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- US Foods Holdings Corp USFD reported fourth-quarter FY22 sales growth of 11.5% year-on-year to $8.52 billion, missing the consensus of $8.53 billion,
- Total case volume rose 2.6% and independent restaurant case volume grew 5.8%.
- Gross profit increased 17.1% Y/Y to $1.5 billion with a profit margin of 17.1%.
- Operating expenses rose 13.8% Y/Y to $1.3 billion. Operating margin was 2.3%, and the operating income improved to $196 million.
- The company held $211 million in cash and equivalents as of Dec. 31, 2022. Net cash provided by operating activities for the year amounted to $765 million.
- Adjusted EBITDA of $350 million, increased 33.6% Y/Y.
- Adjusted EPS was $0.55, beating the $0.53 estimate.
- Outlook: US Foods sees FY23 adjusted EPS of $2.45 - $2.65 versus the consensus of $2.65.
- USFD sees Adjusted EBITDA of $1.45 billion- $1.51 billion.
- Price Action: USFD shares are trading higher by 5.07% at $38.83 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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