US Foods Reports First Quarter Fiscal 2019 Earnings

US Foods Reports First Quarter Fiscal 2019 Earnings

Thursday, May 9th, 2019

After recently announcing the latest executive addition to its team, US Foods put out the results for the first quarter of fiscal 2019.

Pietro Satriano, President and CEO, US Foods“Our first quarter fiscal 2019 results were in line with our expectations,” said Chairman and CEO Pietro Satriano. “We accelerated case volumes across all customer types and are particularly pleased with our 5.5% organic independent restaurant case growth rate, our best quarter since third quarter fiscal 2016. We expanded our adjusted operating leverage per case for the 13th quarter in a row, resulting in Adjusted EBITDA growth of 3.6%. We remain favorable on the overall industry outlook and expect to deliver the full year fiscal 2019 guidance targets that we discussed on our fourth quarter call.”

US Foods reported its best quarter results since fiscal 2016

Highlights from the financial report included:

  • Total case volume increased 1.4%; independent restaurant case volume increased 5.5%
  • Net sales increased 3.6% to $6.0 billion
  • Gross profit increased 6.0% to $1,052 million
  • Income before income taxes increased $28 million to $91 million
  • Net income increased $4 million to $71 million
  • Adjusted EBITDA increased 3.6% to $232 million
  • Diluted EPS increased 3.2% to $0.32; Adjusted Diluted EPS increased 5.7% to $0.37

For the entirety of the financial report, click here.

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US Foods