John Heinbockel

Andrew Paul Wolf

Leah Jordan

Mark Carden

Scott Mushkin

Edward Kelly

Kelly Bania

Alex Slagle

Benjamin Wood

Ben Wood

Bill Kirk

Charles Cerankosky

Chuck Cerankosky

Matthew Rothway

William Kirk

William Reuter

- UNFI reported **Q4 2025 net sales of $7.7 billion**, with comparable 13-week sales growing **1.6%** despite an estimated **5%** impact from a cyber incident.  **[1020859_2162339_4]**  The natural segment saw **9%** growth on a comparable basis.  **[1020859_2162339_4]** 
- For fiscal year 2025, the company met its net sales and adjusted EBITDA outlook and exceeded its free cash flow target, reducing net debt to approximately **$1.8 billion** and net leverage by **0.7 turns**.  **[1020859_2162339_1]** 
- The fiscal 2026 outlook projects net sales between **$31.6 billion and $32 billion**, adjusted EBITDA between **$630 million and $700 million**, and adjusted EPS between **$1.50 and $2.30** per share.  **[1020859_2162339_6]**  The company aims for approximately **$300 million** in free cash flow and net leverage of **2.5 times or less** by year-end 2026.  **[1020859_2162339_6]** 
- UNFI also raised its multi-year objectives for fiscal 2024-2027, now expecting average annual net sales growth in the **low single digits** (up from flat) and adjusted EBITDA growth in the **low double-digit range**, targeting over **$730 million** in adjusted EBITDA by fiscal 2027.  **[1020859_2162339_3]** **[1020859_2162339_3]**

UNFI Reports Q4 2025 Results and Raises Multi-Year Financial Objectives

- For Q4 FY25, United Natural Foods reported **net sales of $7,696 million** and **Adjusted EBITDA of $116 million**.  **[1020859_2161956:5]**  The company finished fiscal year 2025 with **net sales of $31,784 million**, **Adjusted EBITDA of $552 million**, and **Adjusted EPS of $0.71**.  **[1020859_2161956:5]**  Q4 net sales were impacted by an estimated **$400 million** and Adjusted EBITDA by **$50 million** from a cyber incident.  **[1020859_2161956:5]** 
- United Natural Foods generated **$239 million** in free cash flow for fiscal year 2025.  **[1020859_2161956:12]**  Net debt was reduced to **$1,834 million** by Q4 FY25, the lowest level since 2018  **[1020859_2161956:7]** **[1020859_2161956:10]** , resulting in a net debt to Adjusted EBITDA leverage ratio of **3.3x**.  **[1020859_2161956:7]** **[1020859_2161956:10]** 
- For fiscal year 2026, the company anticipates **net sales between $31.6 billion and $32.0 billion**, **Adjusted EBITDA between $630 million and $700 million**, and **Adjusted EPS between $1.50 and $2.30**.  **[1020859_2161956:9]**  They also expect to generate approximately **$300 million** in free cash flow for FY26.  **[1020859_2161956:9]** 
- The company raised its three-year financial objectives, now targeting **low-single digit average annual sales growth** and **low-double digit average annual Adjusted EBITDA growth** from fiscal 2024 to fiscal 2027.  **[1020859_2161956:6]**  United Natural Foods also anticipates ending fiscal 2026 with net leverage **2.5x or lower**, approximately one year ahead of initial expectations, and projecting fiscal 2027 net leverage to be **below 2.0x**.  **[1020859_2161956:6]**

United Natural Foods Reports Q4 and Full-Year 2025 Results, Provides FY26 Outlook and Raises Long-Term Objectives

- For the fourth quarter of fiscal 2025, United Natural Foods, Inc. (UNFI) reported net sales of **$7.7 billion**, a net loss of **$(87) million**, and Adjusted EPS of **$(0.11)**. For the full fiscal year 2025, net sales reached **$31.8 billion**, with a net loss of **$(118) million** and Adjusted EPS of **$0.71**.  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:0]** 
- The company significantly improved its free cash flow in fiscal 2025, which increased by **$331 million** compared to the prior year, totaling **$239 million**. Net debt decreased to **$1.83 billion**, the lowest level since 2018, resulting in a net leverage ratio of **3.3x** as of August 2, 2025.  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:0]** **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]** 
- UNFI provided its fiscal 2026 outlook, projecting net sales between **$31.6 billion and $32.0 billion**, Adjusted EBITDA between **$630 million and $700 million**, and Adjusted EPS between **$1.50 and $2.30**.  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]** 

**Fiscal Year 2026 Outlook**
| Metric | FY 2026 |
|:---|:---|
| Net sales ($ in billions) | **$31.6 - $32.0**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |
| Net income ($ in millions) | **$0 - $50**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |
| EPS ($) | **$0.00 - $0.80**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |
| Adjusted EPS ($) | **$1.50 - $2.30**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |
| Adjusted EBITDA ($ in millions) | **$630 - $700**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |
| Capital and cloud implementation expenditures ($ in millions) | **~ $250**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |
| Free cash flow ($ in millions) | **~ $300**  **[1020859_0001020859-25-000050_f25q4earningsrelease.htm:2]**  |

UNFI Reports Q4 2025 Results and Provides Fiscal 2026 Outlook

- United Natural Foods, Inc. (UNFI) reported **net sales of $7.7 billion** for the fourth quarter of fiscal 2025, a **1.6% increase** on a comparable 13-week basis, with a **net loss of $(87) million** and **Adjusted EPS of $(0.11)**.  **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_0]** **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_1]**  For the full fiscal year 2025, net sales were **$31.8 billion**, with a **net loss of $(118) million** and **Adjusted EPS of $0.71**.  **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_1]** 
- The company delivered **$86 million in free cash flow** for the fourth quarter and **$239 million** for the full fiscal year 2025, representing a **$331 million improvement** compared to the prior year.  **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_0]** **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_1]** 
- UNFI's net debt decreased to **$1.83 billion**, the lowest level since 2018, and the net debt to Adjusted EBITDA leverage ratio declined by **0.7x** to **3.3x** as of August 2, 2025.  **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_0]** **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_2]** 
- For fiscal year 2026, UNFI projects **net sales between $31.6 billion and $32.0 billion**, **Adjusted EBITDA between $630 million and $700 million**, and **free cash flow of approximately $300 million**.  **[1020859_e3d4a4db3ffc43f2ac8419add5a28e53_3]**

UNFI Reports Q4 and Full Year Fiscal 2025 Results and Provides 2026 Outlook

UNITED NATURAL FOODS (UNFI)