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Jun 27, 2020
US Foods Q2 2020 Earnings Report
US Foods' financial results were negatively impacted by the COVID-19 pandemic, but trends improved as the quarter progressed.
Key Takeaways
US Foods reported a decrease in net sales and gross profit due to the negative impact of COVID-19 on case volume. Net loss available to common shareholders was $97 million, and Adjusted EBITDA decreased 72.5% to $88 million.
Total case volume decreased 28.0%; total organic case volume decreased 40.2%.
Net sales decreased 29.2% to $4.6 billion.
Gross profit decreased 41.2% to $671 million.
Adjusted EBITDA decreased 72.5% to $88 million.
US Foods
US Foods
Forward Guidance
Due to the continued uncertainty associated with COVID-19, the company withdrew its fiscal 2020 financial guidance on March 23, 2020 and is not providing financial guidance at this time.