United Natural Foods(US:UNFI)2021-03-10 20:06Financial Performance - Net sales increased by 7.1% to $6.9 billion in Q2 Fiscal 2021[7] - Adjusted EBITDA increased by 57% to $206 million in Q2 Fiscal 2021, the second highest in company history[7] - Adjusted EPS increased by 400% to $1.25 in Q2 Fiscal 2021[7] - Net debt was reduced by $242 million[6] Sales Channel Performance - Chains sales increased by 8.5%[10] - Independent retailers sales increased by 6.5%[10] - Supernatural retailers sales increased by 9.0%[10] - Other sales increased by 7.2%[10] Capital Structure - Adjusted EBITDA leverage ratio improved to approximately 3.2x[7] - Secured term loan B-1 was reduced from $1.165 billion to $1.015 billion from Q1 FY21 to Q2 FY21[22] Fiscal 2021 Outlook - Net sales are projected to be $27.0 - $27.8 billion, representing a 3.3% growth at the midpoint[35] - Adjusted EBITDA is projected to be $690 - $730 million[37] - Adjusted EPS is projected to be $3.05 - $3.55[37] - Net debt reduction is expected to be approximately $250 million[37]