US Foods (NYSE:USFD) Releases FY 2024 Earnings Guidance

US Foods (NYSE:USFD) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 3.000-3.200 for the period, compared to the consensus estimate of 3.100. The company issued revenue guidance of $37.5 billion-$38.5 billion, compared to the consensus revenue estimate of $37.9 billion.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USFD. UBS Group upped their price target on shares of US Foods from $64.00 to $67.00 and gave the stock a buy rating in a research report on Friday, May 10th. BTIG Research upped their price target on shares of US Foods from $52.00 to $62.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. BMO Capital Markets reiterated an outperform rating and set a $62.00 price target (up previously from $58.00) on shares of US Foods in a research report on Friday, May 10th. Morgan Stanley boosted their price objective on US Foods from $62.00 to $64.00 and gave the stock an overweight rating in a report on Friday, May 10th. Finally, Piper Sandler boosted their price objective on US Foods from $59.00 to $61.00 and gave the stock an overweight rating in a report on Friday, June 7th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $62.00.

US Foods Stock Performance

Shares of USFD stock opened at $53.14 on Friday. The stock has a 50-day moving average of $52.94 and a 200-day moving average of $50.28. US Foods has a one year low of $35.66 and a one year high of $55.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.31 and a quick ratio of 0.81. The stock has a market cap of $13.07 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 0.88 and a beta of 1.60.

US Foods (NYSE:USFD) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $8.95 billion for the quarter, compared to analyst estimates of $8.93 billion. US Foods had a return on equity of 13.08% and a net margin of 1.41%. As a group, sell-side analysts expect that US Foods will post 2.92 earnings per share for the current year.

About US Foods

US Foods Holding Corp., together with its subsidiaries, engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations.