US Foods benefits as restaurant business increases

ROSEMONT - US Foods Holding Corp. Monday reported results of its fiscal year third quarter, including a 35% increase in net sales, to $7.9 billion, compared to the same period last year.

Gross profit increased 27.4% to $1.2 billion compared to the third quarter of 2021. Total case volume increased 18.5%; independent restaurant case volume increased 25.1%, the company said.

US Foods is one of the largest food service distributors in the United States.

Operating expenses were $3.1 billion, an increase of $308 million or 10.9%, from the prior year.

"In the third quarter, US Foods' continued operational and financial discipline helped drive increased volumes and profitable growth," said Chairman and CEO Pietro Satriano. "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."

The increase in both case volume and net sales was primarily driven by increased leisure and business travel and continued increased restaurant traffic, the company said.