US Foods Reports Mixed Q3 Results, Warns On Supply Chain Headwinds

US Foods Holding Corp USFD reported third-quarter FY21 sales growth of 35% year-on-year, to $7.89 billion, beating the analyst consensus of $7.61 billion.
Total case volume improved 18.5%, independent restaurant case volume increased 25.1%.
Gross profit increased 27.4% Y/Y to $1.2 billion and the profit margin was 15.7%.
Operating expenses rose 23.4% Y/Y to $1.1 billion. The operating margin was 1.7%, and operating income for the quarter rose 73.1% to $135 million.
Adjusted EBITDA increased 39.2% Y/Y to $291 million in the quarter.
Adjusted EPS of $0.48 missed the analyst consensus of $0.49.
US Foods held $772 million in cash and equivalents as of October 2, 2021. Cash provided by operating activities totaled $520 million for nine months ended October 2, 2021.
"While supply chain headwinds persist and are expected to continue into 2022, we're pleased to see tangible and enduring signs that the industry is recovering, which allows us to refocus our energy and resources on our Great Food," said Chairman and CEO Pietro Satriano.
Price Action: USFD shares are trading lower by 4.67% at $36.76 on the last check Monday.

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