USFD - US Foods reports mixed Q3 earnings; updates FY22 guidance
- US Foods press release ( NYSE: USFD ): Q3 Non-GAAP EPS of $0.60 misses by $0.01 .
- Revenue of $8.9B (+12.7% Y/Y) beats by $190M .
- Total case volume increased 0.7%; independent restaurant case volume increased 2.9%
- Gross profit increased 17.6% to $1.5B.
- Adjusted EBITDA increased 20.6% to $351M.
- The company is updating its 2022 guidance to: Adjusted EBITDA of $1.28-$1.30 billion; Adjusted Diluted EPS of $2.10-$2.20 vs. consensus of $2.17; Interest expense of $250-$255 million; Cash capital expenditures of $270-$280 million with fleet capital leases to be an additional ~$125 million; Net Debt to Adjusted EBITDA leverage of approximately 3.5x by end of fiscal year 2022.
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US Foods reports mixed Q3 earnings; updates FY22 guidance