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US Foods Posts Q3 Results


In a November 9th release, US Foods Holding Corp. (USFD) reported on the 3rd Quarter of fiscal 2021 ending October 2nd.


On a GAAP basis, the company earned $64 million on total sales of $7,890 million generating an EPS of $0.24.  For the comparable Q3 of fiscal 2020, Sysco lost $3 million on sales of $5,848 million with an EPS of $(0.01). Compared with Q3 of 2020 sales increased by 34.9  percent, gross profit by 27.4 percent and operating income by 73.1 percent


In commenting on results, Pietro Satriano CEO stated “In the third quarter, US Foods’ continued operational and financial discipline helped drive increased volumes and profitable growth," He added “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 Made Easy strategy. We are focused on profitably growing market share, smartly optimizing our margins and improving operational efficiencies. Together, these initiatives are designed to position US Foods to benefit from a strengthening economy and create value for our shareholders.”


US Foods posted assets of $13,117 million with long-term debt and lease obligations of $5,282 million.  Market capitalization on November 9th was $7,932 million.  During the past fifty-two weeks, SYY has traded in a range of $35.30 to $36.64 with a fifty-day moving average of $36.34.  On a trailing twelve-month basis, operating margin was 1.8 percent and profit margin 0.3 percent.  Over the past four quarters the Company has generated returns of 2.4 percent on assets and 2.1 percent on equity.