USFD - US Foods' Q1 Growth Beats Estimates Outlook Remains Appetizing | Benzinga
US Foods Holding Corp (NYSE:USFD) shares are trading higher after the company reported first-quarter FY24 sales growth of 4.8% year-on-year to $8.95 billion, beating the analyst consensus estimate of $8.91 billion.
Total case volume rose 4.2%, and independent restaurant case volume grew 4.6%. Gross profit increased 4.9% Y/Y to $1.5 billion with a profit margin of 16.7%.
Operating expenses rose 7.4% Y/Y to $1.3 billion. The operating margin was 1.8%, and the operating income declined to $165 million.