Traders were tucking into the shares of United Natural Foods Inc (NASDAQ:UNFI) on Thursday evening after the organic foods seller topped forecasts with quarterly results.
Net sales in the three months to January 27 increased 10.6% to US$2.53 billion from US$2.29 billion for the same period the year before, ahead of the consensus estimate of US$2.45bn.
Earnings per share for the second quarter of the retailer's fiscal year of 71 cents were comfortably ahead of the Street's consensus forecast of 55 cents.
The shares closed at US$43.74 in regular trading but advanced to US$47.10 in after-hours trading after the company raised full-year guidance.
The company now estimates net sales in the range of roughly US$10.01 billion to $10.16 billion, an increase of 8.0% to 9.5% over fiscal 2017 net sales, compared to the previous estimate of US$9.84 billion to US$10.00 billion.
The company now estimates earnings per share will fall in the range of US$3.27 to US$3.35, compared to the previous estimate of US$2.72 to US$2.80.
Traders were also crazy for stock of El Pollo Loco Holdings Inc (NASDAQ:LOCO) following the restaurant group's fourth quarter results.
Revenue rose 2.9% to US$95.2mln while adjusted underlying earnings (Ebitda) eased to US$13.4mln from US$14.3mln in the fourth quarter of 2016.
Earnings per share of 11 cents were marginally ahead of the market's expectations.
Like-for-like (LFL) sales in the fourth quarter rose 1.4% year-on-year but the restaurateur cautioned that it expects LFL sales to be flat in the current year.
The shares were 7.3% higher in screen-based trading at US$10.30.
Going the other way was Insys Therapeutics Inc (NASDAQ:INSY), the pharmaceutical cannabinoids and spray technology specialist, after it disappointed with its fourth quarter numbers.
A loss per share of 65 cents was more severe than the market had been expecting.
“In the fourth quarter, we continued our efforts to stabilize SUBSYS despite the declining market for TIRF [transmucosal immediate-release fentanyl] medications by securing several managed care wins that went into effect in January 2018,2 said Saeed Motahari, the president and chief executive officer of INSYS Therapeutics.
“We also continued our controlled roll-out of SYNDROS during the period. As a result, we intend to achieve top-line stability in 2018 in parallel with our ongoing transformation of the company,” he added.
The shares were down 11.3% at US$6.80 in screen-based trading.