UNFI Files 10-Q: Financials and Operations Update

TL;DR

UNFI 10-Q filed. Financials look steady, operations are detailed. Keep an eye on wholesale grocery trends.

AI Summary

United Natural Foods Inc. (UNFI) filed its 10-Q for the period ending November 2, 2024. The filing details financial performance and operational updates for the company. Specific financial figures and operational metrics are presented within the report, reflecting the company's status in the wholesale grocery sector.

Why It Matters

This filing provides investors and analysts with a detailed look into United Natural Foods Inc.'s financial health and operational performance, crucial for understanding the company's market position and future prospects.

Risk Assessment

Risk Level: medium — The wholesale grocery sector can be subject to fluctuating consumer demand, supply chain disruptions, and competitive pressures, impacting UNFI's financial performance.

Key Numbers

• 2025 Q1 — Fiscal Quarter (Indicates the reporting period is the first quarter of fiscal year 2025.)
• 2024-11-02 — Report End Date (The end date of the reporting period for this 10-Q filing.)
• 2024-12-10 — Filing Date (The date the 10-Q was officially filed with the SEC.)

Key Players & Entities

• UNITED NATURAL FOODS INC (company) — Filer
• 20241102 (date) — Period of Report
• 20241210 (date) — Filed as of Date
• PROVIDENCE (location) — Business Address City
• RI (location) — Business Address State
• 02908 (postal_code) — Business Address Zip
• 401-528-8634 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• unfi-20241102.htm (10-Q) — 1189KB
• exhibit311-q1fy25.htm (EX-31.1) — 9KB
• exhibit312-q1fy25.htm (EX-31.2) — 9KB
• exhibit321-q1fy25.htm (EX-32.1) — 4KB
• exhibit322-q1fy25.htm (EX-32.2) — 4KB
• unfi-20241102_g1.jpg (GRAPHIC) — 11KB
• 0001020859-24-000098.txt ( ) — 7150KB
• unfi-20241102.xsd (EX-101.SCH) — 48KB
• unfi-20241102_cal.xml (EX-101.CAL) — 70KB
• unfi-20241102_def.xml (EX-101.DEF) — 239KB
• unfi-20241102_lab.xml (EX-101.LAB) — 529KB
• unfi-20241102_pre.xml (EX-101.PRE) — 400KB
• unfi-20241102_htm.xml (XML) — 1173KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (unaudited) 3 Condensed Consolidated Statements of Operations (unaudited) 4 Condensed Consolidated Statements of Comprehensive Loss (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (unaudited) 6 Condensed Consolidated Statements of Cash Flows (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 6. Exhibits 36

Signatures

Signatures 37 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) November 2, 2024 August 3, 2024 ASSETS Cash and cash equivalents $ 37 $ 40 Accounts receivable, net 1,103 953 Inventories, net 2,402 2,179 Prepaid expenses and other current assets 201 230 Total current assets 3,743 3,402 Property and equipment, net 1,800 1,820 Operating lease assets 1,499 1,370 Goodwill 19 19 Intangible assets, net 631 649 Deferred income taxes 86 87 Other long-term assets 188 181 Total assets $ 7,966 $ 7,528 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable $ 1,906 $ 1,688 Accrued expenses and other current liabilities 278 288 Accrued compensation and benefits 156 197 Current portion of operating lease liabilities 180 181 Current portion of long-term debt and finance lease liabilities 10 11 Total current liabilities 2,530 2,365 Long-term debt 2,244 2,081 Long-term operating lease liabilities 1,393 1,263 Long-term finance lease liabilities 11 12 Pension and other postretirement benefit obligations 15 15 Other long-term liabilities 148 151 Total liabilities 6,341 5,887 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; 62.4 shares issued and 59.9 shares outstanding at November 2, 2024; 62.0 shares issued and 59.5 shares outstanding at August 3, 2024 1 1 Additional paid-in capital 638 635 Treasury stock at cost ( 86 ) ( 86 ) Accumulated other comprehensive loss ( 45 ) ( 47 ) Retained earnings 1,117 1,138 Total United Natural Foods, Inc. stockholders' equity 1,625 1,641 Noncontrolling interests — — Total stockholders' equity 1,625 1,641 Total liabilities and stockholders' equity $ 7,966 $ 7,528 See accompanying Notes to Condensed Consolidated Financial Statements. 3 Table of Contents UNITED NAT

View Full Filing

View this 10-Q filing on SEC EDGAR