US Foods Holding Corp. (USFD) Earnings: Q3 Fiscal 2026 Results
Last updated November 2026
Short answer
US Foods reported revenue of $10.4 billion for Q3 fiscal 2026, up 2% from a year earlier (US Foods, Nov 5, 2026). Diluted EPS was $1.00, up 49% from $0.67. Meats and seafood brought in $3,693 million, flat. Every figure is from US Foods's release. Walnut is informational, not investment advice.
USFD Q3 fiscal 2026 results
In one sentence
US Foods reported revenue of $10.4 billion for Q3 fiscal 2026, up 2% from a year earlier (US Foods, Nov 5, 2026).
| Measure | Q3 fiscal 2026 | Q3 fiscal 2025 | Change |
|---|---|---|---|
| Revenue | $10,402 million | $10,191 million | up 2% |
| Diluted EPS (GAAP) | $1.00 | $0.67 | up 49% |
| Diluted EPS (Adjusted Diluted EPS) | $1.26 | $1.07 | up 18% |
| Net income | $218 million | $153 million | up 42% |
The quarter ended September 26, 2026 and US Foods published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. US Foods reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted Diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.
- US Foods reports one operating segment; the categories above are the product disaggregation in its 10-Q.
- Fiscal 2026 is a 53-week year for US Foods, and the extra week falls in the fourth quarter. Q3 fiscal 2026 was the 13 weeks ended September 26, 2026.
Source: US Foods Q3 fiscal 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 26, 2026. Figures as reported; checked against the release on November 10, 2026.
USFD revenue by segment
How US Foods splits revenue in its own release, under its own labels, for Q3 fiscal 2026 against Q3 fiscal 2025. Indented lines are parts of the line above them.
| Net sales by product category | Q3 fiscal 2026 | Q3 fiscal 2025 | Change |
|---|---|---|---|
| Meats and seafood | $3,693 million | $3,704 million | flat |
| Dry grocery products | $1,800 million | $1,708 million | up 5% |
| Refrigerated and frozen grocery products | $1,736 million | $1,686 million | up 3% |
| Dairy | $1,014 million | $1,076 million | down 6% |
| Equipment, disposables and supplies | $987 million | $898 million | up 10% |
| Beverage products | $651 million | $610 million | up 7% |
| Produce | $521 million | $509 million | up 2% |
- US Foods's Meats and seafood revenue was $3.7 billion in Q3 fiscal 2026, flat on $3.7 billion in Q3 fiscal 2025, 36% of total revenue.
- US Foods's Dry grocery products revenue was $1.8 billion in Q3 fiscal 2026, up 5% from $1.7 billion in Q3 fiscal 2025, 17% of total revenue.
- US Foods's Refrigerated and frozen grocery products revenue was $1.7 billion in Q3 fiscal 2026, up 3% from $1.7 billion in Q3 fiscal 2025, 17% of total revenue.
- US Foods's Dairy revenue was $1.0 billion in Q3 fiscal 2026, down 6% from $1.1 billion in Q3 fiscal 2025, 10% of total revenue.
- US Foods's Equipment, disposables and supplies revenue was $987 million in Q3 fiscal 2026, up 10% from $898 million in Q3 fiscal 2025, 9% of total revenue.
- US Foods's Beverage products revenue was $651 million in Q3 fiscal 2026, up 7% from $610 million in Q3 fiscal 2025, 6% of total revenue.
- US Foods's Produce revenue was $521 million in Q3 fiscal 2026, up 2% from $509 million in Q3 fiscal 2025, 5% of total revenue.
Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.
US Foods's outlook for fiscal year 2026
From the earnings release
In its Q3 fiscal 2026 release, US Foods said:
“Net Sales growth of 4% to 5%, compared to previous guidance of 4% to 6%”
“Adjusted EBITDA growth of 9% to 11%, compared to previous guidance of 9% to 13%”
“Adjusted Diluted EPS growth of 18% to 20%, compared to previous guidance of 18% to 24%”
“The guidance provided above includes the impact of a 53rd week in fiscal year 2026, which is expected to add approximately 1% to total case growth and Adjusted EBITDA growth.”
Source: US Foods Q3 fiscal 2026 release, Nov 5, 2026.
This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the USFD forecast page.
USFD recent quarters
Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.
| Quarter | Revenue | Diluted EPS | Reported |
|---|---|---|---|
ended Sep 26, 2026 | $10,402 million | $1.00 | Nov 5, 2026 |
Q2 fiscal 2026 ended Jun 27, 2026 | $10,532 million | $1.24 | Aug 6, 2026 |
Q1 fiscal 2026 ended Mar 28, 2026 | $9,610 million | $0.52 | May 7, 2026 |
Q4 fiscal 2025 ended Dec 27, 2025 | $9,800 million | $0.82 | Feb 12, 2026 |
Q3 fiscal 2025 ended Sep 27, 2025 | $10,191 million | $0.67 | Nov 6, 2025 |
Net sales and GAAP diluted EPS, each as first reported in that quarter's release.
When does USFD report earnings next?
We do not hold a confirmed date for US Foods's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.
Past US Foods quarterly reports
Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.
- Q3 fiscal 2026 (this page), reported Nov 5, 2026
What US Foods's revenue is made of
US Foods' net sales were $10,402 million in Q3 fiscal 2026, up 2.1% from $10,191 million, which it attributed to case volume growth and food cost inflation of 0.4%. Meats and seafood is the largest category at $3,693 million, slightly below the year-ago $3,704 million, followed by dry grocery products at $1,800 million and refrigerated and frozen grocery products at $1,736 million. Dairy fell to $1,014 million from $1,076 million. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026; US Foods Form 10-Q, Q3 fiscal 2026, Nov 5, 2026)
Total case volume at US Foods rose 1.3%. Independent restaurant case volume rose 5.0%, healthcare 3.3% and hospitality 3.7%, while chain volume fell 1.5%. Organic case volume rose 1.2%. The CEO said US Foods has gained share with independent restaurants for 22 consecutive quarters and with healthcare for 24. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
US Foods supplies approximately 250,000 customer locations, including independent restaurants, chain restaurants, healthcare, hospitality, government and education customers, and runs as a single operating segment. It sells through more than 70 broadline locations and more than 90 cash and carry stores, plus its Pronto delivery program and its MOXē ecommerce platform. (US Foods Form 10-K, fiscal 2025, Feb 12, 2026; US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
After the quarter closed, on October 30, 2026, US Foods completed an acquisition for approximately $125 million, funded with cash on hand. The release identifies it as Prime Line Distributors, a specialty food distributor of gourmet Italian products based in Fort Lauderdale, Florida. (US Foods Form 10-Q, Q3 fiscal 2026, Nov 5, 2026; US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
What US Foods's EPS includes
US Foods' GAAP diluted EPS rose 49.3% to $1.00 in Q3 fiscal 2026, and Adjusted Diluted EPS rose 17.8% to $1.26 from $1.07. The adjusted figure adds back restructuring activity and asset impairment charges of $34 million ($0.16 a share), share-based compensation of $22 million and business transformation costs of $5 million, and removes a LIFO reserve benefit. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
The year-ago quarter carried a $46 million LIFO reserve charge, against a $3 million benefit this year, which accounts for $49 million of US Foods' $151 million increase in gross profit. Gross profit was $1,904 million, 18.3% of net sales. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
US Foods repurchased $191 million of stock in the quarter and $690 million over the first nine months of fiscal 2026, with $450 million left under its November 2025 authorization. Diluted weighted-average shares fell to 217.7 million from 228.4 million, which is part of why EPS grew faster than net income of $218 million, up 42.5%. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.
Consensus and guidance at US Foods
US Foods gives a full-year outlook in its release, as growth rates. With Q3 fiscal 2026 results it narrowed fiscal 2026 guidance to net sales growth of 4% to 5% (from 4% to 6%), Adjusted EBITDA growth of 9% to 11% (from 9% to 13%) and Adjusted Diluted EPS growth of 18% to 20% (from 18% to 24%). The outlook includes a 53rd week, which US Foods expects to add approximately 1% to case growth and Adjusted EBITDA growth. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
US Foods' CFO said the tightened outlook reflects a sustained slower macroeconomic environment and the impact of elevated fuel costs. The company does not reconcile the Adjusted EBITDA and Adjusted Diluted EPS outlook to GAAP. (US Foods Q3 fiscal 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)
A consensus figure is the average of the models published by the analysts who cover US Foods, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.
The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.
The numbers analysts watch at US Foods
The figures below are the ones US Foods's own release and filings put weight on for Q3 fiscal 2026, with the latest reported value for each.
| Metric | Latest reported |
|---|---|
| Independent restaurant case volume | Up 5.0% Total case volume up 1.3%; chain volume down 1.5% |
| Adjusted EBITDA | $555 million, up 9.9% Adjusted EBITDA margin 5.3%, up 38 basis points |
| Food cost inflation | 0.4% |
| Gross profit margin | 18.3% of net sales Gross profit $1,904 million, up 8.6% |
| Net Debt to Adjusted EBITDA | 2.4x 2.7x at the end of fiscal 2025; Net Debt $5.1 billion |
| Share repurchases | $191 million in the quarter $690 million in the first nine months |
What the quarter means for a holding is a separate question from what it reported. The case for and against owning USFD is on is USFD a buy or a sell?, what analysts expect next is on the USFD forecast, and what the company does is on the US Foods Holding Corp. (USFD) stock page.
How to check USFD's figures yourself
Every number on this page can be traced to a document US Foods published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.
- The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
- The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
- The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
- Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.
A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.
Your questions about US Foods
Ask Walnut's AI anything about USFD and see how it fits what you own.
FAQ
What was US Foods's revenue last quarter?
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US Foods reported revenue of $10,402 million for Q3 fiscal 2026, the quarter ended September 26, 2026, against $10,191 million in Q3 fiscal 2025 (up 2%). The figures come from US Foods's results release of November 5, 2026.
What guidance did US Foods give for fiscal year 2026?
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In its Q3 fiscal 2026 release, US Foods said: "Net Sales growth of 4% to 5%, compared to previous guidance of 4% to 6% Adjusted EBITDA growth of 9% to 11%, compared to previous guidance of 9% to 13% Adjusted Diluted EPS growth of 18% to 20%, compared to previous guidance of 18% to 24% The guidance provided above includes the impact of a 53rd week in fiscal year 2026, which is expected to add approximately 1% to total case growth and Adjusted EBITDA growth." That is the company's own outlook as of Nov 5, 2026, and companies revise outlooks as the quarter goes on.
When does USFD report earnings next?
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We do not hold a confirmed date for US Foods's next report. Companies announce the date on their investor relations site a few weeks ahead, usually with the time of the call.
Where does US Foods's revenue come from?
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US Foods's Meats and seafood revenue was $3.7 billion in Q3 fiscal 2026, flat on $3.7 billion in Q3 fiscal 2025, 36% of total revenue. US Foods's Dry grocery products revenue was $1.8 billion in Q3 fiscal 2026, up 5% from $1.7 billion in Q3 fiscal 2025, 17% of total revenue. US Foods's Refrigerated and frozen grocery products revenue was $1.7 billion in Q3 fiscal 2026, up 3% from $1.7 billion in Q3 fiscal 2025, 17% of total revenue. US Foods's Dairy revenue was $1.0 billion in Q3 fiscal 2026, down 6% from $1.1 billion in Q3 fiscal 2025, 10% of total revenue. US Foods's Equipment, disposables and supplies revenue was $987 million in Q3 fiscal 2026, up 10% from $898 million in Q3 fiscal 2025, 9% of total revenue. US Foods's Beverage products revenue was $651 million in Q3 fiscal 2026, up 7% from $610 million in Q3 fiscal 2025, 6% of total revenue. US Foods's Produce revenue was $521 million in Q3 fiscal 2026, up 2% from $509 million in Q3 fiscal 2025, 5% of total revenue. These are the lines of US Foods's own "net sales by product category" table for Q3 fiscal 2026.
How much did US Foods's revenue grow last quarter?
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Up 2% on the year: $10,402 million in Q3 fiscal 2026 against $10,191 million in Q3 fiscal 2025. That is the year-over-year comparison, the same quarter a year apart, so seasonal patterns in US Foods's business do not distort it.
What is the difference between US Foods's GAAP and Adjusted Diluted EPS EPS?
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GAAP EPS follows US accounting rules and is the figure in the audited statements. US Foods's Adjusted Diluted EPS EPS starts from it and removes items the company considers outside its operating results; the release lists each adjustment in a reconciliation table. For Q3 fiscal 2026 the two were $1.00 and $1.26. Analysts' EPS estimates are usually built on the adjusted figure, so check which one a headline compares before you repeat it.
Why is US Foods's quarter called Q3 fiscal 2026?
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US Foods's fiscal year does not follow the calendar year, so Q3 fiscal 2026 is the quarter that ended September 26, 2026. When you compare USFD with a company that reports on the calendar year, line quarters up by the date they ended, not by their names.
Where do the USFD numbers on this page come from?
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From US Foods's own results release and its Form 10-Q for the quarter ended September 26, 2026, copied as printed, in millions of US dollars. Percent changes are worked out from those figures and rounded to a whole percent, which matches how the release states them. Nothing on this page is an estimate except the consensus, which is labelled with its source and date.
Walnut is informational, not investment advice. Reported figures are copied from US Foods's results release and filings; consensus figures, where shown, are third-party estimates captured before the report. Verify figures against the source before relying on them.