US Foods (NYSE: USFD) reported Q2 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenue for the quarter came in at $6.2 billion versus the consensus estimate of $6.03 billion.

Outlook for Fiscal 2017

The company is updating select elements of fiscal 2017 guidance. We now expect Net sales growth of 3-5%, interest expense of $175-$180 million, cash taxes of $20-$25 million and Adjusted Diluted EPS of $1.30-$1.40. All other elements of the company’s guidance provided during the Q4 fiscal 2016 earnings call on February 15, 2017, remain unchanged.

Second Quarter Highlights

• Total case volume increased 3.6%; independent restaurant case volume increased 4.7%.
• Net sales increased 6.1% to $6.2 billion.
• Gross profit of $1.1 billion increased 1.9%.
• Operating income of $126 million increased $28 million.
• Net income of $65 million improved $78 million from a 2016 Net loss of $13 million.
• Adjusted EBITDA increased 10.0% to $286 million.
• Diluted EPS of $0.29; Adjusted Diluted EPS of $0.37.

GUIDANCE:

US Foods sees FY2017 EPS of $1.30-$1.40, versus the consensus of $1.34.

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