Exhibit 99.1
 
 g201805072257547112337a101a.jpg
INVESTOR CONTACT:MEDIA CONTACT:
Melissa NapierSara Matheu
(847) 720-2767(847) 720-2392
melissa.napier@usfoods.comsara.matheu@usfoods.com
 
US Foods Reports First Quarter Fiscal 2021 Earnings
 
ROSEMONT, Ill. (BUSINESS WIRE) May 10, 2021 –
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 2021. In this press release, we refer to certain organic financial results. Organic financial results exclude contributions from Smart Foodservice, which was acquired on April 24, 2020.

First Quarter Fiscal 2021 Highlights
Total case volume decreased 0.9%; independent restaurant case volume increased 8.1%
Total organic case volume decreased 6.4%; organic independent restaurant case volume increased 0.2%
Net sales decreased 0.7% to $6.3 billion
Gross profit decreased 5.9% to $1.0 billion
Net loss available to common shareholders was $39 million
Adjusted EBITDA decreased 2.8% to $172 million
Diluted EPS loss was $0.18; Adjusted Diluted EPS was $0.12

CEO Perspective
"During the first quarter, we saw a meaningful recovery in case volume with our restaurant and hospitality customers. This momentum has continued into the early part of the second quarter as restrictions on in-person dining continue to be lifted in markets across the country," said Chairman and CEO Pietro Satriano. "Over the last 12 months, our scale and differentiated strategy have allowed us to gain market share with both large and small customers as operators continue to utilize our technology, innovative products and consultative services to help them manage their business."

First Quarter Fiscal 2021 Results
Total case volume decreased 0.9% from the prior year, while total organic case volume decreased 6.4%. Independent restaurant case volume increased 8.1%, while organic independent restaurant case volume increased 0.2%. Net sales of $6.3 billion decreased 0.7% from the prior year, primarily as a result of the negative impact of COVID-19 on case volume. Both case volume and Net sales improved throughout the quarter as COVID-19 vaccine distributions became more widespread and restrictions on in-person dining eased in various markets. Smart Foodservice contributed Net sales of $261 million, or 4.1%, for the quarter.

Gross profit of $1.0 billion decreased $63 million, or 5.9%, from the prior year, primarily as a result of the negative impact of COVID-19 on case volume, an unfavorable year-over-year LIFO adjustment, changes to our customer mix and higher logistics costs. These factors were partially offset by contributions from Smart Foodservice, which was not owned by the company in the prior year period. Gross profit as a percentage of Net sales was 15.9%. Adjusted Gross profit was $1.0 billion, a decrease of $29 million or 2.8% from the prior year, driven by the negative impact of
1

The following information was filed by Us Foods Holding Corp. (USFD) on Monday, May 10, 2021 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