United Natural Foods, Inc. (NASDAQ: UNFI) reported its fiscal fourth-quarter 2015 earnings Tuesday after the markets closed. The company had $0.72 in earnings per share (EPS) on $2.06 billion in revenue compared to Thomson Reuters consensus estimates that call for $0.72 in EPS on $2.06 billion in revenue. The same period from the previous year had $0.67 in EPS on $1.76 billion in revenue.

The company gave guidance for fiscal 2016. EPS for fiscal 2016 are estimated to be in the range of $2.86 to $2.98, an increase of 0.4% to 4.6% over fiscal 2015 EPS of $2.85. United estimates net sales in the range of approximately $8.51 billion to $8.67 billion, an increase of approximately 4.0% to 6.0% over fiscal 2015. There are consensus estimates of $2.86 in EPS on $8.19 billion in revenue.

Net sales for the fourth quarter of fiscal 2015 increased 16.8%, which included the net sales of approximately $221.7 million from the company’s acquisition of Tony’s Fine Foods. Gross margin was 15.3% for the fourth quarter of fiscal 2015, a 109 basis point decrease from gross margin of 16.4% for the same period last year.

Steven Spinner, President and CEO of United, said:

During fiscal 2015 we completed the build out of our distribution network, preparing us for a new phase of growth. With this additional capacity, particularly within perishables, we are poised to capitalize on increasing demand for fresh and distinctive products.

He concluded:

The UNFI team continues to demonstrate its commitment to growth and resilience as our industry changes. UNFI is well positioned to use its scale and differentiated product offering to add significant value for its customers across North America.

On the books, the company has $17.4 million in cash and cash equivalents compared to $16.1 million in the same period from the previous year.

Shares of United closed Tuesday up 1.6% at $50.67. Following the release of the earnings report, shares were up 2.8% at $52.10 in the after-hours trading session. The stock has a consensus analyst price target of $55.78 and a 52-week trading range of $44.05 to $83.91.

ALSO READ: 8 States Running Out of Water

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.