US Foods up after Q2 profit beat

US Foods Holding

11/08/2023 15:50

** Shares of food distributor US Foods Holding  USFD.N  edge
up ~1 to $41.35
    ** On Thursday, co raised fiscal 2023 adjusted EBITDA
forecast to $1.51 bln to $1.54 bln, versus prior outlook of
$1.45 bln to $1.51 bln
    ** Q2 adjusted EPS of 79 cents/share tops average estimate
of 76 cents/share - Refinitiv
    ** At least five brokerages raise PT on stock
    ** BTIG says investors should focus on USFD's gross profit
and EBITDA margins, which have returned to 2019 levels as
logistics and fuel costs ease
    ** Trust Securities believes USFD will have stronger case
organic growth than pre-COVID, benefiting from market share
gains, growth in cash & carry business, and fewer exits in
healthcare, hospitality and chain segments
    ** Q2 adjusted net income rose to $199 mln, versus $169 mln
last year
    ** Still, Q2 net sales of $9.01 bln miss estimates of $9.38
bln
    ** Stock up 21% YTD at last close

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))