US Foods Q3 2022 Earnings Report
Key Takeaways
US Foods reported a strong third quarter with net sales increasing by 13.0% to $8.9 billion and Adjusted EBITDA increasing by 20.6% to $351 million. The company's performance reflects sustained positive momentum and confidence in achieving the high end of its prior adjusted outlook for the year. The Board has authorized a $500 million share repurchase program.
Net income available to common shareholders improved to $100 million.
Adjusted EBITDA increased 20.6% to $351 million.
Net sales increased 13.0% to $8.9 billion.
Total case volume increased 0.7%; independent restaurant case volume increased 2.9%.
US Foods
US Foods
Forward Guidance
The Company is updating its 2022 guidance to: Adjusted EBITDA of $1.28-$1.30 billion, Adjusted Diluted EPS of $2.10-$2.20, Interest expense of $250-$255 million, Cash capital expenditures of $270-$280 million with fleet capital leases to be an additional ~$125 million, Net Debt to Adjusted EBITDA leverage of approximately 3.5x by end of fiscal year 2022