US Foods Q2: Record Adjusted EBITDA, 5.1% Independent Case Growth, and $374M in Buybacks
USFD sits 43% above its 52-week low of $69.875.
Summary
US Foods posted Q2 FY2026 net sales of $10.5 billion, net income of $275 million, and record Adjusted EBITDA of $604 million. Independent restaurant case volume grew 5.1%, the company repurchased $374 million in shares, and full-year guidance was reaffirmed.
Key Events · Earnings and Guidance · USFD
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Record Adjusted EBITDA
Adjusted EBITDA reached $604 million, a 10.2% year-over-year increase, with margins expanding 29 basis points to 5.7%.
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Independent Restaurant Volume Growth
Independent restaurant case volume accelerated to 5.1%, propelling total case volume growth of 1.9%.
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Aggressive Share Repurchases
The company repurchased 4.4 million shares for $374 million in Q2, bringing the year-to-date total to $500 million; $640 million remains under authorization.
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Reaffirmed FY2026 Guidance
Management reaffirmed its outlook for net sales growth of 4-6%, Adjusted EBITDA growth of 9-13%, and Adjusted Diluted EPS growth of 18-24%.
Analysis · USFD · Trade & Services
A standout quarter for US Foods featured accelerating independent restaurant volume, record profitability, and aggressive share repurchases. Adjusted EBITDA climbed 10.2% to $604 million, while Adjusted Diluted EPS advanced 21% to $1.44. During the quarter, the company bought back $374 million in shares, lifting the year-to-date total to $500 million, and reaffirmed its full-year outlook. The results underscore sustained momentum in a challenging industry environment, with margin expansion and disciplined capital deployment supporting long-term shareholder returns.
At the time of this filing, USFD was trading at $100.15 on NYSE in the Trade & Services sector, with a market capitalization of approximately $22.1B. The 52-week trading range was $69.88 to $105.17. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.