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Mar 30, 2024
US Foods Q1 2024 Earnings Report
US Foods' first quarter results for fiscal year 2024 were reported, featuring a 4.8% increase in net sales, a 4.9% rise in gross profit, and a 6% growth in Adjusted EBITDA.
Key Takeaways
US Foods reported a 4.8% increase in net sales to $8.9 billion and a 4.9% increase in gross profit to $1.5 billion. Net income reached $82 million, while Adjusted EBITDA grew by 6% to $356 million. The company reaffirmed its fiscal year 2024 guidance and closed the acquisition of IWC Food Service in April.
Net sales increased by 4.8% to $8.9 billion.
Total case volume increased by 4.2%, with independent restaurant case volume up by 4.6%.
Gross profit increased by 4.9% to $1.5 billion.
Adjusted EBITDA increased by 5.6% to $356 million.
Forward Guidance
The Company is reaffirming its Fiscal Year 2024 guidance provided on February 15, 2024, including Net Sales of $37.5 to $38.5 billion, Adjusted EBITDA of $1.69 to $1.74 billion, and Adjusted Diluted EPS of $3.00 to $3.20.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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