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US Foods reported a strong first quarter in fiscal year 2023, with net sales reaching $8.5 billion, a 9.5% increase from Q1 2022. Adjusted EBITDA grew by 40% to $337 million, and the adjusted EBITDA margin expanded by 80 bps. The company reaffirmed its full-year guidance.
Net sales increased by 9.5% to $8.5 billion.
Adjusted EBITDA increased by 39.8% to $337 million.
Total case volume increased by 5.7%, with independent restaurant case volume up by 8.1%.
Gross profit increased by 19% to $1.4 billion.
The Company is reaffirming its fiscal year 2023 guidance provided on February 16, 2023.