Filing Flows › US Foods Holding (USFD) › Q3 2026 › vs Q2 2026
US Foods Holding (USFD) Q3 2026 vs Q2 2026 (quarter over quarter)
US Foods Holding's revenue fell $130M (-1%) from $10.5B in Q2 2026 to $10.4B in Q3 2026. The biggest changes: Meats and seafood −$74.0M (-2%); Produce −$60.0M (-10%); Dairy −$11.0M (-1%). Gross margin 18.3% against 18.2% (+0.1 pts).
US Foods Holding, Q3 2026: revenue $10.4B (+2% year over year), operating margin 3.6%, net earnings $218M, operating cash flow $435M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 18.3% | 18.2% | +0.1 pts |
| Operating margin | 3.6% | 4.2% | -0.6 pts |
| Net margin | 2.1% | 2.6% | -0.5 pts |
| Free cash flow margin | 3.3% | 3.4% | -0.1 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Meats and seafood | $3.7B | $3.8B | −$74.0M | -2% |
| Dry grocery products | $1.8B | $1.8B | $9.0M | +0.5% |
| Refrigerated and frozen grocery products | $1.7B | $1.7B | −$4.0M | -0.2% |
| Dairy | $1.0B | $1.0B | −$11.0M | -1% |
| Equipment, disposables and supplies | $987M | $977M | $10.0M | +1% |
| Beverage products | $651M | $651M | $0 | 0% |
| Produce | $521M | $581M | −$60.0M | -10% |
| Revenue | $10.4B | $10.5B | −$130M | -1% |
| Gross profit | $1.9B | $1.9B | −$15.0M | -0.8% |
| Cost of revenue | $8.5B | $8.6B | −$115M | -1% |
| Operating profit | $371M | $443M | −$72.0M | -16% |
| Operating expenses | $1.5B | $1.5B | $57.0M | +4% |
| Pre-tax earnings | $293M | $369M | −$76.0M | -21% |
| Other expense, net | $78.0M | $74.0M | $4.0M | +5% |
| Net earnings | $218M | $275M | −$57.0M | -21% |
| Income tax | $75.0M | $94.0M | −$19.0M | -20% |
| Depreciation & amortization | $123M | $118M | $5.0M | +4% |
| Share-based compensation | $22.0M | $32.0M | −$10.0M | -31% |
| Working capital & other | $72.0M | $6.0M | $66.0M | 12× |
| Operating cash flow | $435M | $431M | $4.0M | +0.9% |
| Free cash flow (OCF − capex) | $343M | $355M | −$12.0M | -3% |
| Capital expenditures | $92.0M | $76.0M | $16.0M | +21% |
Questions
How much did US Foods Holding's revenue grow quarter over quarter in Q3 2026?
US Foods Holding's revenue fell $130M (-1%) from $10.5B in Q2 2026 to $10.4B in Q3 2026.
What drove US Foods Holding's revenue change in Q3 2026?
Meats and seafood −$74.0M (-2%); Produce −$60.0M (-10%); Dairy −$11.0M (-1%).