United Natural Foods Inc. Files Q3 2024 10-Q

TL;DR

UNFI Q3 24 10-Q filed. Check financials.

AI Summary

United Natural Foods Inc. reported its third-quarter results for the period ending April 27, 2024. The company's financial performance and operational updates are detailed in this 10-Q filing. Specific financial figures and operational metrics are provided within the document.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for United Natural Foods Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the complexity of financial reporting and potential market fluctuations introduce medium risk.

Key Numbers

• 20240427 — Period End Date (The filing covers the financial period ending on this date.)
• 20240605 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• UNITED NATURAL FOODS INC (company) — Filer
• 20240427 (date) — Period of Report
• 20240605 (date) — Filed as of Date
• PROVIDENCE (location) — Business Address City
• RI (location) — Business Address State
• 02908 (postal_code) — Business Address Zip

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 UNFI New York Stock Exchange Indicate

Filing Documents

• unfi-20240427.htm (10-Q) — 1647KB
• exhibit104-q3fy24.htm (EX-10.4) — 1985KB
• exhibit105-q3fy24.htm (EX-10.5) — 1955KB
• exhibit106-q3fy24.htm (EX-10.6) — 305KB
• exhibit107-q3fy24.htm (EX-10.7) — 86KB
• exhibit311-q3fy24.htm (EX-31.1) — 9KB
• exhibit312-q3fy24.htm (EX-31.2) — 9KB
• exhibit321-q3fy24.htm (EX-32.1) — 4KB
• exhibit322-q3fy24.htm (EX-32.2) — 4KB
• unfi-20240427_g1.jpg (GRAPHIC) — 11KB
• 0001020859-24-000029.txt ( ) — 13573KB
• unfi-20240427.xsd (EX-101.SCH) — 52KB
• unfi-20240427_cal.xml (EX-101.CAL) — 71KB
• unfi-20240427_def.xml (EX-101.DEF) — 281KB
• unfi-20240427_lab.xml (EX-101.LAB) — 587KB
• unfi-20240427_pre.xml (EX-101.PRE) — 440KB
• unfi-20240427_htm.xml (XML) — 1550KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (unaudited) 3 Condensed Consolidated Statements of Operations (unaudited) 4 Condensed Consolidated Statements of Comprehensive (Loss) Income (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (unaudited) 6 Condensed Consolidated Statements of Cash Flows (unaudited) 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 41 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds , and Issuer Purchases of Equity Securities 41 Item 5. Other Information 41 Item 6. Exhibits 42

Signatures

Signatures 43 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements UNITED NATURAL FOODS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in millions, except for par values) April 27, 2024 July 29, 2023 ASSETS Cash and cash equivalents $ 39 $ 37 Accounts receivable, net 971 889 Inventories, net 2,232 2,292 Prepaid expenses and other current assets 269 245 Total current assets 3,511 3,463 Property and equipment, net 1,776 1,767 Operating lease assets 1,396 1,228 Goodwill 20 20 Intangible assets, net 668 722 Deferred income taxes 33 32 Other long-term assets 181 162 Total assets $ 7,585 $ 7,394 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 1,677 $ 1,781 Accrued expenses and other current liabilities 258 283 Accrued compensation and benefits 186 143 Current portion of operating lease liabilities 186 180 Current portion of long-term debt and finance lease liabilities 11 18 Total current liabilities 2,318 2,405 Long-term debt 2,148 1,956 Long-term operating lease liabilities 1,270 1,099 Long-term finance lease liabilities 11 12 Pension and other postretirement benefit obligations 16 16 Other long-term liabilities 141 162 Total liabilities 5,904 5,650 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.01 par value, authorized 5.0 shares; none issued or outstanding — — Common stock, $ 0.01 par value, authorized 100.0 shares; 62.0 shares issued and 59.5 shares outstanding at April 27, 2024; 61.0 shares issued and 58.5 shares outstanding at July 29, 2023 1 1 Additional paid-in capital 624 606 Treasury stock at cost ( 86 ) ( 86 ) Accumulated other comprehensive loss ( 33 ) ( 28 ) Retained earnings 1,175 1,250 Total United Natural Foods, Inc. stockholders' equity 1,681 1,743 Noncontrolling interests — 1 Total stockholders' equity 1,681 1,744 Total liabilities and stockholders' equity $ 7,585 $ 7,394 See accompanying Notes to Condensed Consolidated Financial Statements. 3 Table of Contents UNITED NATURAL FOO

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View this 10-Q filing on SEC EDGAR