Organic food maker,
United Natural Foods, Inc
) is all set to report its first quarter fiscal 2013 results on
November 30, 2012. The Zacks Consensus Estimate for the first
quarter is 46 cents (estimated year-over-year improvement of
14.6%) on revenues of $1.39 billion (estimated year-over-year
increase of 14.4%).
Fourth Quarter 2012 Recap
United Natural delivered fourth quarter fiscal 2012 earnings
of 51 cents per share, in line with the Zacks Consensus Estimate.
Reported earnings jumped 18.6% from the year-ago quarter, driven
by improved operational efficiency.
Net sales for the quarter increased 16.0% year over year to
$1.34 billion compared with $1.2 billion in the prior-year
quarter. Net sales came in marginally ahead of the Zacks
Consensus Estimate of $1.31 billion. The results were driven by
continuous increase in demand for the company's organic and
natural food products.
Agreement of Estimate Revisions
Over the past 30 days, 1 estimate has moved in the upward
direction for both the first quarter and for fiscal 2013. There
were 14 and 17 estimates available for first quarter and for
fiscal year, respectively. None of the estimates have been
revised downwards over that time frame. There have been no
estimate revisions over the past 7 days.
Most of the estimates were revised after the announcement of
fourth quarter results and fiscal 2013 outlook in September this
year. The company has not announced any major news since then,
which explains the stalemate in estimate revisions.
Magnitude of Estimate Revisions
Given the limited estimate revisions, the consensus estimate
for the first quarter has remained static over the last 7 as well
as 30 days at 46 cents. The consensus estimate for the fiscal
year has also remained static at $2.22 over the last 7 as well 30
United Natural has outpaced earnings estimates in two of the
past four quarters, while meeting the same in the other two. On
average, the earnings surprise is a positive 3.82% over the same
We currently have a Neutral recommendation on United Natural.
The stock carries a Zacks #3 Rank (a short-term 'Hold' rating). A
) also carries a Zacks #3 Rank.
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