United Natural Foods, Inc. Q4 2026 Earnings Recap

UNFI’s fiscal 26 fourth quarter results were broadly in line with its latest outlook, with the stock rising 1.5% after earnings. The quarter showed continued EBITDA growth and balance-sheet improvement, but underlying sales remained only low single digit, consistent with a slowly growing addressable market.

Key Takeaways

• Fourth-quarter adjusted EBITDA was $172 million, contributing to 27% full-year EBITDA growth.
• Free cash flow was $80 million in Q4 and $323 million for the full year.
• Year-end net leverage declined to 2.2x, more than one full turn below the prior year.
• Underlying sales growth was low single digit, broadly aligned with UNFI’s approximately $90 billion target addressable market, which management expects to grow at a low-single-digit rate.
• Execution initiatives included launching more than 130 private-brand SKUs, consolidating the Racine facility, expanding the Joliet distribution center with automation, and deploying AI-enabled supply-chain and procurement planning across the distribution-center network.