US Foods' Q1 Growth Beats Estimates, Outlook Remains Appetizing
Portfolio Pulse from Shivani Kumaresan
US Foods Holding Corp (NYSE:USFD) reported Q1 FY24 sales growth of 4.8% Y/Y to $8.95 billion, surpassing analyst estimates. Adjusted EPS was $0.54, beating expectations. The company reaffirmed its FY24 outlook, expecting adjusted EPS of $3.00-$3.20 and revenue of $37.5-$38.5 billion. Shares rose 4.98% to $54.99. US Foods also completed the acquisition of IWC Food Service for about $220 million.
May 09, 2024 | 3:09 pm
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US Foods reported a strong Q1 FY24 with sales and adjusted EPS beating estimates, reaffirmed its FY24 outlook, and completed a significant acquisition. Shares rose 4.98%.
The positive earnings report and the completion of a strategic acquisition indicate strong operational performance and growth prospects for US Foods, likely leading to increased investor confidence and a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100