$USFD · US Foods Holding Corp.
US Foods filed its Q3 FY2026 10-Q for the 13 weeks ended September 26, 2026. Net sales rose 2.1% to $10.402B, gross profit climbed 8.6% to $1.904B (gross margin 18.3% vs 17.2%), and net income jumped 42% to $218M. Diluted EPS was $1.00 versus $0.67 a year ago. Total case volume grew 1.3%, led by a 5.0% increase in independent restaurant volume, partially offset by a 1.5% decline in chain volume.
- Net income rose 42% to $218M for the 13 weeks ended September 26, 2026.
- Diluted EPS was $1.00, up from $0.67 a year earlier.
- Gross margin expanded to 18.3% from 17.2% on improved cost of goods sold and favorable LIFO.
- Independent restaurant case volume grew 5.0%, while chain volume fell 1.5%.
- Company repurchased $635M of common stock in the 39-week period.
Shares closed down 2.80% at $106.85, with extended-hours trading essentially flat at $106.84 (+0.10% vs filing price), suggesting the strong quarter was already priced in.
A 42% jump in net income and 110bps of gross margin expansion show US Foods converting modest volume growth into sharply higher profitability.
US Foods' margin expansion and independent-restaurant volume growth contrast with softer chain demand, a dynamic also seen across foodservice distribution peers.
Chain volume declined 1.5% in Q3 and 1.8% over 39 weeks, and the filing flags consumer discretionary spending and pharmaceutical therapy impacts on away-from-home food consumption as key risks.