US Foods Q2 Earnings Beat, Stock Hits 52-Week High on Restaurant Demand
USFD sits 52% above its 52-week low of $69.875.
Summary
US Foods delivered a strong Q2, with adjusted EPS of $1.44 beating the $1.36 consensus and revenue of $10.53B topping estimates. Independent restaurant case volume grew 5.1%, driving a 10.2% jump in adjusted EBITDA to a record $604 million. The company bought back $374 million in shares and reaffirmed full-year guidance, including adjusted EPS of $4.70-$4.93. Shares surged 6.88% to a new 52-week high, reflecting confidence in the restaurant recovery. The balance sheet also improved, with leverage ticking down to 2.6x. This follows the 8-K filed this morning, adding analyst beats and the market's bullish reaction.
At the time of this announcement, USFD was trading at $106.55 on NYSE in the Trade & Services sector, with a market capitalization of approximately $23.5B. The 52-week trading range was $69.88 to $110.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.