United Natural Foods Q3 Results Miss Estimates; Cuts FY15 Outlook

(RTTNews) - United Natural Foods, Inc. (UNFI) reported net income for the third quarter of $41.8 million or $0.83 per share, compared to $36.4 million or $0.73 per share for the year-ago quarter.

Net income for the third quarter of fiscal 2015 includes a gain of $4.2 million associated with a transfer of land at the company's Prescott, Wisconsin facility.

Net sales for the third quarter rose 18.7% to $2.11 billion from $1.78 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.85 per share on revenue of $2.14 billion for the third quarter. Analysts' estimates typically exclude special items.

For the fiscal year 2015, the company now expects net sales of $8.15 to $8.19 billion, earnings of $2.75 to $2.79 per share and adjusted earnings of $2.84 to $2.88 per share. Previously, the company expected net sales of $8.19 billion to $8.29 billion and adjusted earnings of $2.90 to $2.99 per share.

Analysts currently expect the company to earn $2.92 per share on revenue of $8.27 billion for the fiscal year 2015.