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US Foods

USFD Q4 2024 Earnings

Reported Feb 13, 2025 at 6:47 AM ET · SEC Source

Q4 24 EPS

$0.84

BEAT +5.00%

Est. $0.80

Q4 24 Revenue

$9.49B

MISS 0.07%

Est. $9.50B

vs S&P Since Q4 24

+21.1%

BEATING MARKET

USFD +39.3% vs S&P +18.2%

Full Year 2024 Results

FY 24 EPS

$3.15

BEAT +0.77%

Est. $3.13

FY 24 Revenue

$37.88B

MISS 0.02%

Est. $37.88B

Market Reaction

Did USFD Beat Earnings? Q4 2024 Results

US Foods closed out fiscal 2024 on a strong note, posting Q4 adjusted diluted EPS of $0.84, beating the $0.80 consensus estimate by 5.00%, even as revenue of $9.49 billion came in fractionally below the $9.50 billion expectation, a miss of just 0.07%… Read more US Foods closed out fiscal 2024 on a strong note, posting Q4 adjusted diluted EPS of $0.84, beating the $0.80 consensus estimate by 5.00%, even as revenue of $9.49 billion came in fractionally below the $9.50 billion expectation, a miss of just 0.07%, with sales still growing 6.2% year over year. The standout driver was broad-based volume momentum, with total case volume rising 3.5% in the quarter, led by healthcare up 4.7% and independent restaurants up 3.2%, while food cost inflation of 2.9% added further top-line lift. Adjusted EBITDA climbed 13.7% to $441.00 million, with margin expanding 30 basis points to 4.6%, even as GAAP net income fell sharply to $66.00 million due to a non-recurring $124.00 million pension termination settlement charge. The company also disclosed plans to potentially divest its CHEF'STORE business to sharpen its focus on delivered broadline operations. Looking ahead, management guided for fiscal 2025 net sales growth of 4% to 6% and adjusted diluted EPS growth of 17% to 23%, underpinned by a new three-year plan targeting a 20% adjusted diluted EPS CAGR through 2027.

Key Takeaways

  • • Total case volume increased 3.5% in Q4, including 3.2% independent restaurant growth, 4.7% healthcare growth, 2.4% hospitality growth, and 2.6% chain growth
  • • Food cost inflation of 2.9% contributed to net sales growth
  • • Improved cost of goods sold and pricing optimization drove gross profit expansion
  • • Continued distribution productivity improvement offset higher labor costs
  • • Actions to streamline administrative processes and costs
  • • Adjusted EBITDA margin expanded 30 basis points in Q4 to 4.6%
24/7 Wall St

USFD YoY Financials

Q4 2024 vs Q4 2023, source: SEC Filings

“We delivered another strong quarter which resulted in Adjusted EBITDA growth of 11.7% to a record $1.74 billion for 2024, capping off the final year of our long-range plan. We are proud to have achieved the key financial outcomes from our three-year plan, underpinned by the focused execution of our strategy.”

— Dave Flitman, Q4 2024 Earnings Press Release

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