US Foods (USFD) Tops Q1 EPS by 8c, Revenues Beat

US Foods (NYSE: USFD) reported Q1 EPS of $0.12, $0.08 better than the analyst estimate of $0.04. Revenue for the quarter came in at $6.3 billion versus the consensus estimate of $5.92 billion.

First Quarter Fiscal 2021 Highlights

• Total case volume decreased 0.9%; independent restaurant case volume increased 8.1%
• Total organic case volume decreased 6.4%; organic independent restaurant case volume increased 0.2%
• Net sales decreased 0.7% to $6.3 billion
• Gross profit decreased 5.9% to $1.0 billion
• Net loss available to common shareholders was $39 million
• Adjusted EBITDA decreased 2.8% to $172 million
• Diluted EPS loss was $0.18; Adjusted Diluted EPS was $0.12

CEO Perspective

"During the first quarter, we saw a meaningful recovery in case volume with our restaurant and hospitality customers. This momentum has continued into the early part of the second quarter as restrictions on in-person dining continue to be lifted in markets across the country," said Chairman and CEO Pietro Satriano. "Over the last 12 months, our scale and differentiated strategy have allowed us to gain market share with both large and small customers as operators continue to utilize our technology, innovative products and consultative services to help them manage their business."

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

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