Foodservice distributor US Foods has reported that net sales of $19bn for the first nine months of fiscal 2019 increased by 4.8% compared with 2018.

The rise was primarily due to the rise in organic case volume and year-over-year inflation in various product categories, including grocery, poultry and beef.

During this period, gross profits of $3.4bn increased $136m or 4.2%, from the prior year and gross profit as a percentage of net sales stood at 17.6%.

Net income for the first nine months was $293m, representing a $14m decline from the previous year.

Meanwhile, US Foods reported a gross profit of $1.2bn increased $48m or 4.3% for the third quarter of fiscal 2019, compared with 2018.

Gross profit as a percentage of net sales was 17.7%, while adjusted gross profit was $1.2bn, a 5.3% rise compared to last year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Net income during this quarter decreased by $8m and stood at $106m, due to increased income tax and operating expenses.

US Foods chairman and CEO Pietro Satriano said: “Our focus on profitable growth enabled us to deliver strong organic Adjusted EBITDA growth of 6.7% for the quarter.

“We also delivered organic independent restaurant case growth of 4.2% as we continue to gain share with this target customer group.”

Total case volume for the first nine months increased 2% from the previous year and independent restaurant case volume rose 5.5%.

For the first nine months, net cash provided by operating activities stood at $559m, an increase of $115m from the prior year and cash capital expenditures totalled $157m.

At the end of the third quarter of fiscal 2019, net debt was $4.8bn, which represented an increase of $1.5bn compared to fiscal 2018.