US Meals lifted its Q3 2022 gross sales and earnings, boosted by meals value inflation, in accordance with an earnings launch. Highlights embody:
- Internet gross sales rose 13% from $7.9 billion in Q3 2021 to $8.9 billion for the quarter ending Oct. 2, 2022, pushed by meals value inflation of 12%.
- Internet revenue rose from $64 million to $109 million within the comparative quarters.
- EPS rose from 25 cents to 44 cents on a primary foundation and from 24 cents to 43 cents on a diluted foundation.
- Adjusted diluted EPS rose from 48 cents to 60 cents.
- Complete case quantity elevated 0.7% from the prior yr pushed by a 2.9% improve in unbiased restaurant case quantity, a 19.7% improve in hospitality quantity and a 2.7% improve in healthcare quantity, offset by a 6.8% lower in chain quantity.
Shares traded at $32.82 Thursday in opposition to a 52-week vary of $25.49-$39.73.
The $8.9 billion in quarterly income beat analyst expectations by $190 million, whereas the non-GAAP EPS of 60 cents missed expectations by 1 cent, in accordance with In search of Alpha.
“US Meals delivered sturdy ends in the third quarter as we proceed to execute on the three pillars of our long-range plan, which we launched earlier this yr,” Andrew Iacobucci, interim CEO, stated within the press launch.
The corporate up to date its adjusted diluted EPS to $2.10-$2.20 versus a consensus of $2.17.