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United Natural Foods

United Natural Foods (UNFI) Q3 2026 Earnings

Reported Jun 9, 2026 at 7:02 AM ET · SEC Source

Q3 26 EPS

$0.77

MISS 0.19%

Est. $0.77

Q3 26 Revenue

$7.72B

MISS 1.03%

Est. $7.80B

vs S&P Since Q3 26

-11.9%

TRAILING MARKET

UNFI -10.8% vs S&P +1.0%

Market Reaction

Did UNFI Beat Earnings? Q3 2026 Results

United Natural Foods posted a narrow miss on both top and bottom lines in its fiscal third quarter of 2026, with adjusted EPS of $0.77 falling short of the $0.77 consensus by just 0.19% and revenue of $7.72 billion coming in 1.03% below the $7.80 bil… Read more United Natural Foods posted a narrow miss on both top and bottom lines in its fiscal third quarter of 2026, with adjusted EPS of $0.77 falling short of the $0.77 consensus by just 0.19% and revenue of $7.72 billion coming in 1.03% below the $7.80 billion estimate, even as the wholesale grocer extended its streak of consensus EPS beats to four consecutive quarters. The 4.2% year-over-year revenue decline was largely intentional, with management attributing roughly 450 basis points of the drop to deliberate network optimization, including the completed exit of its Allentown, Pennsylvania distribution center and the unwinding of low-margin project work in its Natural segment. Beneath the softer top line, profitability improved materially, with Adjusted EBITDA climbing 16.6% to $183.00 million and GAAP net income swinging to $33.00 million from a loss of $7.00 million a year ago. Looking ahead, UNFI narrowed its full-year guidance to net sales of $31.10 to $31.30 billion and Adjusted EPS of $2.40 to $2.60, maintaining midpoints while signaling continued confidence in its margin-focused transformation.

Key Takeaways

  • • Network optimization actions contributed approximately 450 basis points to sales decline but improved profitability
  • • Gross profit rate improved to 13.6% from 13.4% driven by network optimization and customer mix
  • • Operating expenses reduced by nearly 7% with operating expense rate improved by nearly 40 basis points
  • • Insurance proceeds of $20 million from cybersecurity incident recovered in the quarter
  • • Lower interest expense driven by lower average outstanding debt balances
  • • Adjusted EBITDA increased 16.6% to $183 million

UNFI Forward Guidance & Outlook

UNFI narrowed its full-year fiscal 2026 guidance ranges while maintaining midpoints. Updated outlook: Net sales of $31.1–$31.3 billion (prior $31.0–$31.4 billion); Net income of $55–$70 million (prior $50–$75 million); EPS of $0.90–$1.10 (prior $0.80–$1.20); Adjusted EPS of $2.40–$2.60 (prior $2.30–$2.70); Adjusted EBITDA of $685–$705 million (prior $680–$710 million); Capital and cloud implementation expenditures of ~$250 million; Free cash flow of ~$330 million. The outlook does not include any incremental impact from insurance proceeds.

24/7 Wall St

UNFI YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

24/7 Wall St

UNFI Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q3 26

“Through disciplined execution of our value creation strategy, we delivered underlying sales growth, higher profitability, and strong free cash flow, which strengthened our balance sheet and increased our financial flexibility. At the same time, we advanced capabilities to help our customers and suppliers grow profitably, while continuing to invest in next generation supply chain solutions that are steadily improving our effectiveness and efficiency.”

— Sandy Douglas, Q3 2026 Earnings Press Release

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