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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.
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.
US Foods Holding Corp. (NYSE: USFD) has announced that its Chief Financial Officer, Dirk Locascio, will participate in a fireside chat at the Piper Sandler Growth Frontiers Conference in Nashville, Tennessee. The event is scheduled for Wednesday, September 11, at 10 a.m. CDT.
Interested parties can access a live audio webcast of the presentation through the Investor Relations page on the US Foods website. For those unable to attend or listen live, a replay of the webcast will be made available later on the same day.
This participation in the conference provides an opportunity for investors and analysts to gain insights into US Foods' financial strategies and growth prospects directly from the company's CFO.
US Foods Holding Corp. (NYSE: USFD) announced that 20 of its drivers have been inducted into the International Foodservice Distributors Association (IFDA) Truck Driver Hall of Fame for 2024. This prestigious honor recognizes drivers with exceptional safety records and long service in the foodservice industry. The inductees, with service ranging from 25 to 46 years, will be honored at the IFDA Distribution Solutions Conference in September 2024.
To be eligible, drivers must have at least 25 years of employment with an IFDA member company, no chargeable accidents, and no moving violations in the past five years. US Foods CEO Dave Flitman emphasized the company's commitment to safety and praised the drivers' dedication. Since 2018, IFDA has inducted 68 US Foods drivers into the Hall of Fame.
US Foods Holding Corp. (NYSE: USFD) has announced a $211 million repurchase of its common shares from Sachem Head Capital Management LP. The repurchase, at $52.28 per share, is part of the company's $1 billion share repurchase program authorized on June 1, 2024. After this transaction, approximately $691 million remains in the authorized fund.
CEO Dave Flitman expressed confidence in the company's strategy and ability to execute its long-range plan. US Foods aims to generate profitable growth, capture market share, and be more aggressive in buying back shares. Sachem Head's founder, Scott Ferguson, praised US Foods' progress and expressed confidence in its future growth.
Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) has announced a new collaboration with US Foods Holding Corp. (NYSE: USFD), integrating Lightspeed Restaurant technology into US Foods' CHECK Business Tools program. This partnership will make Lightspeed's advanced POS solutions available to thousands of restaurants and foodservice operators across the United States.
Key benefits for US Foods customers include exclusive offers on Lightspeed POS hardware, advanced insights to boost sales and improve customer service, and multi-location management capabilities. The collaboration aims to help restaurant operators streamline operations, increase profitability, and enhance customer experiences.
This partnership represents a significant milestone for Lightspeed, potentially expanding its reach in the U.S. restaurant industry and setting a new standard for dining technology solutions.
US Foods Holding Corp. (NYSE: USFD) reported strong Q2 FY2024 results, with net sales up 7.7% to $9.7 billion and gross profit increasing 7.2% to $1.7 billion. The company achieved record Adjusted EBITDA of $489 million and a record Adjusted EBITDA margin of 5.0%. Key highlights include:
- Net income increased 8.8% to $198 million
- Total case volume grew 5.2%, with independent restaurant case volume up 5.7%
- Diluted EPS rose 9.6% to $0.80; Adjusted Diluted EPS up 17.7% to $0.93
- Net leverage reduced to 2.6x
- $41 million in share repurchases
US Foods reiterated its FY2024 guidance, projecting net sales of $37.5-$38.5 billion and Adjusted EBITDA of $1.69-$1.74 billion. The company also outlined its 2025-2027 financial targets, aiming for 5% sales CAGR and 10% Adjusted EBITDA CAGR.
US Foods Holding Corp. (NYSE: USFD) is set to host a live conference call and webcast on August 8, 2024, at 8 a.m. CDT to discuss its second quarter 2024 financial results. Interested parties can access the call by dialing 877-344-2001 and providing the ID 2528845. Participants are advised to dial in 10 minutes before the start time. A replay of the call will be available, and the webcast can be accessed through US Foods' Investor Relations website. Presentation slides will be available in the Events & Presentations section of the site before the webcast starts. The webcast archive will be accessible from 12 p.m. CDT on the same day.
US Foods (NYSE: USFD) announced a $250,000 partnership with the Military Family Advisory Network (MFAN) to combat food insecurity affecting over 25% of active-duty military families. This initiative, part of US Foods' 'Helping Communities Make It' program, will support MFAN's Pantry Restock Box and Fresh Funds stipends programs. These programs aim to provide essential groceries and financial assistance to military families, especially those relocating frequently. The collaboration also includes supporting MFAN's Solutions Summit, which seeks actionable solutions for military and veteran communities.
US Foods Holding Corp. (NYSE: USFD) held its 2024 Investor Day, revealing its financial targets for 2025-2027. CEO Dave Flitman highlighted the company's commitment to shareholder value, supported by a $1 billion share repurchase program. The event included presentations and Q&A sessions with the executive team. US Foods aims for net sales of $43.0-$45.0 billion, adjusted EBITDA of $2.2-$2.3 billion, and adjusted diluted EPS of $5.20-$5.70 by fiscal 2027. For fiscal 2024, the company reaffirmed its guidance with net sales of $37.5-$38.5 billion, adjusted EBITDA of $1.69-$1.74 billion, and adjusted diluted EPS of $3.00-$3.20. The company is also exploring strategic alternatives for its CHEF’STORE retail business.
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