United Natural Foods, Inc. (UNFI) Presents at UBS Global Consumer and Retail Conference Transcript

SA Transcripts158.94K FollowersFollow5ShareSaveCommentsQ2: 2026-03-10 Earnings SummaryInsightsTranscript InsightsPlay CallPlay CallTranscriptEPS of $0.62 beats by $0.11 | Revenue of $7.95B (-2.59% Y/Y) misses by $161.33M United Natural Foods, Inc. (UNFI) UBS Global Consumer and Retail Conference March 12, 2026 8:00 AM EDT Company Participants Giorgio Tarditi - President & CFO Conference Call Participants Mark Carden - UBS Investment Bank, Research Division Presentation Mark CardenUBS Investment Bank, Research Division All right. Good morning, everyone. I am Mark Carden, the North American food retail and food distribution analyst from UBS. We are super excited to have UNFI with us today. UNFI is one of the largest grocery distributors in North America with over $31 billion in revenue in 2025. Joining us today is Matteo Tarditi, the company's Chief Financial Officer. He joined the company in early 2024, after spending more than 26 years at GE where he served as CFO for 7 business units. Matteo, we really appreciate you spending time with us today. And with that, why don't I pass it over to you for some opening remarks, and we can dive into some questions. Giorgio TarditiPresident & CFO Great. Thanks, Mark, and thanks for having us today, and appreciate the interest in UNFI. So before we start, just a quick housekeeping item. For those of you who listen in, there are a number of financial schedules and detailed results from our Q2 earnings on our website. So feel free to go and access those data. Let me start with 3 quick comments and then we get into the Q&A. So first of all, the disciplined execution of our strategy, including the network optimization, is clearly generating EBITDA expansion, cash flow generation and accelerated deleverage. So all moving to the positive direction. In the second quarter alone, we grew EBITDA by 23%. We generated more than $240 million of free cash flow. And we reduced our leverage to 2.7 turns. So good outcomes there.