By Kailyn Rhone
Shares of United Natural Foods jumped after the company reported first quarter results that beat analysts expectations and raised its full year sales outlook.
The company's stock rose 29% to $31.94 after hitting a 52-week high of $32.12 earlier in Tuesday's session. For the year, shares are up almost 97%.
The Providence, R.I.-based natural and organic food company on Tuesday posted a narrower loss of $21 million, or 35 cents a share, compared with $39 million, or 67 cents a share, in the last year's quarter.
Stripping out certain one-item items, adjusted earnings were 16 cents a share. That beat analysts expectations of a loss of two cents a share, according to FactSet.
Revenue rose 4.2% to $7.87 billion from $7.55 billion a year earlier, topping the $7.61 billion analysts expected.
The company raised its full year sales outlook to be between $30.6 billion to $31 billion, up from its previous guidance between $30.3 billion and $30.8 billion and in line with the $30.7 billion analysts polled by FactSet expect.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
December 10, 2024 10:31 ET (15:31 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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