=US Foods (USFD) reported earnings on Tue 8 Nov 2016 (b/o)

US Foods beats by $0.03, misses on revs:

• Reports Q3 (Sep) earnings of $0.39 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.36; revenues rose 0.8% year/year to $5.84 bln vs the $5.9 bln Capital IQ Consensus.
  • Independent restaurant case volume grew 5.5% from the prior year, with acquisitions contributing 200 basis points to this growth. Total case volume increased 4% over last year's third quarter, of which 1.7% was organic.
• "Top line momentum and margin expansion, despite deflationary pressures, continue to demonstrate that our Great Food. Made Easy. strategy is resonating with independent restaurants and other customers. Our M&A pipeline remains strong, with two new acquisitions closed since the beginning of the fourth quarter. With the successful rollout of our new field operating model now substantially complete, we have launched two new initiatives that will contribute to EBITDA margin expansion. As a result of our strong year-to-date performance, we have increased our outlook for full year Adjusted EBITDA growth to 9-10%."