UNFI reported the fourth quarter of fiscal 2024 with a strong top-line performance helped by the extra 53rd week, yet profitability remained constrained by financing costs and a challenging mix. Revenue for Q4 reached $8.155 billion, up 9.95% YoY (53-week impact acknowledged), with gross profit of $1.116 billion and a gross margin of 13.68%. Adjusted EBITDA for the quarter was $143 million, marking the fourth consecutive quarter of sequential profitability improvement versus 4Q24 prior year. However, net income was negative at $37 million and GAAP EPS was -$0.63, reflecting substantial interest expense and one-time adjustments in a year of heavy capital allocations and network investments. Management outlined a multi-year plan to drive high-single-digit adjusted EBITDA growth, accelerate deleveraging toward 2.5x net debt-to-EBITDA by FY2027, and generate free cash flow around $100 million in fiscal 2025 (roughly $200 million higher than fiscal 2024). The plan hinges on: (1) a value-added strategy leveraging higher-margin natural/organic products and digital/professional services; (2) capital-light services expansion (including UMN retail media network) and a more efficient distribution network; and (3) disciplined capital allocation and working capital management to improve cash flow generation. Near-term momentum is expected to build from mid-single-digit EBITDA growth in early 2025 to a high-single-digit annual growth trajectory, supported by DC-network optimization, higher-margin product mix, and ongoing cost-savings initiatives. The company also signaled further DC rationalization (Billings and Bismarck closures completed, with potential additional actions) and emphasis on reducing working capital days to pre-pandemic levels. Overall, UNFI remains in a transition phase: it possesses a sizable addressable market, a visible path to margin expansion and deleveraging, but remains sensitive to consumer price pressure, promotions tempo, and execution risk around the multi-year network optimization program.