United Natural Foods Inc. (NYSE: UNFI) reported second-quarter fiscal 2026 results that surpassed earnings expectations but fell short on revenue, sending shares down more than 8% intra-day Tuesday.
The grocery wholesaler posted adjusted earnings per share of $0.62, exceeding the analyst consensus estimate of $0.51 by $0.11. Revenue declined 2.6% year over year to $7.95 billion, missing the $8.11 billion estimate and down from $8.16 billion in the same quarter last year.
The company said the decline included nearly a 500-basis-point impact from operational optimization actions, largely tied to the planned transition away from its distribution center in Allentown, Pennsylvania.
Adjusted EBITDA rose 23.4% to $179 million compared with $145 million a year earlier. Net income totaled $20 million, or $0.31 per diluted share, reversing a loss of $3 million, or negative $0.05 per share, in the second quarter of fiscal 2025.
UNFI raised its fiscal 2026 adjusted EPS outlook to between $2.30 and $2.70, with the midpoint of $2.50 exceeding the analyst consensus estimate of $2.18. However, the company lowered its revenue forecast to $31.0 billion to $31.4 billion, with the midpoint of $31.2 billion falling below the $31.93 billion consensus.
