Company reports strong Q3 performance despite food cost deflation
- US Foods reported Q3 profit that exceeded expectations
- Adjusted earnings per share rose to 70 cents, beating the consensus of 69 cents
- Sales grew 2.1% despite food cost deflation
- Case volume increased by 4.0%
- US Foods raised its adjusted EPS guidance for 2023
US Foods Holding Corp. reported a third-quarter profit that exceeded expectations and raised its full-year outlook. Despite food cost deflation, the company saw a 2.1% increase in sales, driven by a 4.0% increase in case volume. Adjusted earnings per share rose to 70 cents, beating the consensus of 69 cents. US Foods also raised its adjusted EPS guidance for 2023. Overall, the company’s strong performance demonstrates its ability to navigate challenging market conditions.
Factuality Level: 8
Factuality Justification: The article provides specific financial information about US Foods Holding Corp’s third-quarter profit, net income, adjusted earnings per share, and sales. The information is supported by data from FactSet. However, the article does not contain any additional context or analysis, which could have provided a more comprehensive understanding of the company’s performance.
Noise Level: 6
Noise Justification: The article provides relevant information about US Foods Holding Corp’s third-quarter profit and its adjusted earnings per share. It also includes details about the company’s sales growth and its raised guidance for 2023. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It also does not explore the consequences of the company’s decisions on those who bear the risks.
Financial Relevance: Yes
Financial Markets Impacted: US Foods Holding Corp. is a foodservice distributor, so the financial markets impacted would include the foodservice industry and related sectors.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article does not mention any extreme events or events that would have a significant impact on financial markets or companies.
Public Companies: US Foods Holding Corp. (USFD)
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