US Foods beats by $0.01, beats on revs; reaffirms FY19 EPS guidance (36.79)
- Reports Q1 (Mar) earnings of $0.37 per share, $0.01 better than the S&P Capital IQ Consensus of $0.36; revenues rose 3.6% year/year to $6.03 bln vs the $5.96 bln S&P Capital IQ Consensus.
- Total case volume increased 1.4% from the prior year while independent restaurant case volume increased 5.5%, all on an organic basis.
- Adjusted Gross profit was $1.05 bln, a 3.9% increase from the prior year, driven by margin expansion initiatives and an increase in case volume. Adjusted Gross profit as a percentage of Net sales was 17.4%.
- Co reaffirms guidance for FY19, sees EPS of $2.15-$2.25 vs. $2.18 S&P Capital IQ Consensus.