UNITED NATURAL FOODS INC Earnings Per Share Disclosure
| (in millions, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Basic weighted average shares outstanding | 60.2 | 59.3 | 59.2 | |||||||||||||||||
| Net effect of dilutive stock awards based upon the treasury stock method | — | — | 1.5 | |||||||||||||||||
| Diluted weighted average shares outstanding | 60.2 | 59.3 | 60.7 | |||||||||||||||||
Basic (loss) earnings per share(1) | $ | (1.95) | $ | (1.89) | $ | 0.41 | ||||||||||||||
Diluted (loss) earnings per share(1) | $ | (1.95) | $ | (1.89) | $ | 0.40 | ||||||||||||||
| Anti-dilutive share-based awards excluded from the calculation of diluted (loss) earnings per share | 3.1 | 2.1 | 0.8 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 1, 2025 | Showing above |
| 2024 | Oct 1, 2024 | |
| 2023 | Sep 26, 2023 | |
| 2022 | Sep 27, 2022 | |
| 2021 | Sep 28, 2021 | |
| 2020 | Sep 29, 2020 | |
| 2019 | Oct 1, 2019 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.