US Foods (NYSE: USFD) reported Q1 EPS of $0.35, $0.03 better than the analyst estimate of $0.32. Revenue for the quarter came in at $5.8 billion versus the consensus estimate of $5.99 billion.

First Quarter 2018 Highlights

• Total case volume decreased 2.3%; independent restaurant case volume increased 4.3%
• Net sales increased 0.6% to $5.8 billion
• Gross profit of $992 million increased 0.1%
• Income before income taxes increased $28 million to $63 million
• Net income of $67 million increased $40 million
• Adjusted EBITDA increased 4.2% to $224 million
• Diluted EPS of $0.31; Adjusted Diluted EPS of $0.35

Outlook for Fiscal Year 2018

For fiscal year 2018 the company now expects total case volume growth of approximately 1% and Net sales growth of approximately 3%. All other fiscal year 2018 guidance numbers announced on February 15, 2018, remain unchanged including Adjusted EBITDA growth of 6-8% and Adjusted Diluted EPS of $2.00-$2.10.

GUIDANCE:

US Foods sees FY2018 EPS of $2.00-$2.10, versus the consensus of $2.05.

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