Exhibit 99.1

 

 

 

 

 

 

INVESTOR CONTACT:

 

MEDIA CONTACT:

 

Melissa Napier

 

Debra Ceffalio

 

(847) 720-2767

 

(847) 720-1652

 

Melissa.Napier@usfoods.com

 

Debra.Ceffalio@usfoods.com

 

 

US Foods Reports First Quarter Fiscal 2017 Earnings

 

ROSEMONT, Ill. (BUSINESS WIRE) May 9, 2017 –

US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for the first quarter of fiscal 2017.

 

First Quarter Highlights

 

Total case volume increased 4.3%; independent restaurant case volume increased 4.0%.

 

Net sales increased 3.5% to $5.8 billion.

 

Gross profit of $991 million increased 3.2%.

 

Operating income of $77 million decreased $8 million.

 

Net income of $27 million increased $14 million.

 

Adjusted EBITDA increased 6.1% to $215 million.

 

Diluted EPS of $0.12; Adjusted Diluted EPS of $0.18.

 

CEO Perspective

“Our business delivered solid results in the first quarter of fiscal 2017,” said President and CEO Pietro Satriano. “Solid volume growth with our targeted customer types helped us deliver Net sales growth of 3.5%, and our disciplined focus on improving profitability led to Adjusted EBITDA growth of over 6% against a strong fiscal 2016 first quarter. Our M&A pipeline remains active, and the two new acquisitions closed in the first quarter provide opportunities to increase our independent restaurant share and center of the plate capabilities in protein. We are confident that the continued execution of our strategy will drive solid results as the year progresses.”

 

First Quarter Results

Total case volume increased 4.3% from prior year, of which 2.7% was organic growth, and independent restaurant case volume increased 4.0%, of which 2.8% was organic growth. Continued growth with independent restaurants, healthcare, and hospitality customers, as well as select new national chain business, drove the strong first quarter volume increase.  

 

Net sales of $5.8 billion represent a 3.5% increase from prior year, driven by total case volume growth that was partially offset by year-over-year deflation in dairy, beef and produce as well as product mix

1

 


The following information was filed by Us Foods Holding Corp. (USFD) on Tuesday, May 9, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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