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US Foods Shows Strong Results for Q3 2017

US Foods Shows Strong Results for Q3 2017


ROSEMONT, IL
Tuesday, November 7th, 2017

Foodservice distributor US Foods is showcasing a postivie return on its stratgey; the company announced its third quarter and first nine months’ earnings for 2017 and boasted strong case volume and EBITDA growth despite challenges.

Pietro Satriano, President and CEO, US Foods

“Strong volume growth with our targeted customers and adjusted EBITDA growth of over nine percent underscored our third quarter performance,” noted President and CEO Pietro Satriano in a press release. “Our Great Food. Made Easy. strategy continues to resonate with customers as demonstrated by the increased demand for our portfolio of value added services. Customer response to our most recent Scoop™ offering has been the strongest to date and highlights the continued momentum in our business.”

During the company’s third quarter, Case volume increased by 2 percent with 1 percent of that attributed to organic growth for the quarter. Case volume for independent restaurants also grew 6 percent, and 4.1 percent of that was organic.

Third quarter highlights include:

  • Total case volume increased 2.0%; independent restaurant case volume increased 6.0%
  • Net sales increased 6.2% to $6.2 billion
  • Gross profit of $1.1 billion increased 6.4%
  • Operating income of $190 million increased $75 million
  • Net income of $96 million decreased $37 million
  • Adjusted EBITDA increased 9.4% to $267 million
  • Diluted EPS of $0.42; Adjusted Diluted EPS of $0.39

US Foods

The drive from total case volume growth, product mix changes, and year-over-year inflation in center-of-the-plate and grocery categories are some of the factors enabling net sales to increase so steadily, it said in its statement. Sales from acquisitions in the last 12 months have also helped the net sales jump up 1.9 percent.

US Foods is also updating its fiscal 2017 guidance. The company now expects unit growth of 2.5 to 3 percent and net sales growth of 4.5 to 5 percent, as well as an adjusted EBITDA growth of 8 to 9 percent, and net income growth of 20 to 25 percent.

Deli Market News will continue to report with more important developments with this and other retail and foodservice distributors.

US Foods
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