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Jun 29, 2024
US Foods Q2 2024 Earnings Report
Net sales grew, gross profit increased, net income rose, and record adjusted EBITDA was delivered.
Key Takeaways
US Foods reported a strong second quarter with a 7.7% increase in net sales to $9.7 billion and a 7.2% increase in gross profit to $1.7 billion. Net income increased by 8.8% to $198 million, and the company achieved a record adjusted EBITDA of $489 million with a record adjusted EBITDA margin of 5.0%.
Net sales increased 7.7% to $9.7 billion.
Total case volume increased 5.2%, with independent restaurant case volume up 5.7%.
Adjusted EBITDA increased 13.2% to $489 million.
Diluted EPS increased 9.6% to $0.80; Adjusted Diluted EPS increased 17.7% to $0.93.
Forward Guidance
The Company is reiterating its Fiscal Year 2024 guidance. •Net Sales of $37.5 to $38.5 billion •Adjusted EBITDA of $1.69 to $1.74 billion •Adjusted Diluted EPS of $3.00 to $3.20
Positive Outlook
- Net Sales of $37.5 to $38.5 billion
- Adjusted EBITDA of $1.69 to $1.74 billion
- 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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