Revenue during the quarter dropped 4.33 percent to $5,678 million from $5,935 million in the previous year period. Gross margin for the quarter contracted 8 basis points over the previous year period to 18.09 percent. Total expenses were 97.96 percent of quarterly revenues, down from 99.12 percent for the same period last year. This has led to an improvement of 117 basis points in operating margin to 2.04 percent.

Operating income for the quarter was $116 million, compared with $52 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $265 million compared with $255 million in the prior year period. At the same time, adjusted EBITDA margin improved 37 basis points in the quarter to 4.67 percent from 4.30 percent in the last year period.

“Our Great Food. Made Easy. strategy drove our strong performance, resulting in increased case volumes and improved profitability,” said Chief executive officer Pietro Satriano. “In our first year as a public company, we grew volumes with Independent Restaurant customers well above market rates and expanded profit margins in a challenging, deflationary environment. We also expanded both our broadline and specialty distribution capabilities through the successful integration of five acquisitions in the last year. Our focus on driving higher volumes with our targeted customers, expanding Gross profit, and reducing our operating costs resulted in full year Adjusted EBITDA above the high end of our guidance range.”

US Foods Holding Corp forecasts revenue to grow in the range of 1 percent to 3 percent for the fiscal year 2017. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $1.26 to $1.40 on adjusted basis.

The company has spent $762 million cash to meet investing activities during the year as against cash outgo of $271 million in the last year. It has incurred net capital expenditure of $147 million on net basis during the year, down 19.23 percent or $35 million from year ago.

The company has spent $180 million cash to carry out financing activities during the year as against cash outgo of $110 million in the last year period.

Cash and cash equivalents stood at $131 million as on Dec. 31, 2016, down 74.71 percent or $387 million from $518 million on Jan. 02, 2016.

Debt comes down
US Foods Holding Corp has recorded a decline in total debt over the last one year. It stood at $3,782 million as on Dec. 31, 2016, down 20.30 percent or $963 million from $4,745 million on Jan. 02, 2016.