Exhibit 99.1

 

 

 

 

 

INVESTOR CONTACT:

MEDIA CONTACT:

Melissa Napier

Sara Matheu

(847) 720-2767

(847) 720-2392

Melissa.Napier@usfoods.com

Sara.Matheu@usfoods.com

 

US Foods Reports First Quarter Fiscal 2018 Earnings

 

ROSEMONT, Ill. (BUSINESS WIRE) May 8, 2018 –

US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for first quarter fiscal 2018.

 

First Quarter 2018 Highlights

 

Total case volume decreased 2.3%; independent restaurant case volume increased 4.3%

 

Net sales increased 0.6% to $5.8 billion

 

Gross profit of $992 million increased 0.1%

 

Income before income taxes increased $28 million to $63 million

 

Net income of $67 million increased $40 million

 

Adjusted EBITDA increased 4.2% to $224 million

 

Diluted EPS of $0.31; Adjusted Diluted EPS of $0.35

 

CEO Perspective

“During the first quarter we saw solid growth with independent restaurants and expanded Gross profit per case by $0.19, our highest quarterly per case growth rate in recent history. Execution on our gross profit and operating expense initiatives drove 4.2% Adjusted EBITDA growth despite headwinds from weather and inbound freight costs,” said Chairman and CEO Pietro Satriano. “Our outlook for independent restaurants and the overall industry remains strong and we are well positioned to deliver on another successful year.”

 

First Quarter 2018 Results

Total case volume decreased 2.3% from the prior year with organic case volume declining 3.2%. Independent restaurant case volume increased 4.3%, of which 2.7% was organic growth. The decrease in total case volume was driven primarily by the planned exits of select chain customers and adverse weather conditions throughout the quarter.

 

Net sales of $5.8 billion increased 0.6% from the prior year, primarily driven by inflation in the beef, produce, dairy and grocery categories which was partially offset by a decline in case volume. Sales from acquisitions completed during the last four fiscal quarters increased Net sales by approximately 1.4%.

 

Gross profit of $992 million increased $1 million, or 0.1% from the prior year, driven by margin expansion initiatives which were partially offset by higher inbound freight costs, a decline in case volume and an increase in the year-over-year LIFO reserve expense. Gross profit as a percentage of Net

 


The following information was filed by Us Foods Holding Corp. (USFD) on Tuesday, May 8, 2018 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.

View differences made from one quarter to another to evaluate Us Foods Holding Corp.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Us Foods Holding Corp..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account