One of the United States’ largest foodservice companies—US Foods Holding Company—is reaping the rewards of its new sales strategy; the company has announced robust growth across the board this quarter—beating expectations and growing both its core business and its profits.
“We had a strong year and delivered on our commitments to expand gross profit dollars and grow adjusted EBITDA,” said Chairman and CEO Pietro Satriano, in a press release. “Through the continued execution of our Great Food. Made Easy. strategy, we increased sales with our targeted customers, including accelerating quarterly volume growth with independent restaurants. In 2018, we will continue to leverage our innovative products, industry-leading technology, and value-added services to drive profitable growth.”
Highlights from the company’s fourth quarter 2017 report include:
On a less auspicious note, US Foods also noted that the company expects year-over-year adjusted EBITDA growth to be approximately 100 basis points below the low end of the range for Q1 2018, and the company attributed this decline in expectations to poor weather conditions and timing of the New Year’s holiday.
US Foods expects EBITDA growth to accelerate throughout 2018, though, and announced that it has raised its mid-term target for adjusted EBITDA growth from 7-10% to 8-10%.
The company also announced highlights for the entirety of its 2017 fiscal year, including:
To read more about US Foods’ Q4, see the company’s fiscal earnings report in its entirety here.
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