US Foods Holding Corp., one of the largest foodservice distributors in the United States, has announced results for the fourth quarter and full fiscal year 2018.
Fourth Quarter Fiscal 2018 Highlights
- Total case volume decreased 0.8%; independent restaurant case volume increased 3.9%
- Net sales increased 0.8% to $6.0 billion
- Gross profit of $1.1 billion increased 1.6%
- Income before income taxes decreased $5 million to $132 million
- Net income decreased $156 million to $100 million
- Adjusted EBITDA increased 2.4% to $297 million
- Diluted EPS of $0.46; Adjusted Diluted EPS of $0.56
Fiscal Year 2018 Highlights
- Total case volume decreased 1.2%; independent restaurant case volume increased 3.8%
- Net sales increased 0.1% to $24.2 billion
- Gross profit of $4.3 billion increased 2.1%
- Income before income taxes increased $92 million to $496 million
- Net income decreased $37 million to $407 million
- Adjusted EBITDA increased 4.3% to $1,103 million
- Diluted EPS of $1.87; Adjusted Diluted EPS of $2.03
CEO Perspective
“We made significant progress in 2018 as we implemented our key strategic initiatives which position us well for future growth,” said Chairman and CEO Pietro Satriano. “As part of our actions to drive profitability, we expanded sales of our private brands, implemented operational improvements in our merchandising and supply chain functions, and maintained strong cost discipline throughout the organization. Our differentiated product innovation, e-commerce and team-based selling strategies continue to give us a competitive advantage and contributed to us exiting the year with independent restaurant case growth exceeding our 4% exit rate target. We are confident in our ability to deliver improved growth and operating profitability in 2019.”
To view full financial release, click here.
INVESTOR CONTACT: Melissa Napier, (847) 720-2767, Melissa.Napier@usfoods.com
MEDIA CONTACT: Sara Matheu, (847) 720-2392, Sara.Matheu@usfoods.com
