EarningsQ2 2026 Earnings Report
MX:USFD Q2 2026 EPS Results
Actual EPS$24.47
Consensus EPS$23.20
Beat/MissBeat by +$1.27
One Year Ago EPS$20.23
MX:USFD Q2 2026 Revenue Results
Actual Revenue$179.00B
Expected Revenue$177.83B
Beat/MissBeat by +$1.17B
YoY Revenue Growth+4.46%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
MX:USFD Upcoming Earnings
US Foods Holding's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:USFD Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong execution and multiple tangible operational and financial wins: record adjusted EBITDA and margin expansion, double-digit adjusted EPS growth, accelerating independent restaurant volume (+5.1%), sizable share repurchases, and concrete self-help and AI-driven productivity initiatives with quantifiable savings targets. Management acknowledged headwinds — notably a decline in chain restaurant volume (-1.5%), elevated fuel and near-term selling cost pressure from the sales compensation transition, and the need to lap a prior event that will moderate Q3 comparisons. Overall, the positives (robust growth, margin expansion, share gains, cash flow strength, and clear programs to drive further productivity and AI adoption) materially outweigh the limited and largely manageable near-term challenges.Company Guidance
Record Adjusted EBITDA and Margin Expansion
Adjusted EBITDA reached a record $604 million, up 10.2% year-over-year, and adjusted EBITDA margin expanded 29 basis points to a record 5.7%.
Strong Adjusted EPS Growth
Adjusted diluted EPS increased 21% to $1.44, outpacing adjusted EBITDA growth and supported by disciplined capital allocation and share repurchases.
Net Sales and Volume Growth
Net sales increased 4.5% to $10.5 billion. Total case volume grew 1.9%, with independent restaurant case growth of 5.1%, health care +3.5% and hospitality +4.4%.
Sustained Share Gains
Company reported its 21st consecutive quarter of share gains with independent restaurants and 23rd consecutive quarter of share gains with health care.
Pronto Growth and Upside
Pronto small-truck delivery grew strongly: $1.0B in sales in 2025, estimated ~$1.3B in 2026, and management now expects >$1.7B in 2027 (revised up from $1.5B). Pronto live in 52 markets; Pronto Next Day in 35 markets.
Operational Improvement and Service Metrics
Operations Quality Composite (Ops QC) improved 13% year-over-year and 37% over two years, indicating fewer order errors and stronger service reliability.
Self-Help and Cost Savings Progress
Generated >$50 million of incremental cost-of-goods savings in H1; targeting >$300 million of strategic vendor management savings through 2027. Inventory initiatives expected to add $10 million gross profit in 2026 (after $35M in 2025). Indirect procurement delivered >$20M YTD and expected >$75M in 2026, >$100M in 2027.
Cash Flow, Share Repurchases and Leverage
Year-to-date operating cash flow of $725 million; repurchased $374 million of shares in Q2 (~$500M YTD); net leverage 2.6x (within 2.0–3.0x target); ABL refinanced to $2.5B maturing 2031 and no long-term maturities until 2028.
AI and Automation Adoption
AI-enabled Visit Assistant delivered >700,000 actionable insights in first 6 weeks. Pilots expanding for autonomous inventory-scanning robotics (1 pilot, expanding to 6 locations) and AI sales assistant pilots underway to improve seller productivity and supply chain forecasting.
Safety, Talent and Sustainability Initiatives
Injury and accident rates improved by over 50% in 3.5 years; 2,500 center-ride pallet jacks rollout 87% complete; launched VALOR veteran hiring campaign (target 3,000 hires by 2030); invested 1.2 million training hours in 2025; 2025 sustainability report published.
MX:USFD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed