US Foods Q4 Results Miss Consensus By A Whisker; FY22 EPS Outlook Lags Consensus

US Foods Holding Corp USFD reported fourth-quarter FY21 sales growth of 24.5% year-on-year, to $7.639 billion, missing the analyst consensus of $7.65 billion.
Total case volume increased 6.3%, and independent restaurant case volume rose 13%.
Gross profit increased 23.2% Y/Y to $1.2 billion with a margin of 16.3%.
Operating expenses rose 13% Y/Y to $1.1 billion. The operating margin was 1.8%, and operating income for the quarter was $137 million.
The company held $148 million in cash and equivalents as of January 1, 2022. Net cash provided by operating activities for the twelve months amounted to $419 million.
Adjusted EBITDA of $262 million increased 50.6% Y/Y.
Adjusted EPS of $0.38 missed the analyst consensus of $0.39.
Outlook: US Foods sees FY22 Adjusted EPS of $1.80 - $2.10, below the consensus of $2.39.
The company expects FY24 adjusted EPS of about ~$3.40 and adjusted EBITDA of $1.7 billion.
Price Action: USFD shares are trading lower by 0.05% at $39.26 on the last check Thursday.

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