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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

US Foods Reports on Q1

05/12/2021

In a May 10th release, US Foods Holding Corp (USFD) announced results for the first quarter of fiscal 2021 ending April 3rd. As with all food-service providers the Company was severely impacted by COVID-related shutdowns. For the period, the company posted a net loss of $24 million on sales of $6,295 million with a negative EPS of $(0.18). For the comparable first quarter of 2020 ending March 28th, US Foods posted a loss of $132 million on net sales of $6,339 million with a negative EPS of $(0.60). The company posted a decrease in total case volume of 0.9 percent from Q1 2020, but independent restaurant case volume increased by 8.1 percent.

 

In commenting on Q1 results, Pietro Satriano, CEO stated, "during the first quarter we saw a meaningful recovery in case volume with our restaurant and hospitality customers.  This momentum has continued into the early part of the second quarter as restrictions on in-person dining continue to be lifted in markets across the country".  He added, "over the last twelve months, our scaled and differentiated strategy has allowed us to gain market share with both large and small customers as operators continue to use our technology, innovative products and consultative services to help them manage their business".

 

US Foods Holding Corp posted total assets of $13.0 billion of which 50 percent comprised goodwill and intangibles.  The company carries long-term debt of $5.6 billion.

 

US Foods Holding company has a market capitalization of $8.5 billion.  The company has traded over a 52-week period in a range of $15.60 to $42.10 with a 50-day moving average of $38.91.  On a trailing twelve-month basis, operating margin was 0.5 percent with a negative profit margin of -1.0 percent.  The company has generated a return on assets of 0.6 percent and a negative return of -5.8 percent on equity.


 
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