieved a 75 basis point reduction in operating expenses as a percentage of net sales, reflecting improvements in process efficiency and Lean Daily Management implementation in 20 of their 52 distribution centers. The company generated $190 million in free cash flow during the quarter, surpassing their original annual outlook, and reduced net leverage by 1.3 turns compared to the previous year. Despite a recent cybersecurity incident, which UNFI is actively managing, the company remains confident in achieving its fiscal 2027 financial objectives ahead of schedule, with plans to update long-term financial goals in the fall.

Strong Q3 Sales Growth

Sales grew by 7.5% or about $506 million to nearly $8.1 billion, driven by 12% growth in the Wholesale Natural Products business and new business wins in the Wholesale Conventional Products business.

Adjusted EBITDA and Margin Improvement

Adjusted EBITDA grew by 21% to $157 million, with an adjusted EBITDA margin rate of 2%, the highest in 2 years.

Free Cash Flow and Debt Reduction

Generated $190 million in free cash flow in the quarter, reducing net debt to under $1.93 billion and lowering net leverage to 3.3 turns.

Network Optimization

Closed the sale of the Billings distribution center and used the proceeds to reduce debt. Continued progress on Lean Daily Management in 20 of 52 distribution centers.

United Natural Foods (UNFI) Earnings, Revenues Date & History

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UNFI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 07, 2025	2025 (Q4)	-0.18 / -	0.01	―	―	―
Jun 10, 2025	2025 (Q3)	0.22 / 0.44	0.1	340.00% (+0.34)
Mar 11, 2025	2025 (Q2)	0.18 / 0.22	0.07	214.29% (+0.15)
Dec 10, 2024	2025 (Q1)	-0.02 / 0.16	-0.04	500.00% (+0.20)
Oct 01, 2024	2024 (Q4)	-0.08 / 0.01	-0.25	104.00% (+0.26)
Jun 05, 2024	2024 (Q3)	0.01 / 0.10	0.54	-81.48% (-0.44)
Mar 06, 2024	2024 (Q2)	-0.02 / 0.07	0.78	-91.03% (-0.71)
Dec 06, 2023	2024 (Q1)	-0.32 / -0.04	1.13	-103.54% (-1.17)
Sep 26, 2023	2023 (Q4)	-0.39 / -0.25	1.27	-119.69% (-1.52)
Jun 07, 2023	2023 (Q3)	0.65 / 0.54	1.1	-50.91% (-0.56)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

UNFI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 10, 2025	$25.94	$23.30	-10.18%
Mar 11, 2025	$25.83	$24.57	-4.88%
Dec 10, 2024	$24.68	$29.62	+20.02%
Oct 01, 2024	$16.82	$21.96	+30.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.