US Foods 4Q Sales Jump 24.5% - Modern Distribution Management

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US Foods 4Q Sales Jump 24.5%

US Foods Holding Corp. reported 2021 fourth-quarter sales of $7.6 billion and year-end sales of $29.5 billion.
The companies reported strong third-quarter figures, with Watsco and Pool Corp breaking sales records and Snap-On topping $1.1 billion.

Rosemont, Illinois-based distributor US Foods Holding Corp. (NYSE: USFD) reported 2021 fourth quarter sales of $7.6 billion, a 24.5% increase over the same quarter in 2020.

US Foods also reported 2021 year-end sales of $29.5 billion, a 28.8% increase over the previous year.

For 4Q, gross profit increased 23.2% to $1.2 billion, while net income available to common shareholders was $59 million. Adjusted EBITDA for 2021 4Q increased 50.6% to $262 million.

For the year, US Foods reported that gross profit increased 25.2% to $4.7 billion, while net income available to common shareholders was $121 million.
Adjusted EBITDA for 2021 increased 63.1% to $1,057 million.

“2021 was a year of resilience and recovery. Thanks to the efforts of our associates, we stayed true to our promise to help our customers Make It,” US Foods CEO Pietro Satriano said. “In the face of continued industry wide supply chain and labor challenges, we increased Adjusted EBITDA 63% by successfully growing volume and increasing market share with key customer types, delivered our highest gross profit per case since becoming a publicly traded company, and continued to improve operational efficiencies. I am confident that our foundation of efficient and reliable customer service, differentiated solutions, and unique omni-channel experience, supported by a robust plan of targeted initiatives to deliver significant Adjusted EBITDA growth through 2024 and beyond, will drive meaningful value creation for our shareholders.”

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