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United Natural Foods Reports Record Fourth Quarter and Strong Full Year Fiscal 2020 Results

United Natural Foods, Inc. reported financial results for the fourth quarter (13 weeks) and fiscal year (52 weeks) ended August 1, 2020.

Fiscal 2020 Full Year Highlights

(Fiscal 2019 was a 53 week year that included the contribution from an acquisition for 41 weeks)

  • Net sales increased to $26.5 billion
  • Net loss of $(274) million, including $425 million pre-tax goodwill and asset impairment charges recorded in the first quarter of fiscal 2020
  • Adjusted EBITDA increased to $673 million
  • Loss per diluted share (EPS) improved to $(5.10)
  • Adjusted EPS increased to...
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Sep 30 8:23 AM, General News



Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets 

Moving through Q4 2020 and into 2021, the global poultry industry will operate in a volatile market context, with pressure coming from foodservice and wholesale markets. Possible new waves of Covid-19 will add to the market ups and downs, and the impact of a deep economic crisis will make markets more price-driven.

“Over the whole year, we expect a slight increase in global poultry production, mostly as a result of poultry expansion in China and Vietnam, where African swine fever has reduced pork availability, and also from expansion in the US. The rest of the world will be...

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Sep 29 8:23 AM, General News


Premium Brands Announces Acquisition of Global Gourmet Foods and Allseas Fisheries 

Premium Brands Holdings Corporation, a leading producer, marketer and distributor of branded specialty food products, announced that it has acquired Global Gourmet Foods Inc. and signed an agreement to acquire Allseas Fisheries Inc.

Global Gourmet is one of Canada’s leading providers of ready-to-eat kettle cooked food solutions, including protein-based fillings, specialty sauces, soup bases and side dishes, to retailers and restaurants in Canada and...

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Sep 1 8:53 AM, General News


ANALYSIS: Taking a Look At the Spread Between Ribeyes and Strip Loins 

Typically, ribs and loins follow the same sort of trend, and are largely sought after in the foodservice sector. This year, with the pandemic, there has been...

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Aug 25 8:20 AM, Urner Barry


United Natural Foods Reports Third Quarter Fiscal 2020 Results

United Natural Foods, Inc. reported financial results for the third quarter of fiscal 2020 (13 weeks) ended May 2, 2020.

Third Quarter Fiscal 2020 Highlights

  • Net Sales increased 12% to $6.67 billion compared to $5.96 billion in last year's fiscal third quarter
  • Net income increased 54% to $88 million; Adjusted EBITDA increased 32% to $222 million
  • Earnings per diluted share (EPS) of $1.60; Adjusted EPS increased 130% to $1.40
  • Net debt reduced by $302 million compared to the second quarter of fiscal 2020
  • Updates fiscal 2020 guidance, which includes the impact of Retail included...
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Jun 10 9:24 AM, General News


The Trip Back to 'Normal' Slaughter Levels

Tuesday, May 26th, was a relative milestone for the hog industry as of late. The day’s kill was estimated at 405,000 head, the first time daily slaughter reached the 400,000 mark since April 17th. While this is a small victory, it is a victory nonetheless for an industry that has seen a precipitous drop in chain speeds due to COVID-19. The last time hog slaughter was near ‘normal’ was the week ended April 18th. Just two months ago, the industry achieved the largest daily hog slaughter on record at 500,879 head. As worker absenteeism and plant shutdowns disrupted chain speeds drastically during the last week of April, daily kill dropped to as low as 267,367 head, nearly 47% off its peak. 

It has been a slow but steady climb back to ‘normal’ slaughter levels. The improvement in production capabilities during the latest five weeks has helped nudge last week’s kill to over 2 million head. Early indications for this Saturday’s slaughter are pushing... 

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May 27 10:49 AM, UB Newswires




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