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Apr 03, 2021
US Foods Q1 2021 Earnings Report
US Foods experienced a mixed first quarter with decreased net sales and gross profit, but saw recovery in case volume with restaurant and hospitality customers.
Key Takeaways
US Foods reported a decrease in net sales by 0.7% to $6.3 billion and a decrease in gross profit by 5.9% to $1.0 billion for the first quarter of fiscal 2021. The company experienced a net loss of $39 million. Adjusted EBITDA decreased by 2.8% to $172 million. However, there was a meaningful recovery in case volume with restaurant and hospitality customers.
Total case volume decreased 0.9%; independent restaurant case volume increased 8.1%.
Total organic case volume decreased 6.4%; organic independent restaurant case volume increased 0.2%.
Net sales decreased 0.7% to $6.3 billion.
Adjusted EBITDA decreased 2.8% to $172 million.
Forward Guidance
Due to the continued uncertainty associated with COVID-19 and the timing of a recovery, the company is not providing financial guidance for fiscal 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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