Quick Win By The Algorithm: UNFI Releases First Quarter Fiscal 2018 Results

Quick Win By The Algorithm

United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The company serves independently owned natural products retailers, supernatural chains, conventional supermarkets, and mass market chains, as well as foodservice, e-commerce, and international customers outside Canada. United Natural Foods, Inc. was founded in 1976 and is headquartered in Providence, Rhode Island.

On December 7th, 2017, United Foods, Inc. released its first quarter fiscal 2018 results ending October 28, 2017. Over this period, the company showed some improvements in its results.

UNFI’s net sales increased 7.9% year-over-year to a record of $2.46 billion. In the same period of the previous fiscal year, the company’s net sales were $2.28 billion. Net income for the first quarter of 2018 increased 4.4%, from $29.2 million to $30.5 million. UNFI’s earnings per diluted common share was $0.60 compared to $0.58 in the same period last year. Moreover, UNFI’s EBITDA for the first quarter of fiscal 2018 increased 4.0%, from $74.6 million to $77.5 million.

According to Steven Spinner, UNFI’s Chairman and Chief Executive Officer, the company is pleased with its strong start in the fiscal year and this is reflected in the broad-based growth across all of their significant sales channels for the fiscal first quarter. Furthermore, Mr. Spinner stated that consumer demand for their products remains robust and that they believe UNFI is well positioned for future growth.

On November 28th, 2017, I Know First issued a bullish 14-day forecast for United Natural Foods, Inc. (NASDAQ: UNFI). The forecast showed a signal of 23.65 and a predictability of 0.17. In accordance with the forecast, UNFI’s stock returned 18.81% over this period, solidifying another quick win by the I Know First algorithm.

Current I Know First subscribers received this bullish UNFI forecast on November 28th, 2017

 

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.