US Foods Q1 Results Top Estimates; Reaffirms FY24 Outlook

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US Foods Q1 Results Top Estimates; Reaffirms FY24 Outlook

(RTTNews) - Foodservice distributor US Foods Holding Corp. (USFD) on Thursday reported first-quarter net income available to common shareholders of $82 million or $0.33 per share, up from $75 million or $0.32 per share in the prior-year quarter.

Excluding one-time items, adjusted earnings for the quarter were $0.54 per share, compared to $0.50 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 4.8 percent to $8.95 billion from $8.54 billion in the same quarter last year. Analysts expected net sales of $8.91 billion for the quarter.

Looking ahead to fiscal 2024, the company continues to project adjusted earnings in a range of $3.00 to $3.20 per share on net sales between $37.5 billion and $38.5 billion. The Street is looking for earnings of $3.10 per share on net sales of $37.82 billion for the year.

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