Filing Flows › US Foods Holding (USFD) › Q2 2026 › vs Q1 2026
US Foods Holding (USFD) Q2 2026 vs Q1 2026 (quarter over quarter)
US Foods Holding's revenue rose $922M (+10%) from $9.6B in Q1 2026 to $10.5B in Q2 2026. The biggest changes: Meats and seafood +$359M (+11%); Dry grocery products +$127M (+8%); Dairy +$107M (+12%). Gross margin 18.2% against 17.2% (+1.0 pts).
US Foods Holding, Q2 2026: revenue $10.5B (+4% year over year), operating margin 4.2%, net earnings $275M, operating cash flow $431M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 18.2% | 17.2% | +1.0 pts |
| Operating margin | 4.2% | 2.2% | +2.0 pts |
| Net margin | 2.6% | 1.2% | +1.4 pts |
| Free cash flow margin | 3.4% | 2.0% | +1.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Meats and seafood | $3.8B | $3.4B | $359M | +11% |
| Dry grocery products | $1.8B | $1.7B | $127M | +8% |
| Refrigerated and frozen grocery products | $1.7B | $1.6B | $100M | +6% |
| Dairy | $1.0B | $918M | $107M | +12% |
| Equipment, disposables and supplies | $977M | $896M | $81.0M | +9% |
| Beverage products | $651M | $601M | $50.0M | +8% |
| Produce | $581M | $483M | $98.0M | +20% |
| Revenue | $10.5B | $9.6B | $922M | +10% |
| Gross profit | $1.9B | $1.7B | $266M | +16% |
| Cost of revenue | $8.6B | $8.0B | $656M | +8% |
| Operating profit | $443M | $216M | $227M | +105% |
| Operating expenses | $1.5B | $1.4B | $39.0M | +3% |
| Pre-tax earnings | $369M | $142M | $227M | +160% |
| Other expense, net | $74.0M | $74.0M | $0 | 0% |
| Net earnings | $275M | $116M | $159M | +137% |
| Income tax | $94.0M | $26.0M | $68.0M | +262% |
| Depreciation & amortization | $118M | $119M | −$1.0M | -0.8% |
| Share-based compensation | $32.0M | $22.0M | $10.0M | +45% |
| Working capital & other | $6.0M | $37.0M | −$31.0M | -84% |
| Operating cash flow | $431M | $294M | $137M | +47% |
| Free cash flow (OCF − capex) | $355M | $196M | $159M | +81% |
| Capital expenditures | $76.0M | $98.0M | −$22.0M | -22% |
Questions
How much did US Foods Holding's revenue grow quarter over quarter in Q2 2026?
US Foods Holding's revenue rose $922M (+10%) from $9.6B in Q1 2026 to $10.5B in Q2 2026.
What drove US Foods Holding's revenue change in Q2 2026?
Meats and seafood +$359M (+11%); Dry grocery products +$127M (+8%); Dairy +$107M (+12%).