US Foods Holding’s share in pre-conference trading fell 4.3% as the food distribution company reported lower-than-expected fourth-quarter earnings as sales costs outpaced growth and its prospects for the year disappointed.
The company posted a net profit of $ 59 million, or 26 cents a share, compared with a loss of $ 23 million, or 11 cents a share, a year ago.
Excluding the extraordinary, adjusted earnings per share rose to 38 cents from 10 five, but were lower than estimates for 39 five.
Sales rose 24.5% to $ 7.64 billion, compared to estimates for $ 7.60 billion, while sales costs rose 24.7%.
The company stressed that the increase in sales benefited from the increased volume and from the increases in the traffic of restaurants and business trips.
For 2022, it expects adjusted earnings per share of $ 1.80-2.10, lower than the estimates for $ 2.46.
Source: Capital
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