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Sep 26, 2020
US Foods Q3 2020 Earnings Report
US Foods' Q3 2020 earnings were impacted by COVID-19 but showed resilience through market share gains and cost management.
Key Takeaways
US Foods reported a decrease in net sales and adjusted EBITDA for the third quarter of fiscal 2020, primarily due to the impact of COVID-19. However, the company demonstrated resilience by gaining market share, improving adjusted gross profit margin, and managing costs effectively.
Total case volume decreased by 8.9%, with organic case volume down 22.2%.
Net sales decreased by 10.5% to $5.8 billion.
Adjusted EBITDA decreased by 31.9% to $209 million.
Diluted EPS loss was $0.01, while Adjusted Diluted EPS was $0.15.
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.