US Foods recovering from pandemic

ROSEMONT - US Foods Holding Corp., one of the largest food service distributors in the United States, announced fiscal year 2022 financial results, including net sales of $34.1 billion, up 15.5% from the prior year.

The increase was driven by food cost inflation of 13% and related pricing increases as compared to the 2021 fiscal year.

Total case volume increased 1.7% from the prior year on a 4.3% increase in independent restaurant case volume, a 31% increase in hotel and hospitality volume and a 2.9% increase in health care volume, offset by a 6.1% decrease in large chain volume.

Year-over-year total case growth for the year was negatively impacted approximately 2.8% by the planned mid-2021 exit of the lower margin grocery retail business the company temporarily added during the pandemic and the strategic exit of a small number of lower margin chain restaurant and education customers, US Foods said.

Gross profit of $5.5 billion increased $837 million, or 18.0%, from the prior year.

"US Foods' strong financial results this quarter reflect the growing positive momentum that our team built over the past year," said Dave Flitman, CEO. "In the fourth quarter, we grew case volume across nearly all customer types and doubled growth in independent restaurants over the prior quarter."