US Foods (USFD) Tops Q3 EPS by 4c; Boosts FY16 adj.-EBITDA Growth Outlook

November 8, 2016 7:57 AM EST
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US Foods (NYSE: USFD) reported Q3 EPS of $0.39, $0.04 better than the analyst estimate of $0.35. Revenue for the quarter came in at $5.8 billion versus the consensus estimate of $5.91 billion.

Outlook for Fiscal 2016

The company is updating its outlook for fiscal 2016, raising expected Adjusted EBITDA growth to a range of 9-10% as compared to prior guidance of 8-9%. Full year Net sales are expected to be flat to slightly down compared to last year. Expected independent restaurant case volume growth remains at 6-7%. Fourth quarter results will reflect the impact of a 53rd week, which occurred in 2015 and will not take place in 2016. The 53rd week added approximately 150 bps to Net sales and 125 bps to Adjusted EBITDA in 2015.

Full year interest expense is expected to be in the range of $225-$235 million. Fiscal 2016 cash capital expenditures are expected to be in the range of $190-$200 million, and fleet capital leases are expected to be approximately $80 million. Depreciation and Amortization expense for fiscal 2016 is expected to be approximately $415-$425 million. The amount of diluted shares at the end of the fiscal year is anticipated to be approximately 225 million shares.

For earnings history and earnings-related data on US Foods (USFD) click here.



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