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Jan 02, 2021
US Foods Q4 2020 Earnings Report
US Foods' Q4 2020 earnings declined due to the impact of COVID-19, despite actions taken to reduce operating costs and the contribution from Smart Foodservice acquisition.
Key Takeaways
US Foods reported a decrease in net sales and adjusted EBITDA for the fourth quarter of fiscal year 2020, primarily due to the negative impact of COVID-19. While total case volume and independent restaurant case volume decreased, the company focused on operational efficiencies and benefited from the Smart Foodservice acquisition.
Total case volume decreased by 10.2%, with independent restaurant case volume down by 6.0%.
Net sales decreased by 11.5% to $6.1 billion.
Gross profit decreased by 18.5% to $1.0 billion.
Adjusted EBITDA decreased by 48.1% to $174 million.
US Foods
US Foods
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.