US Foods Holding Corp. trimmed the upper ends of its 2026 growth forecasts after its finance chief cited slower economic conditions and higher fuel costs, even as the foodservice distributor reported quarterly sales and earnings growth.
For the quarter ended Sept. 26, net sales reached $10.4 billion, up 2.1% from a year earlier. Total case volume grew 1.3%, while volume among independent restaurants increased 5%. Higher case volumes and a 0.4% rise in food costs contributed to the sales increase. The independent restaurant channel's gain exceeded the companywide case-volume increase.
Net income rose 42.5% to $218 million, while the net income margin increased 60 basis points to 2.1%. Adjusted EBITDA, a company-defined non-GAAP measure, grew 9.9% to $555 million. Diluted earnings per share reached $1.00, up 49.3%, and adjusted diluted earnings per share increased 17.8% to $1.26.
For fiscal 2026, US Foods now expects net sales growth of 4% to 5%, compared with its previous range of 4% to 6%. The adjusted EBITDA growth forecast is 9% to 11%, down from 9% to 13%. Adjusted diluted earnings-per-share growth is projected at 18% to 20%, versus the earlier range of 18% to 24%.
Each forecast range has a lower upper limit, while its lower limit remains the same. US Foods’ fiscal 2026 projections account for a 53rd week, which the company estimates will lift case growth and adjusted EBITDA growth by about 1%. Chief Financial Officer Dirk Locascio attributed the revised expectations to a slower macroeconomic environment and higher fuel costs.
US Foods also said it had extended its run of share gains to 22 consecutive quarters with independent restaurants and 24 quarters with healthcare customers.
The company filed a Form 8-K with the Securities and Exchange Commission on Nov. 5. The filing lists the results disclosure under Item 2.02 and financial statements and exhibits under Item 9.01.
