US Foods says sales, profits up in quarter

ROSEMONT - US Foods Holding Corp., one of the largest food service distributors in the United States, said sales and profits rose in its fiscal year third quarter.

Net sales increased 13% to $8.9 billion compared to the same quarter last year. Gross profit increased 17.6% to $1.5 billion compared to a year ago, the company said.

US Foods' 2022 fiscal year third quarter ended Oct. 1. Net income per share for the quarter was 44 cents, as compared to 25 cents for the same period a year ago.

Key drivers to the profit increase included optimized pricing, increased freight income from improved inbound logistics, and cost of goods sold optimization, US Foods said.

"US Foods delivered strong results in the third quarter as we continue to execute on the three pillars of our long-range plan, which we introduced earlier this year," said Andrew Iacobucci, interim CEO.