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US Foods Holding Corp. (NYSE: USFD) is one of America’s leading foodservice distributors, renowned for its expansive offerings and significant industry impact. Headquartered in Rosemont, Illinois, US Foods collaborates with approximately 250,000 chefs, restaurateurs, and foodservice operators nationwide to support their business success.
The company boasts a robust infrastructure, including nearly 25,000 employees and more than 60 locations. US Foods provides its customers not only with a wide array of innovative food products but also offers a comprehensive suite of e-commerce, technology, and business solutions. This dual approach positions US Foods as a critical partner in the foodservice industry.
US Foods' revenue streams are diverse, with a significant portion derived from meats and seafood products. Additionally, the company supplies a variety of food and non-food items to sectors such as healthcare, hospitality, education, government facilities, and grocers. To further extend their reach, US Foods operates 80 cash-and-carry stores under the Chef'Store banner.
With annual revenues of approximately $23 billion, US Foods is committed to delivering fresh, quality food products and innovative solutions. Their motto, 'Great Food. Made Easy.', underscores their dedication to simplifying the foodservice process for their customers.
Recent achievements highlight US Foods' ongoing growth and innovation. The company continuously invests in technology to enhance their e-commerce capabilities, aiming to provide seamless service and efficiency to their partners. Furthermore, US Foods actively seeks to expand its product portfolio, ensuring a broad and appealing selection for various foodservice needs.
For more detailed information and the latest updates, visit www.usfoods.com.
US Foods Holding Corp. (NYSE: USFD) has announced that Chief Financial Officer Dirk Locascio will participate in a fireside chat at the Morgan Stanley Global Consumer & Retail Conference in New York. The event is scheduled for Tuesday, December 3, at 11:00 a.m. EST. A live audio webcast will be available on the company's Investor Relations webpage, with a replay accessible later the same day.
US Foods (NYSE: USFD) has announced its 2024 class of US Foods Scholars, expanding the program nationwide for the first time. The company selected 18 students from 10 schools pursuing degrees in culinary arts, baking and pastry, chef training, or business management. Each scholar will receive a $20,000 scholarship and development opportunities with US Foods culinary professionals.
The program, launched in 2017, has provided over $2 million in scholarships to more than 100 students, with over 30 currently active scholars. This initiative aims to address the restaurant industry's talent shortage, where 45% of operators report needing more employees to meet customer demand according to the National Restaurant Association.
US Foods reported strong Q3 FY2024 results with net sales increasing 6.8% to $9.7 billion and gross profit rising 8.1% to $1.7 billion. The company achieved a 55.8% increase in net income to $148 million and grew Adjusted EBITDA 13.2% to $455 million. Total case volume increased 3.8%, with independent restaurant case volume up 4.1%. The company repurchased $580 million of shares during the quarter. Despite a softer macro environment and weather-related challenges, US Foods maintained strong performance, marking its 14th consecutive quarter of market share gains with independent restaurants.
US Foods Holding Corp. (NYSE: USFD) has announced a live conference call and webcast to discuss its third quarter 2024 financial results. The event is scheduled for Thursday, November 7, 2024, at 8 a.m. CST. Interested parties can access the call by dialing 877-344-2001 and providing the Conference ID 2528845. Listeners are advised to dial in 10 minutes before the call starts.
A replay of the conference call will be available after the event, and registration for the replay can be done through a provided link. Additionally, the company will webcast the event live on its Investor Relations website at https://ir.usfoods.com. Presentation slides for the webcast will be accessible in the Events & Presentations section of the website prior to the event. An archive of the webcast will be available at the same location starting at 12 p.m. CST on November 7, 2024.
US Foods has released its 2024 Diner Dispatch survey, revealing significant shifts in American dining preferences. Key findings include:
1. 55% prefer dining at restaurants over takeout or delivery, up from 43% in 2023.
2. Average monthly spend on dining out increased to $191 in 2024, from $166 in 2023.
3. Women now spend 33% more than men on average per month, reversing the 2023 trend.
4. Casual dining remains the most popular choice, increasing to 69% from 63% in 2023.
5. Diners are willing to wait up to 26 minutes without a reservation, up from 20 minutes in 2023.
6. 90% prefer print menus over QR codes, a significant increase across all generations.
The survey aims to help operators make informed decisions to meet diner expectations and improve the in-restaurant experience.
US Foods Holding Corp. (NYSE: USFD) has announced that its subsidiary, US Foods, Inc., has priced a private offering of $500 million in senior unsecured notes due 2033 with a 5.75% interest rate. The company plans to use the net proceeds to repay a portion of its outstanding term loan facility. The notes will be senior unsecured obligations of US Foods and guaranteed by its existing and future wholly-owned domestic subsidiaries that guarantee its term loan credit facility. The closing is scheduled for October 3, 2024, subject to customary conditions. The offering is exempt from SEC registration requirements and is only available to qualified institutional buyers in the US and certain non-US persons.
US Foods Holding Corp. (NYSE: USFD) has announced that its subsidiary, US Foods, Inc., plans to offer $500 million in senior unsecured notes due 2033, subject to market conditions. The company intends to use the net proceeds to repay a portion of its term loan facility. The notes will be offered privately to qualified institutional buyers in the US under Rule 144A and internationally under Regulation S of the Securities Act.
The offering is exempt from registration requirements, and the notes have not been registered under the Securities Act or state securities laws. This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation to purchase the notes. The company cannot guarantee that the offering will be completed as proposed or at all.
US Foods Holding Corp. (NYSE: USFD) has launched its Fall 2024 Scoop™, featuring 24 new on-trend products designed to help operators reduce costs and differentiate their menus. The new lineup, themed 'Bar and Grill and Beyond,' addresses operator concerns about rising labor and food costs while attracting new customers. 10 products are part of the company's 'Serve You' portfolio, offering plant-forward, gluten-free certified, or clean ingredient options. Highlights include:
1. Chef's Line® All-Natural Cuban-Inspired Ropa Vieja
2. Chef's Line® All Natural Smoked Pork Butt
3. Chef's Line® Battered Ricotta and Mascarpone Filled Zucchini Blossoms
4. Cross Valley Farms® Hibiscus Infused Fruit Blend
5. del Pasado® Shredded Mexican-Style Three Cheese Blend
6. Devonshire® Cookie Butter Banana Pie
These products aim to save labor time, offer versatility, and cater to evolving diner preferences.
Imperial Dade, a leading North American distributor of foodservice packaging supplies, industrial products, and janitorial supplies, has appointed Fareed Khan as Chief Financial Officer, effective September 9, 2024. Khan brings over two decades of leadership experience, having previously served as CFO at JustFoodForDogs, Kellogg (NYSE: K), and US Foods. At Imperial Dade, Khan will oversee Accounting, Finance, Tax, Internal Audit, and Shared Services functions.
Khan's appointment is expected to strengthen Imperial Dade's financial strategies and support its continued growth. His experience in scaling distribution businesses and enhancing financial infrastructure aligns with the company's expansion goals. CEO Jason Tillis expressed enthusiasm about Khan's addition to the team, highlighting his strategic and financial acumen as key assets for driving Imperial Dade's robust growth.
US Foods Holding Corp. (NYSE: USFD) has announced an expanded partnership with Feeding America®, donating $750,000 to expand the innovative Direct to Neighbor locker project into seven additional communities by the end of 2024. This project allows community members facing food insecurity to place customized grocery orders online for pickup in convenient locations, offering a more dignified and accessible hunger-relief solution.
The donation, US Foods' largest single monetary contribution to date, builds on the company's commitment to hunger relief, following over $12 million in product donations to Feeding America food banks in 2023. The expansion will benefit food banks across Wisconsin, Florida, Oklahoma, South Carolina, Illinois, Ohio, and Florida, implementing refrigerated, frozen, and non-temperature-controlled lockers in community locations.
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