<p><strong>美国食品控股公司</strong> (NYSE: USFD) 的股票在周四下跌，此前该食品服务分销商发布了 2026 财年第一季度业绩。</p>
<h2><strong>季度详细信息</strong></h2>
<p>该公司报告第一季度调整后每股收益为 78 美分，低于分析师一致预期的 81 美分。季度销售额为 96.10 亿美元（+2.8%），未能达到市场预期的 96.47 亿美元。</p>
<p>在审查的季度中，总案例量增加了 1.4%，而独立餐厅案例量增加了 4.6%。</p>
<p>医疗保健量增长了 3.7%，酒店业务量增加了 5%，部分被连锁业务量下降 2.3% 所抵消。</p>
<p>毛利润增加了 2.4%，达到 17 亿美元。增长放缓部分是由于 3300 万美元的不利 LIFO 库存调整。</p>
<p>调整后的毛利润为 17 亿美元，比去年增加 7200 万美元，增幅为 4.4%。调整后的毛利润占净销售额的 17.6%。</p>
<p>调整后的 EBITDA 为 4.13 亿美元，比去年增长 6.2%。调整后的 EBITDA 利润率为 4.3%，增加了 14 个基点。</p>
<p>2026 财年第一季度的经营活动现金流为 2.94 亿美元，比去年减少 9700 万美元。</p>
<p>美国食品在季度末持有现金及现金等价物 4900 万美元。</p>
<h2><strong>高管评论</strong></h2>
<p>首席执行官 <strong>戴夫·弗利特曼</strong> 表示，尽管 “宏观环境恶化和天气相关的干扰”，公司加速了独立餐厅案例的增长并获得了市场份额。他补充说，随着季度后期天气条件的正常化，势头有所改善。</p>
<p>首席财务官 <strong>迪尔克·洛卡西奥</strong> 表示，公司继续受益于支持利润扩张和相对 EBITDA 增长的自助措施。</p>
<p>天气相关的干扰和高企的燃料成本使调整后的 EBITDA 增长减少了约四个百分点。在财报电话会议上，管理层指出，这些因素，加上每个案例的运营费用增加，给第一季度带来了压力，尽管随后有所正常化。</p>
<p>管理层提到，严峻的天气、中东冲突、燃料成本上升和消费者信心减弱（在 3 月降至历史低点）等因素对行业造成了压力。</p>
<h2><strong>美国食品展望</strong></h2>
<p>美国食品确认其 2026 财年调整后每股收益指导区间为 4.70 美元至 4.93 美元，而分析师预期为 4.78 美元。</p>
<p>该公司确认其 2026 财年销售展望为 410.01 亿美元至 417.89 亿美元，而市场预期为 416.05 亿美元。</p>
<p><strong>USFD 价格动态：</strong> 根据 Benzinga Pro 的数据，美国食品的股票在周四发布时下跌了 5.28%，报 87.19 美元。</p>
<p><em>图片来源于 Shutterstock</em></p>

USFD

<p>US Foods Holding Corp.（纽约证券交易所代码：USFD）在发布 2026 年第一季度业绩后，股价出现下滑，调整后的每股收益为 78 美分，低于预期的 81 美分。销售额达到 96.10 亿美元，同比增长 2.8%，但低于预期的 96.47 亿美元。总案例量增长了 1.4%，独立餐厅的销售量增长了 4.6%。毛利润增加了 2.4%，达到 17 亿美元，但受到 3300 万美元不利的后进先出库存调整的影响。调整后的毛利润同比增长 4.4%，占净销售额的 17.6%</p>

<p><strong>US Foods Holding Corp.</strong> (NYSE: USFD) stock slipped on Thursday after the foodservice distributor reported first-quarter 2026 results.</p>
<div class="lb-trans"><p><strong>美国食品控股公司</strong> (NYSE: USFD) 的股票在周四下跌，此前该食品服务分销商发布了 2026 财年第一季度业绩。</p>
</div><h2><strong>Quarter In Detail</strong></h2>
<div class="lb-trans"><h2><strong>季度详细信息</strong></h2>
</div><p>The company reported first-quarter adjusted earnings per share of 78 cents, missing the analyst consensus estimate of 81 cents. Quarterly sales of $9.610 billion (+2.8%) missed the Street view of $9.647 billion.</p>
<div class="lb-trans"><p>该公司报告第一季度调整后每股收益为 78 美分，低于分析师一致预期的 81 美分。季度销售额为 96.10 亿美元（+2.8%），未能达到市场预期的 96.47 亿美元。</p>
</div><p>In the quarter under review, total case volume increased 1.4%, while independent restaurant case volume increased 4.6%.</p>
<div class="lb-trans"><p>在审查的季度中，总案例量增加了 1.4%，而独立餐厅案例量增加了 4.6%。</p>
</div><p>Healthcare volume rose 3.7% and hospitality volume increased 5%, partially offset by a 2.3% decline in chain volume.</p>
<div class="lb-trans"><p>医疗保健量增长了 3.7%，酒店业务量增加了 5%，部分被连锁业务量下降 2.3% 所抵消。</p>
</div><p>Gross profit increased 2.4% to $1.7 billion. The growth slowed partly because of a $33 million unfavorable LIFO inventory adjustment.</p>
<div class="lb-trans"><p>毛利润增加了 2.4%，达到 17 亿美元。增长放缓部分是由于 3300 万美元的不利 LIFO 库存调整。</p>
</div><p>Adjusted gross profit was $1.7 billion, an increase of $72 million, or 4.4% from the prior year. Adjusted gross profit as a percentage of net sales was 17.6%.</p>
<div class="lb-trans"><p>调整后的毛利润为 17 亿美元，比去年增加 7200 万美元，增幅为 4.4%。调整后的毛利润占净销售额的 17.6%。</p>
</div><p>Adjusted EBITDA of $413 million, increased by 6.2% from the prior year. Adjusted EBITDA margin was 4.3%, an increase of 14 basis points.</p>
<div class="lb-trans"><p>调整后的 EBITDA 为 4.13 亿美元，比去年增长 6.2%。调整后的 EBITDA 利润率为 4.3%，增加了 14 个基点。</p>
</div><p>Cash flow provided by operating activities for the first three months of fiscal year 2026 was $294 million, a decrease of $97 million from the prior year.</p>
<div class="lb-trans"><p>2026 财年第一季度的经营活动现金流为 2.94 亿美元，比去年减少 9700 万美元。</p>
</div><p>US Foods exited the quarter with cash and equivalents worth $49 million.</p>
<div class="lb-trans"><p>美国食品在季度末持有现金及现金等价物 4900 万美元。</p>
</div><h2><strong>Executive Commentary</strong></h2>
<div class="lb-trans"><h2><strong>高管评论</strong></h2>
</div><p>CEO <strong>Dave Flitman</strong> said the company accelerated independent restaurant case growth and gained market share despite &#34;a deteriorating macro environment and weather-related disruptions.&#34; He added that momentum improved as weather conditions normalized later in the quarter.</p>
<div class="lb-trans"><p>首席执行官 <strong>戴夫·弗利特曼</strong> 表示，尽管 “宏观环境恶化和天气相关的干扰”，公司加速了独立餐厅案例的增长并获得了市场份额。他补充说，随着季度后期天气条件的正常化，势头有所改善。</p>
</div><p>Chief Financial Officer <strong>Dirk Locascio</strong> said the company continued to benefit from self-help initiatives that supported margin expansion and faster adjusted earnings growth relative to EBITDA growth.</p>
<div class="lb-trans"><p>首席财务官 <strong>迪尔克·洛卡西奥</strong> 表示，公司继续受益于支持利润扩张和相对 EBITDA 增长的自助措施。</p>
</div><p>Weather-related disruptions and elevated fuel costs reduced adjusted EBITDA growth by approximately four percentage points. During the earnings call, management noted that these factors, combined with increased operating expenses per case, pressured the first quarter despite subsequent normalization.</p>
<div class="lb-trans"><p>天气相关的干扰和高企的燃料成本使调整后的 EBITDA 增长减少了约四个百分点。在财报电话会议上，管理层指出，这些因素，加上每个案例的运营费用增加，给第一季度带来了压力，尽管随后有所正常化。</p>
</div><p>Management cited headwinds from severe weather, the conflict in the Middle East, rising fuel costs, and weakening consumer sentiment, which fell to a record low in March, as factors that weighed on the industry.</p>
<div class="lb-trans"><p>管理层提到，严峻的天气、中东冲突、燃料成本上升和消费者信心减弱（在 3 月降至历史低点）等因素对行业造成了压力。</p>
</div><h2><strong>US Foods Outlook</strong></h2>
<div class="lb-trans"><h2><strong>美国食品展望</strong></h2>
</div><p>US Foods affirmed its fiscal 2026 adjusted earnings per share guidance range of $4.70 to $4.93, compared with the analyst estimate of $4.78.</p>
<div class="lb-trans"><p>美国食品确认其 2026 财年调整后每股收益指导区间为 4.70 美元至 4.93 美元，而分析师预期为 4.78 美元。</p>
</div><p>The company affirmed its fiscal 2026 sales outlook of $41.001 billion to $41.789 billion, versus the Street estimate of $41.605 billion.</p>
<div class="lb-trans"><p>该公司确认其 2026 财年销售展望为 410.01 亿美元至 417.89 亿美元，而市场预期为 416.05 亿美元。</p>
</div><p><strong>USFD Price Action:</strong> US Foods shares were down 5.28% at $87.19 at the time of publication on Thursday, according to Benzinga Pro data.</p>
<div class="lb-trans"><p><strong>USFD 价格动态：</strong> 根据 Benzinga Pro 的数据，美国食品的股票在周四发布时下跌了 5.28%，报 87.19 美元。</p>
</div><p><em>Photo via Shutterstock</em></p>
<div class="lb-trans"><p><em>图片来源于 Shutterstock</em></p>
</div>

US Foods 在艰难的季度中面临恶劣天气、消费疲软和燃料通胀的挑战