US Foods Q2 net income +23% to $275M on 4.5% revenue growth, 5.1% independent volume

Filed August 6, 2026 · Period ending June 27, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Independent restaurant case volume accelerated to +5.1% (Q2) and +4.8% (YTD) from +2.7% and +2.6% prior year, driving total case volume growth to +1.9% and +1.6% respectively. Organic independent volume (excluding acquisitions) more than doubled to +5.0% (Q2) and +4.7% (YTD).

  MD&A: Case Volume verify on EDGAR →
• high

  Gross profit rose 8.0% to $1.9B in Q2 (vs. 4.2% prior year) on volume growth, improved cost of goods sold, and a favorable LIFO swing from $14M expense to $5M benefit. Gross margin expanded 60 bps to 18.2%. YTD gross profit grew 73.7% despite LIFO expense rising from $19M to $33M.

  MD&A: Gross Profit verify on EDGAR →
• high

  Operating income rose $71M to $443M in Q2 (vs. $19M increase prior year), expanding operating margin 50 bps to 4.2%. YTD operating income increased $63M to $659M, with margin up 20 bps to 3.3%. Adjusted EBITDA margin expanded 30 bps to 5.7% (Q2) and 20 bps to 5.0% (YTD).

  MD&A: Operating Income verify on EDGAR →