US Foods Q4 Net Profit Surges; Guides FY24 Adj. EPS Below Estimates

(RTTNews) - Foodservice distributor US Foods Holding Corp. (USFD) on Thursday reported fourth-quarter net income available to common shareholders of $147 million or $0.59 per share, up from $83 million or $0.37 per share in the prior-year quarter. Excluding one-time items, adjusted earnings for the quarter were $0.64 per share, compared to $0.55 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 4.9 percent to $8.94 billion from $8.52 billion in the same quarter last year. Analysts expected net sales of $8.79 billion for the quarter.

Looking ahead to fiscal 2024, the company now projects adjusted earnings in a range of $3.00 to $3.20 per share on net sales between $37.5 billion and $38.5 billion. The Street is looking for earnings of $3.23 per share on net sales of $37.32 billion for the year.

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