United Natural Foods Reported a Significant Q1 Beat

United Natural Foods, Inc. (NYSE:UNFI) reported a significant Q1 beat, with EPS coming in at $0.97, beating the consensus estimate of $0.58. Net sales from continuing operations grew 4.7% year-over-year to $6,997 million, above the consensus estimate of $6,820 million.

While the main investor question has been around the reaffirmed guidance in light of the Q1 strength, analysts at Deutsche Bank believe management is taking a prudent approach given the uncertain macro environment, which ultimately sets up the company for further beats and raises as the year progresses.