The Market Loves This Company After Earnings -- 3 Reasons You Should Too
Organic food distributor United Natural Foods (NYSE: UNFI) saw its stock price climb by more than 22% on Sept. 28 after it reported its fiscal fourth quarter and full fiscal 2021 results. Traders tucked in eagerly -- despite the market dropping overall that day -- and even though United Natural missed Wall Street's consensus prediction for its quarterly revenue. Here's a closer look at three of the factors driving the bullish response, and what they may mean for the company's future.
Just two years ago, United Natural was hovering on the brink of bankruptcy. However, its performance in fiscal 2021, which ended July 31, shows the extent and solidity of its turnaround. While its top-line figures weren't exactly barn-burners, with fiscal Q4 revenue dropping 0.5% year over year and full-year results rising a modest 1.5%, they were significant improvements over the company's recent situation.
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Source Fool.com
