Food Cost Inflation Drives US Foods Holding's Q2 Performance - Read More For Details - US Foods Hldg (NYSE:USFD)

US Foods Holding Corp USFD reported second-quarter FY22 sales growth of 15.2% year-on-year to $8.83 billion, beating the consensus of $8.74 billion.
The company attributed the net sales growth to the food cost inflation of 15% compared to the same quarter a year ago.
Total case volume and independent restaurant case volume were flat.
Gross profit increased 18.3% Y/Y to $1.4 billion with a profit margin of 15.7%.
Operating expenses rose 18% Y/Y to $1.2 billion. The operating margin was 1.7%, and operating income for the quarter was $150 million.
The company held $197 million in cash and equivalents as of July 2, 2022. Net cash provided by operating activities for six amounted to $259 million.
Adjusted EBITDA of $368 million increased 10.8%, and the margin contracted 10 basis points to 4.2%.
Adjusted EPS was $0.67 versus $0.58 last year.
Outlook: US Foods sees FY22 adjusted EPS of $1.95 - $2.25. Adjusted EBITDA of $1.2 billion - $1.3 billion.
Price Action: USFD shares are trading higher by 0.74% at $32.54 on the last check Thursday.
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