US Foods Holding Corp USFD reported an increase in sales for its third quarter on Thursday.
US Foods reported third-quarter FY23 sales growth of 2.1% year-on-year to $9.106 billion, marginally missing the analyst consensus estimate of $9.107 billion. Adjusted EPS was $0.70, beating the $0.69 estimate.
US Foods raised FY23 adjusted EPS outlook to $2.60 - $2.70 from $2.55 - $2.65 versus an estimate of $2.62. The company raised adjusted EBITDA guidance to $1.54 billion - $1.56 billion (previously $1.51 billion - $1.54 billion).
US Foods shares gained 3% to trade at $42.53 on Friday.
These analysts made changes to their price targets on US Foods following earnings announcement.
- Morgan Stanley increased the price target on US Foods from $54 to $56. Morgan Stanley analyst John Glass maintained an Overweight rating.
- Truist Securities raised the price target on US Foods from $50 to $52. Truist Securities analyst Jake Bartlett maintained a Buy rating.
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