NEW YORK (TheStreet) -- United Natural Foods (UNFI) shares are down 6.76% to $59.36 in after-hours trading on Monday after the North American organic food distributor released its third quarter earnings results after the closing bell today.
The Providence, RI-based company reported third quarter net income of $41.8 million, or 78 cents per diluted share, on revenue of $2.11 billion.
Analysts on average were expecting the company to report earnings of 86 cents per share on revenue of $2.14 billion.
For the year the company forecast earnings between $2.84 and $2.88 per share on revenue between $8.15 billion and $8.19 billion.
TheStreet Ratings team rates UNITED NATURAL FOODS INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNITED NATURAL FOODS INC (UNFI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: UNFI Ratings Report