US Foods Holding (USFD) Q3 FY2026 earnings: revenue $10.4 billion, up 2.1% on the year

US Foods Holding Corp. (USFD) reported revenue of $10.4 billion for Q3 FY2026, the quarter ended 26 September 2026, up 2.1% on the same quarter a year earlier. Net income was $218 million, up 42.5% on the year, and diluted earnings per share $1.00. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$10.4 billion

+2.1% on the year · -1.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

3.6%

2.8% a year earlier

Q4 FY2024Q3 FY2026

Net income

$218 million

+42.5% on the year · -20.7% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$1.00

+49.3% on the year · -19.4% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 narrowed, 1 kept.

Net sales rose 2.1%: Net sales rose 2.1% to $10.4 billion, with case volume growth and food cost inflation of 0.4% as the stated drivers.
Adjusted EBITDA rose 9.9%: Adjusted EBITDA rose 9.9% to $555 million, compared with $505 million a year earlier.
Full-year ranges narrowed on all three: Net sales, Adjusted EBITDA and Adjusted Diluted EPS growth ranges were each narrowed. Upper ends came down from 6%, 13% and 24%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	10,402	10,532	10,191	-1.2%	+2.1%
Cost of revenue	8,498	8,613	8,438	-1.3%	+0.7%
Gross profit	1,904	1,919	1,753	-0.8%	+8.6%
Gross margin	18.3%	18.2%	17.2%
Selling, general and administrative	1,499	1,477	1,458	+1.5%	+2.8%
Operating income	371	443	282	-16.3%	+31.6%
Operating margin	3.6%	4.2%	2.8%
Interest expense	78.0	77.0	76.0	+1.3%	+2.6%
Pre-tax income	293	369	206	-20.6%	+42.2%
Income tax	75.0	94.0	53.0	-20.2%	+41.5%
Effective tax rate	25.6%	25.5%	25.7%
Net income	218	275	153	-20.7%	+42.5%
Net margin	2.1%	2.6%	1.5%
Diluted EPS	$1.00	$1.24	$0.67	-19.4%	+49.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	435	431	351	+0.9%	+23.9%
Capital expenditure	92.0	76.0	115	+21.1%	-20.0%
Free cash flow	343	355	236	-3.4%	+45.3%
Free cash flow margin	3.3%	3.4%	2.3%
Cash from investing	-89.0	-78.0	-114
Cash from financing	-348	-346	-242
Depreciation and amortisation	123	118	118	+4.2%	+4.2%
Share-based compensation	22.0	32.0	19.0	-31.2%	+15.8%
Buybacks	190	370	332	-48.6%	-42.8%
Diluted shares, weighted	218m	221m	228m	-1.5%	-4.7%
Shares outstanding at period end	215m	216m	225m	-0.7%	-4.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	4,335	4,279	4,471	+1.3%	-3.0%
Debt	5,104	5,237	4,952	-2.5%	+3.1%
Other liabilities	4,925	4,820	4,621	+2.2%	+6.6%
Total liabilities and equity	14,364	14,336	14,044	+0.2%	+2.3%
Fixed assets	2,735	2,713	2,626	+0.8%	+4.2%
Goodwill	5,796	5,796	5,767	0.0%	+0.5%
Intangible assets	737	753	787	-2.1%	-6.4%
Cash and equivalents	54.0	56.0	56.0	-3.6%	-3.6%
Receivables	2,249	2,228	2,192	+0.9%	+2.6%
Inventory	1,730	1,703	1,695	+1.6%	+2.1%
Other assets	1,063	1,087	921	-2.2%	+15.4%
Total assets	14,364	14,336	14,044	+0.2%	+2.3%

Questions

What was US Foods Holding's revenue in Q3 FY2026?

US Foods Holding (USFD) reported revenue of $10.4 billion for Q3 FY2026, the quarter ended 26 September 2026, up 2.1% on the same quarter a year earlier.

How much did US Foods Holding earn in Q3 FY2026?

Net income for Q3 FY2026 was $218 million, up 42.5% on the year, and diluted earnings per share $1.00.

When did US Foods Holding report Q3 FY2026 results?

US Foods Holding filed its 10-Q for the quarter ended 26 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	7,639	7,798	8,827	8,917	8,515	8,542	9,013	9,106	8,936	8,949	9,709	9,728	9,491	9,351	10,082	10,191	9,800	9,610	10,532	10,402
Cost of revenue	6,397	6,603	7,444	7,457	7,061	7,117	7,422	7,564	7,346	7,454	8,003	8,061	7,825	7,737	8,305	8,438	8,080	7,957	8,613	8,498
Gross profit	1,242	1,195	1,383	1,460	1,454	1,425	1,591	1,542	1,590	1,495	1,706	1,667	1,666	1,614	1,777	1,753	1,720	1,653	1,919	1,904
Gross margin	16%	15%	16%	16%	17%	17%	18%	17%	18%	17%	18%	17%	18%	17%	18%	17%	18%	17%	18%	18%
SG&A	1,105	1,161	1,233	1,246	1,246	1,238	1,269	1,312	1,298	1,317	1,354	1,379	1,362	1,385	1,403	1,458	1,386	1,429	1,477	1,499
Operating income	137	34.0	150	214	196	187	322	230	278	165	353	279	302	224	372	282	321	216	443	371
Operating margin	2%	0%	2%	2%	2%	2%	4%	3%	3%	2%	4%	3%	3%	2%	4%	3%	3%	2%	4%	4%
Interest expense	55.0	55.0	60.0	65.0	75.0	81.0	82.0	81.0	80.0	79.0	81.0	75.0	80.0	77.0	74.0	76.0	78.0	75.0	77.0	78.0
Pre-tax income	89.0	-15.0	95.0	154	127	107	242	129	200	87.0	269	201	87.0	148	300	206	244	142	369	293
Tax rate	22%	n/a	26%	29%	27%	23%	25%	26%	26%	6%	26%	26%	24%	22%	25%	26%	25%	18%	25%	26%
Net income	69.0	-7.0	70.0	109	93.0	82.0	182	95.0	147	82.0	198	148	66.0	115	224	153	184	116	275	218
Net margin	1%	-0%	1%	1%	1%	1%	2%	1%	2%	1%	2%	2%	1%	1%	2%	2%	2%	1%	3%	2%
Diluted EPS	$0.28	-$0.07	$0.27	$0.43	$0.37	$0.32	$0.73	$0.38	$0.59	$0.33	$0.80	$0.61	$0.28	$0.49	$0.96	$0.67	$0.82	$0.52	$1.24	$1.00
Operating cash flow	-101	158	101	354	152	279	374	282	205	139	482	270	283	391	334	351	293	294	431	435
Capital expenditure	101	72.0	71.0	58.0	64.0	61.0	47.0	59.0	142	87.0	69.0	80.0	105	84.0	77.0	115	134	98.0	76.0	92.0
Free cash flow	-202	86.0	30.0	296	88.0	218	327	223	63.0	52.0	413	190	178	307	257	236	159	196	355	343
Buybacks	n/a	0.0	0.0	0.0	14.0	34.0	166	29.0	65.0	13.0	41.0	574	320	23.0	247	332	324	75.0	370	190
Shares outstanding	223m	224m	224m	225m	225m	233m	233m	246m	253m	246m	246m	235m	230m	231m	228m	225m	220m	220m	216m	215m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 26 September 2026, filed 5 November 2026: the filing.