Us Foods Holding Corp. ( (USFD) ) has released its Q3 earnings. Here is a breakdown of the information Us Foods Holding Corp. presented to its investors.
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US Foods Holding Corp., headquartered in Rosemont, Illinois, is a leading foodservice distributor in the United States, serving approximately 250,000 restaurants and foodservice operators with a wide range of food offerings and business solutions.
In its third quarter fiscal year 2024 earnings report, US Foods reported a strong performance with significant increases in net sales, gross profit, and net income despite facing a challenging macroeconomic environment and weather-related disruptions.
Key highlights from the company’s financial performance include a 6.8% increase in net sales, reaching $9.7 billion, and a gross profit rise of 8.1% to $1.7 billion. Net income saw a substantial increase of 55.8% to $148 million. Additionally, the adjusted EBITDA grew by 13.2% to $455 million, and the adjusted EBITDA margin expanded by 27 basis points. The company also repurchased $580 million worth of shares, highlighting its focus on returning value to shareholders.
The financial results reflect US Foods’ strategic execution and operational efficiencies, including a 3.8% increase in total case volume and positive momentum with independent restaurants and healthcare volumes. The company continues to manage its operating expenses effectively, maintaining a strong balance sheet while making strategic investments in technology and distribution facilities.
Looking ahead, US Foods remains optimistic about its fiscal year 2024 outlook, projecting net sales between $37.7 billion to $38.0 billion and an adjusted EBITDA range of $1.72 billion to $1.74 billion. The company remains committed to deploying its strong cash flow towards growth initiatives and shareholder returns, maintaining a disciplined approach to financial management.
