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United Natural Foods, Inc. Reports Fourth Quarter and Full Year Fiscal 2026 Results

UNFI
  • United Natural Foods, Inc. reported fourth quarter fiscal 2026 net sales of $7.64 billion, a 0.7% decrease year-over-year, with full year fiscal 2026 net sales of $31.15 billion, a 2.0% decrease.
  • The company posted net income of $35 million for the fourth quarter and $84 million for the full fiscal year, compared to net losses in the prior year period.
  • Adjusted EBITDA increased 48.3% to $172 million in the fourth quarter and 27.0% to $701 million for the full fiscal year.
  • Net income per diluted share was $0.57 for the quarter and $1.34 for the year, while adjusted EPS reached $0.69 for the quarter and $2.65 for the year.
  • Net cash provided by operating activities totaled $197 million in the fourth quarter and $540 million for the full fiscal year.
  • Free cash flow was $80 million in the fourth quarter and $323 million for the full fiscal year, up 35.1% from the prior year.
  • Net sales included a 500 basis point adverse impact from planned optimization actions and a 150 basis point impact from short-term project work, partially offset by the absence of last year's cybersecurity event.
  • Natural product sales grew 6.6% in the quarter and 7.0% for the year, while conventional sales declined 8.6% in the quarter and 11.5% for the year.
  • The company completed the initial deployment of Lean daily management to 44 distribution centers, supporting four consecutive quarters of operational improvements.
  • Fiscal 2027 outlook projects net sales between $31.2 billion and $31.8 billion, with adjusted EBITDA guidance of $730 million to $780 million, a midpoint $25 million higher than previous guidance.
  • Total outstanding debt net of cash was $1.54 billion at the end of the quarter, resulting in a net leverage ratio of 2.2x.
  • Liquidity stood at approximately $1.27 billion as of August 1, 2026, consisting of $37 million in cash and $1.23 billion in unused asset-based lending facility capacity.
  • The board approved a new $200 million stock repurchase program on September 3, 2026, replacing the previous program authorized in September 2022.