Jun 2026 (Q2 FY26) — Aug 6, 2026
US Foods Q2 FY26 — Record Adjusted EBITDA and Strong Independent Restaurant Growth
Read the full callUS Foods (USFD) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
US Foods earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 10,532 | +4.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 4.2 | +0.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 275 | +22.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
18 of 20 judged targets kept · 24 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 100% variable sales compensation plan launch | full deployment in early 2026 | Sep 2025 | Our new seller compensation plan successfully went live across the company in June. | Achieved |
| UMOS (US Foods Market Operating System) full deployment | live and complete across more than 60 of 74 markets by end of 2025, later extended to full deployment by middle of 2026 | Jun 2025 | Ghosted | |
| Pronto cumulative sales target by 2027 | $1.5 billion in sales by 2027 | Jun 2025 | we now believe Pronto can generate more than $1.7 billion in sales in 2027 and up from our prior estimate of $1.5 billion. | Revised Up |
2 of US Foods Holding Corp.'s 44 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 41 more targets are in the full ledger.
Claimed
- Achieved record adjusted EBITDA of $604 million and adjusted EBITDA margin of 5.7%, expanding 29 basis points year-over-year.
- Delivered 21% adjusted diluted EPS growth to $1.44, significantly outpacing adjusted EBITDA growth.
- Independent restaurant case growth accelerated to 5.1%, marking the strongest performance since Q4 2023 and 21st consecutive quarter of share gains.
- Repurchased over $370 million of shares during the quarter, contributing to approximately $500 million year-to-date.
- Pronto, the small truck delivery service, is estimated to deliver approximately $1.3 billion in sales this year, up from $1 billion in 2025.
Qualified
- Wildfires in Spokane, Washington, tragically impacted 3 associates who lost all or a portion of their homes.
- Chain restaurant volume declined 1.5%, though 30 basis points better than industry traffic.
- Higher fuel costs were incurred, though the recovery rate was better than expected at approximately 70% for the quarter.
Price
$100.38 −1.55% · −$1.58
Performance +31.9% 1Y
1Y: $76.12 on 17 Oct 2025 → $100.38. High $110.94 (12 Aug 2026), low $70.05 (20 Nov 2025).
- Previous close
- $101.96
- 52-week range
- $70.05 – $110.94
- One year
- +31.61%
Overview
- Symbol
- USFD
- Sector
- Consumer Staples
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
18 of 20 judged targets kept · 24 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| 100% variable sales compensation plan launch | full deployment in early 2026 | Sep 2025 | Our new seller compensation plan successfully went live across the company in June. | Achieved |
| UMOS (US Foods Market Operating System) full deployment | live and complete across more than 60 of 74 markets by end of 2025, later extended to full deployment by middle of 2026 | Jun 2025 | Ghosted | |
| Pronto cumulative sales target by 2027 | $1.5 billion in sales by 2027 | Jun 2025 | we now believe Pronto can generate more than $1.7 billion in sales in 2027 and up from our prior estimate of $1.5 billion. | Revised Up |
Claimed
- Achieved record adjusted EBITDA of $604 million and adjusted EBITDA margin of 5.7%, expanding 29 basis points year-over-year.
- Delivered 21% adjusted diluted EPS growth to $1.44, significantly outpacing adjusted EBITDA growth.
- Independent restaurant case growth accelerated to 5.1%, marking the strongest performance since Q4 2023 and 21st consecutive quarter of share gains.
- Repurchased over $370 million of shares during the quarter, contributing to approximately $500 million year-to-date.
- Pronto, the small truck delivery service, is estimated to deliver approximately $1.3 billion in sales this year, up from $1 billion in 2025.
Qualified
- Wildfires in Spokane, Washington, tragically impacted 3 associates who lost all or a portion of their homes.
- Chain restaurant volume declined 1.5%, though 30 basis points better than industry traffic.
- Higher fuel costs were incurred, though the recovery rate was better than expected at approximately 70% for the quarter.
The full ledger
Open US Foods Holding Corp.’s full ledger
A free account opens 5 company ledgers a month. All 44 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
US Foods Q1 FY26 — Strong Case Growth Amid Headwinds, Reaffirms FY26 Guidance
Read the full callEvery analysed call
US Foods earnings calls (USFD)
Financials
What the filings say
Net profit, year on year: +23% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 9,728 | 9,491 | 9,351 | 10,082 | 10,191 | 9,800 | 9,610 | 10,532 |
| Operating profit | 279 | 302 | 224 | 372 | 282 | 321 | 216 | 443 |
| Operating margin | 2.9% | 3.2% | 2.4% | 3.7% | 2.8% | 3.3% | 2.3% | 4.2% |
| Interest | 75 | 80 | 77 | 74 | 76 | 78 | 75 | 77 |
| Profit before tax | 201 | 87 | 148 | 300 | 206 | 244 | 142 | 369 |
| Tax rate | 26.4% | 24.1% | 22.3% | 25.3% | 25.7% | 24.6% | 18.3% | 25.5% |
| Net profit | 148 | 66 | 115 | 224 | 153 | 184 | 116 | 275 |
| EPS ($ per share) | 0.61 | — | 0.50 | 0.97 | 0.68 | — | 0.53 | 1.26 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 3 | — | — |
| Reserves | 531 | 916 | 661 | 782 | 1,010 | 1,509 | 2,003 | 2,679 |
| Total liabilities | 5,957 | 7,579 | 8,374 | 8,252 | 8,278 | 8,438 | 8,908 | 9,636 |
| Fixed assets | 1,842 | 2,075 | 2,021 | 2,033 | 2,171 | 2,280 | 2,398 | 2,681 |
| Total assets | 9,186 | 11,288 | 12,423 | 12,521 | 12,773 | 13,187 | 13,436 | 13,943 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 609 | 760 | 413 | 419 | 765 | 1,140 | 1,174 | 1,369 |
| Cash from investing | -232 | -1,987 | -1,110 | -262 | -255 | -495 | -552 | -497 |
| Cash from financing | -391 | 1,220 | 1,427 | -837 | -447 | -587 | -831 | -890 |
| Net cash flow | -14 | -7 | 730 | -680 | 63 | 58 | -209 | -18 |
| Capital expenditure | -235 | -258 | -189 | -274 | -265 | -309 | -341 | -410 |
| Free cash flow | 374 | 502 | 224 | 145 | 500 | 831 | 833 | 959 |
USFD revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2027 | Q2 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +4.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
USFD operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Employees | 30KBefore we begin, I want to thank our dedicated team of 30,000 associates for their unwavering commitment to serving our customers, which was clearly evident in the first quarter.Source: earnings call transcript | 30KI thank our 30,000 associates for their unwavering commitment to delivering excellence in serving our customers and to pursuing our ambition to become the undisputed best in our industry.Source: earnings call transcript | 0% |
| Employees Military veterans | 1,500With this being National Military Appreciation Month, I am incredibly grateful for our 1,500 veteran associates and the unique expertise they bring to our company.Source: earnings call transcript | 1,500+Through Valor, we are expanding our veteran recruiting efforts with a dedicated web page, new strategic partnerships and ongoing investments to recognize and support the more than 1,500 and growing number of veteran associates already contributing to our business.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
103 filings between Nov 11, 2025 and Aug 14, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$18.45M
8 sales by 5 insiders
25% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 28
- Award — granted as compensation
- 11
- Option exercise — converted options into shares
- 47
- Tax withheld — shares kept back by the company to cover tax
Also filed: 7 gifts, 2 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Works James David Jr | — | $6.35M | Feb 18, 2026 |
| Locascio Dirk J. | — | $4.25M | Mar 30, 2026 |
| Guberman Steven | — | $4.22M | Nov 11, 2025 |
| Hancock William Spencer | — | $2.36M | Aug 7, 2026 |
| Taylor Randy J | — | $1.28M | Aug 13, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 14, 2026 | Flitman David E See remarks | Gift | 130,000 | $0 |
| Aug 14, 2026 | Flitman David E See remarks | Gift | 29,000 | $0 |
| Aug 14, 2026 | Flitman David E See remarks | Gift | 130,000 | $0 |
| Aug 14, 2026 | Flitman David E See remarks | Gift | 29,000 | $0 |
| Aug 13, 2026 | Taylor Randy J See Remarks | Option exercise | 5,199 | $179.7K |
| Aug 13, 2026 | Taylor Randy J See Remarks | Sale | 6,431 | $710.0K |
| Aug 13, 2026 | Taylor Randy J See Remarks | Option exercise | 6,431 | $215.8K |
| Aug 13, 2026 | Taylor Randy J See Remarks | Sale | 5,199 | $573.7K |
| Aug 7, 2026 | Hancock William Spencer See Remarks | Sale | 21,754 | $2.36M |
| Jun 5, 2026 | Taylor Randy J See Remarks | Tax withheld | 1,271 | $107.5K |
| May 19, 2026 | TEHLE DAVID M Director | Tax withheld | 117 | $9.6K |
| May 19, 2026 | TEHLE DAVID M Director | Option exercise | 406 | $9.5K |
| May 19, 2026 | TEHLE DAVID M Director | Tax withheld | 117 | $9.6K |
| May 19, 2026 | TEHLE DAVID M Director | Option exercise | 1,624 | $38.2K |
| May 19, 2026 | TEHLE DAVID M Director | Tax withheld | 467 | $38.2K |
| May 19, 2026 | TEHLE DAVID M Director | Option exercise | 406 | $9.5K |
| May 14, 2026 | Bullock David W Director | Award | 2,204 | $0 |
| May 14, 2026 | ROACH QUENTIN Director | Award | 2,204 | $0 |
| May 14, 2026 | Pforzheimer Carl Andrew Director | Award | 2,204 | $0 |
| May 14, 2026 | TEHLE DAVID M Director | Award | 2,204 | $0 |
| May 14, 2026 | GOTTSCHALK MARLA C Director | Award | 2,204 | $0 |
| May 14, 2026 | BACHELDER CHERYL A Director | Award | 2,204 | $0 |
| May 14, 2026 | ZIEGLER ANN ELIZABETH Director | Award | 2,204 | $0 |
| Mar 30, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Other 10b5-1 plan | 42,732 | $0 |
| Mar 30, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Other 10b5-1 plan | 42,732 | $0 |
| Mar 30, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Gift 10b5-1 plan | 85,464 | $0 |
| Mar 30, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Sale 10b5-1 plan | 20,000 | $1.82M |
| Mar 27, 2026 | Works James David Jr See Remarks | Tax withheld | 10,865 | $987.2K |
| Mar 27, 2026 | Works James David Jr See Remarks | Award | 25,011 | $0 |
| Mar 27, 2026 | Tonnison John A See Remarks | Tax withheld | 2,197 | $199.6K |
| Mar 27, 2026 | Tonnison John A See Remarks | Tax withheld | 10,738 | $975.7K |
| Mar 27, 2026 | Tonnison John A See Remarks | Award | 27,287 | $0 |
| Mar 27, 2026 | Flitman David E Chief Executive Officer | Tax withheld | 74,397 | $6.76M |
| Mar 27, 2026 | Flitman David E Chief Executive Officer | Tax withheld | 15,216 | $1.38M |
| Mar 27, 2026 | Flitman David E Chief Executive Officer | Award | 164,050 | $0 |
| Mar 27, 2026 | Works James David Jr See Remarks | Tax withheld | 2,223 | $202.0K |
| Mar 27, 2026 | Taylor Randy J See Remarks | Tax withheld | 791 | $71.9K |
| Mar 27, 2026 | Taylor Randy J See Remarks | Tax withheld | 3,868 | $351.4K |
| Mar 27, 2026 | Taylor Randy J See Remarks | Award | 8,528 | $0 |
| Mar 27, 2026 | Guberman Steven See Remarks | Tax withheld | 2,471 | $224.5K |
| Mar 27, 2026 | Guberman Steven See Remarks | Tax withheld | 12,079 | $1.10M |
| Mar 27, 2026 | Guberman Steven See Remarks | Award | 30,696 | $0 |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Tax withheld | 4,121 | $374.4K |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Tax withheld | 8,241 | $748.8K |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Tax withheld | 20,146 | $1.83M |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Award | 45,475 | $0 |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Tax withheld | 4,121 | $374.4K |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Tax withheld | 8,241 | $748.8K |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Tax withheld | 20,146 | $1.83M |
| Mar 27, 2026 | Locascio Dirk J. EVP, Chief Financial Officer | Award | 45,475 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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