One of the largest foodservice distributors in the nation, US Foods, announced results for the first quarter of its 2017 fiscal year. The company noted growth across a range of criteria and attributed this growth to a disciplined and targeted approach to business.
“Our business delivered solid results in the first quarter of fiscal 2017,” said President and CEO Pietro Satriano, in a press release. “Solid volume growth with our targeted customer types helped us deliver Net sales growth of 3.5%, and our disciplined focus on improving profitability led to Adjusted EBITDA growth of over 6% against a strong fiscal 2016 first quarter.”
Highlights of the report include:
“Our M&A pipeline remains active, and the two new acquisitions closed in the first quarter provide opportunities to increase our independent restaurant share and center of the plate capabilities in protein,” added Satriano. “We are confident that the continued execution of our strategy will drive solid results as the year progresses.”
The company noted no changes in its outlook for fiscal 2017.
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