Shares of United Natural Foods Inc. were falling 2.5% in premarket trading Wednesday after the distributor of natural and organic foods posted a mixed earnings report. United Natural Foods generated $66 million, or $1.07 a share, in net income for its fiscal first quarter, down from $76 million, or $1.25 a share, a year before. On an adjusted basis, the company saw earnings per share of $1.13, up from $1.10 in the year-earlier period but below the FactSet consensus, which was for $1.16. Net sales grew to $7.53 billion from $7.00 billion, while analysts had been modeling $7.48 billion. The company reaffirmed its prior outlook for the full fiscal year. “We are leveraging our scale, diversification, and capabilities to enhance connectivity between customers and suppliers, finding unique ways to create more value for both,” Chief Executive Sandy Douglas said in a release. Shares have lost 7% over the past 12 months as the S&P 500 has fallen 16%.
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