US Foods sees FY18 adj. EPS $2.00 to $2.10; FactSet consensus $2.04

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US Foods tops profit estimates but sales fall slightly short

Foodservice distributor US Foods Holding Corp. said Tuesday it had net income of $67 million, or 31 cents a share, in its fiscal first quarter to March 31, up from $27 million, or 12 cents a share, in the year-earlier period. Adjusted per-share earnings came to 35 cents, ahead of the FactSet consensus of 32 cents. Sales edged up to $5.823 billion from $5.788 billion, just below the FactSet consensus of $5.985 billion. Chief Executive Pietro Satriano said the company enjoyed solid growth with independent restaurants in the quarter, while cost cutting helped offset headwinds from weather and freight costs. The company said it still expects fiscal 2018 adjusted EPS of $2.00 to $2.10, compared with a FactSet consensus of $2.04. Shares were not yet active premarket, but have gained 17.5% in the last 12 months, while the S&P 500 has gained 11%.

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