UNITED NATURAL FOODS (UNFI) ticker: UNFI quarter: Q4 Financial Results Summary
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# United Natural Foods, Inc. (UNFI) Q4 2025 Financial Results SummaryProvidence, RI – United Natural Foods, Inc. (NYSE: UNFI) today reported financial results for the fourth quarter (13 weeks) and fiscal year (52 weeks) ended August 2, 2025, on September 30, 2025.
## Fourth Quarter Fiscal 2025 Performance
– **Net Sales:** $7.696 billion, a decrease of 5.6% versus Q4 2024, but growth of 1.6% on a comparable 13-week basis.
– **Net Loss:** $(87) million resulting in a loss per diluted share (EPS) of $(1.43). This compares to a net loss of $(37) million and $(0.63) EPS in Q4 2024.
– **Adjusted EBITDA:** $116 million, down 18.9% from $143 million in the same quarter last year.
– **Adjusted EPS:** $(0.11) compared to $0.01 in Q4 2024.
– **Net Cash Provided by Operating Activities:** $160 million, a decrease of 16.2% from $191 million.
– **Free Cash Flow:** $86 million, up 21.1% from $71 million in Q4 2024.
## Key Highlights
– **Financial Guidance:** Fiscal 2026 is expected to continue the momentum with an increase of about 20% in the midpoint of the adjusted EBITDA range compared to fiscal 2025.
– **Free Cash Flow Improvement:** Up $331 million from the previous year, demonstrating strong operational cash generation.
– **Net Debt Reduction:** Decreased to $1.83 billion, reaching the lowest level since 2018. Net leverage declined 0.7x to 3.3x.
– **Operational Efficiency:** Implemented lean daily management in 28 distribution centers, enhancing customer and supplier experiences.
## Fiscal Year Overview
– **Net Sales for FY 2025:** $31.784 billion, reflecting a growth of 2.6% compared to $30.980 billion in FY 2024.
– **Gross Profit:** $4.222 billion, a slight increase from $4.201 billion year-on-year.
– **Operating Expenses:** $4.117 billion, compared to $4.100 billion in the prior year.
– **Year-End Net Loss:** $(118) million compared to $(112) million the previous year.
## Financial Metrics Summary
| Metric | Q4 2025 | Q4 2024 | Change |
|---|---|---|---|
| Net Sales | $7.696 billion | $8.155 billion | -5.6% |
| Adjusted EBITDA | $116 million | $143 million | -18.9% |
| Net Loss | $(87) million | $(37) million | N/M |
| EPS (Loss per diluted share) | $(1.43) | $(0.63) | N/M |
| Adjusted EPS | $(0.11) | $0.01 | N/M |
| Free Cash Flow | $86 million | $71 million | +21.1% |
| Net Cash from Ops | $160 million | $191 million | -16.2% |
| Net Debt | $1.83 billion | N/A | N/A |
| Net Leverage | 3.3x | 4.0x | N/A |
## Operational Insights
– **Distribution Strategy:** Continued augmentation of its supply chain and logistics management despite challenges from a recent cyber incident.
– **Customer Relations:** Improved customer satisfaction via enhanced service offerings, furthering growth in sales towards organic and natural products.
– **Outlook for FY 2026:** Expected net sales between $31.6 and $32.0 billion, targeting an adjusted EBITDA of $630 to $700 million.
## Dividend and Share Repurchase
– United Natural Foods, Inc. did not declare a quarterly dividend nor mention any share repurchase program during this report.
This summary reflects the company’s ongoing efforts to navigate market challenges while remaining focused on growth and operational efficiency, indicating a strategic pathway toward future profitability.
| Fourth Quarter Ended | Fiscal Year Ended | |||
|---|---|---|---|---|
| August 2, 2025 (13 weeks) | August 3, 2024 | August 2, 2025 (52 weeks) | August 3, 2024 | |
| Net sales | $7,696 | $8,155 | $31,784 | $30,980 |
| Cost of sales | $6,666 | $7,039 | $27,562 | $26,779 |
| Gross profit | $1,030 | $1,116 | $4,222 | $4,201 |
| Operating expenses | $1,046 | $1,075 | $4,117 | $4,100 |
| Restructuring, acquisition | $59 | $19 | $94 | $36 |
| and integration related | ||||
| expenses | ||||
| Loss on sale of assets | $3 | $20 | $42 | $57 |
| and other asset charges | ||||
| Operating (loss) income | -78 | 2 | -31 | 8 |
| Net periodic benefit income, | -5 | -4 | -20 | -15 |
| excluding service cost | ||||
| Interest expense, net | 36 | 50 | 146 | 162 |
| Other income, net | — | — | -3 | -2 |
| Loss before income taxes | -109 | -44 | -154 | -137 |
| Benefit for income taxes | -23 | -7 | -39 | -27 |
| Net loss including | -86 | -37 | -115 | -110 |
| noncontrolling interests | ||||
| Less net income attributable | -1 | — | -3 | -2 |
| to noncontrolling interests | ||||
| Net loss attributable | -87 | -37 | -118 | -112 |
| to United Natural Foods, Inc. | ||||
| Basic loss per share | -1.43 | -0.63 | -1.95 | -1.89 |
| Diluted loss per share | -1.43 | -0.63 | -1.95 | -1.89 |
| Weighted average shares | ||||
| outstanding: | ||||
| Basic | 60.6 | 59.5 | 60.2 | 59.3 |
| Diluted | 60.6 | 59.5 | 60.2 | 59.3 |
| August 2, 2025 | August 3, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $44 | $40 |
| Accounts receivable, net | $1,093 | $953 |
| Inventories, net | $2,095 | $2,179 |
| Prepaid expenses and other current | $191 | $230 |
| assets | ||
| Total current assets | $3,423 | $3,402 |
| Property and equipment, net | $1,749 | $1,820 |
| Operating lease assets | $1,474 | $1,370 |
| Goodwill | $19 | $19 |
| Intangible assets, net | $576 | $649 |
| Deferred income taxes | $162 | $87 |
| Other long-term assets | $192 | $181 |
| Total assets | $7,595 | $7,528 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Accounts payable | $1,875 | $1,688 |
| Accrued expenses and other current | $319 | $288 |
| liabilities | ||
| Accrued compensation and benefits | $227 | $197 |
| Current portion of operating lease | $173 | $181 |
| liabilities | ||
| Current portion of long-term debt and | $8 | $11 |
| finance lease liabilities | ||
| Total current liabilities | $2,602 | $2,365 |
| Long-term debt | $1,859 | $2,081 |
| Long-term operating lease liabilities | $1,400 | $1,263 |
| Long-term finance lease liabilities | $11 | $12 |
| Pension and other postretirement | $14 | $15 |
| benefit obligations | ||
| Other long-term liabilities | $155 | $151 |
| Total liabilities | $6,041 | $5,887 |
| 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; 63.1 shares | ||
| issued and 60.6 shares outstanding at | $1 | $1 |
| August 2, 2025; 62.0 shares issued and | ||
| 59.5 shares outstanding at August 3, | ||
| 2024 | ||
| Additional paid-in capital | $658 | $635 |
| Treasury stock at cost | -86 | -86 |
| Accumulated other comprehensive loss | -42 | -47 |
| Retained earnings | $1,020 | $1,138 |
| Total United Natural Foods, Inc. | $1,551 | $1,641 |
| stockholders’ equity | ||
| Noncontrolling interests | $3 | — |
| Total stockholders’ equity | $1,554 | $1,641 |
| Total liabilities and | $7,595 | $7,528 |
| stockholders’ equity |