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Jul 02, 2022
US Foods Q2 2022 Earnings Report
Announced results for the second quarter fiscal year 2022, showing increased net sales and adjusted EBITDA.
Key Takeaways
US Foods reported a 15.2% increase in net sales, reaching $8.8 billion, and a 10.8% increase in Adjusted EBITDA to $368 million. Diluted EPS was $0.27, while Adjusted Diluted EPS reached $0.67. The company reaffirms its 2022 guidance for Adjusted EBITDA and Adjusted Diluted EPS.
Net income available to common shareholders improved to $61 million.
Adjusted EBITDA increased 10.8% to $368 million.
Net sales increased 15.2% to $8.8 billion.
Total case volume and independent restaurant case volume were flat.
Forward Guidance
The Company reaffirms its 2022 guidance.
Positive Outlook
- Adjusted EBITDA of $1.2-$1.3 billion, with continued confidence toward the higher end of the Adjusted EBITDA range
- Adjusted Diluted EPS of $1.95-$2.25
- Cash capital expenditures of $280-$300 million with fleet capital leases to be an additional ~ $110 million
- Net Debt to Adjusted EBITDA leverage of approximately 3.5x by end of fiscal year 2022
Challenges Ahead
- The company is adjusting the outlook for interest expense in 2022 and now expects it to be $245-$255 million as a result of the Federal Reserve's interest rate increases.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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