US Foods Q3 Earnings Gets A Push From Case Volume Growth: Details
Portfolio Pulse from Shivani Kumaresan
US Foods Holding Corp (USFD) reported Q3 FY23 sales growth of 2.1% YoY to $9.106 billion, slightly missing the analyst consensus estimate. Total case volume rose 4%, and independent restaurant case volume grew 5.8%. The company also reported an increase in gross profit and operating expenses. Adjusted EPS was $0.70, beating the estimate. The company also announced the acquisition of Saladino's Foodservice. USFD raised its FY23 adjusted EPS outlook and adjusted EBITDA guidance. USFD shares are trading higher by 0.65% at $41.35.
November 09, 2023 | 4:57 pm
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US Foods reported a slight miss on Q3 sales but beat EPS estimates. The company also announced the acquisition of Saladino's Foodservice and raised its FY23 outlook. Shares are trading higher.
US Foods' Q3 results show a mixed picture with a slight miss on sales but a beat on EPS. The acquisition of Saladino's Foodservice could potentially boost future revenues. The raised FY23 outlook indicates management's confidence in the company's performance, which is likely driving the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100