US Foods’ 2Q Sales Up 68% - Modern Distribution Management

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US Foods’ 2Q Sales Up 68%

In the second quarter, US Foods posted earnings 58 cents per share compared to a loss of 25 cents per share a year ago.
In the latest earnings reporting p

US Foods Holding Corp. (NYSE: USFD), Rosemont, IL, reported second-quarter net sales of $7.7 billion, an increase of 68% from the same quarter a year ago. Gross profit increased 74.% to $1.2 billion in the second quarter.

When adjusted for non-reoccurring items, US Foods posted earnings of 58 cents per share compared to a loss of 25 cents per share a year ago.

US Foods’ net sales of $14 billion in the first six months of this year marked a 28% increase over the first six months of 2020. Gross profit of $2.2 billion increased $435 million, or 25%, from the prior year

“The commitment to excellence demonstrated by our associates has fueled our very strong second quarter results,” said US Foods Chairman and CEO Pietro Satriano. “As markets around the United States reopen without restrictions, we have seen strong demand for our products, services and consultative expertise. While supply chain labor is expected to remain challenging for the next few quarters, we remain focused on delivering profitable growth as our industry continues to recover.”

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