-=United Natural Foods (UNFI) reported earnings on Thur 6 Dec 18 (a/h)

United Natural Foods misses by $0.14, beats on revs; guides FY19 EPS below consensus, revs in-line

• Reports Q1 (Oct) earnings of $0.59 per share, $0.14 worse than the S&P Capital IQ Consensus of $0.73; revenues rose 16.7% year/year to $2.87 bln vs the $2.7 bln S&P Capital IQ Consensus.
• Reports gross margin of 14.38% which included a $1.8 million, or 0.06% of net sales, inventory fair value adjustment charge related to the acquisition of SUPERVALU. When adjusted for this charge, gross margin in 1Q19 was 14.44% of net sales compared to 14.94% of net sales in last fiscal year's first quarter.
• Co issues guidance for FY19, sees EPS of $1.69-$1.89 vs. $3.32 S&P Capital IQ Consensus; sees FY19 revs of $21.5-$22.0 bln vs. $21.52 bln S&P Capital IQ Consensus. Sees Adj EBITDA of $650-$665 mln.