US Foods reports Q3 adjusted EPS 85c, consensus 83c

Reports Q3 revenue $9.7B, consensus $9.72B. “We delivered strong results in Q3 despite the softer macro environment and weather-related challenges which pressured industry case volumes,” said CEO Dave Flitman. “We executed our strategy-driven operating model to deliver top line growth, a double-digit Adjusted EBITDA increase and margin expansion. Our team-based go-to-market approach, proven operational playbook and leading digital solutions enabled our 14th consecutive quarter of market share gains with independent restaurants…I want to thank all of our 30,000 associates for their dedication to our customers and communities during these challenging times”. “We delivered another strong quarter of Adjusted EBITDA and grew Adjusted Gross Profit faster than Adjusted Operating Expense,” added Dirk Locascio, CFO. “In the face of the softer macro backdrop, we continue to grow sales, expand margins and deploy our strong free cash flow. Additionally, we allocated $580M of capital during the quarter toward share repurchases while maintaining a strong balance sheet. We will continue to take a disciplined approach to executing our share repurchase program.”