US Foods earnings for the first quarter of 2019 have USFD stock heading higher on Tuesday.
US Foods (NYSE:USFD) reported earnings per share of 37 cents for the first quarter of the year. This is better than the company’s earnings per share of 35 cents from the same time last year. It was also a boon to USFD stock by beating out Wall Street’s earnings per share estimate of 36 cents for the quarter.
The US Foods earnings report for the first quarter of 2019 also has it bringing in net income of $71 million. That’s up from the company’s net income of $67 million reported in the first quarter of 2018.
Operating income reported in the US Foods earnings report for the first quarter of the year comes in at $131 million. This is an increase over the company’s operating income of $103 million reported in the same period of the year prior.
US Foods earnings for the first quarter of 2019 also includes revenue of $6.03 billion. This is an improvement over the company’s revenue of $5.82 billion reported in the first quarter of the previous year. It was also a blessing to USFD stock by coming in above analysts’ revenue estimate of $5.94 billion for the period.
US Foods notes that there were a few factors that resulted in its higher revenue for the first quarter. Among these reasons are “year-over-year inflation in poultry, produce and grocery items and an increase in case volume.”
USFD stock was up 3% as of Tuesday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.