(RTTNews) - US Foods Holding Corp. (USFD), a food service distributor, Thursday announced that its net income declined in the fourth quarter, compared to the prior year, despite higher net sales. The result reflects the one-time net actuarial loss for pension settlement of $124 million in the fourth quarter.
For the fourth quarter, net income dropped to $66 million from $147 million last year.
Earnings per share was $0.28, compared to $0.59, in the previous year.
However, Adjusted net income increased to $197 million from $160 million the previous year.
Adjusted earnings per share also came in higher at $0.84 versus $0.64 last year's quarter. Analysts, on average, had expected the company to earn $0.71 per share. Analysts' estimates typically exclude special items.
Net sales increased 6.2 percent to $9.49 billion, compared to $8.936 billion a year ago.
For the fiscal year 2025, the company expects net sales growth of 4 percent to 6 percent.
The company anticipates adjusted EBITDA to grow between 8 percent to 12 percent.
The adjusted earnings per share is expected to grow between 17 percent to 23 percent.
On Wednesday, US Foods had closed 0.32% higher at $69.91 on the New York Stock Exchange.
In the pre-market trading, US Foods is 2.03% up at $71.33 on the New York Stock Exchange.
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