US Foods Holding Corp. reports developments as a U.S. foodservice distributor serving restaurants, hospitality operators and other foodservice customers with fresh, frozen and dry food, nonfood products, e-commerce tools and business solutions. Recurring updates cover quarterly earnings, case volume, sales, profitability, cash flow, capital expenditures and share repurchases, along with distribution-network investments.
Company news also includes product and service launches such as Scoop exclusive-brand lineups, Menu IQ within the MOXē platform, and SIGNATURE tools for hospitality operators. Other recurring themes include customer programs, culinary scholarship initiatives and investor conference communications.
US Foods Holding Corp. (NYSE: USFD) is accepting applications for its 2023 US Foods Scholars program until May 10. Since its inception in 2017, the program has awarded over $1.3 million in scholarships to 67 students, focusing on fostering diversity in the culinary field. This year, 18 scholarships of $20,000 each will be awarded to students in nine markets, covering education-related expenses. The application process evaluates academic performance and financial need, aiming to support the next generation of culinary professionals.
US Foods Holding Corp. (NYSE: USFD) has appointed Andrew Iacobucci as Senior Executive Vice President, Field Operations, and Chief Commercial Officer, effective immediately. In this role, he will oversee local sales, commercial excellence, merchandising, and more, reporting directly to CEO Dave Flitman. Iacobucci, who joined US Foods in 2017, previously served as Chief Transition Officer and Interim CEO. He expressed enthusiasm for his new responsibilities and aims to build on the company's strong trajectory. US Foods collaborates with approximately 250,000 restaurants and foodservice operators, providing innovative food offerings and comprehensive business solutions.
US Foods has launched its Spring 2023 Scoop™, themed "Stand Out from the Crowd," featuring 20 innovative menu items. These new offerings aim to help foodservice operators refresh their menus with unique twists on classic favorites and globally influenced flavors. According to Stacey Kinkaid, 76% of diners are seeking the next food trend, motivating this launch. The products are designed to save at least 30 minutes of labor per case compared to traditional preparations. Key highlights include Chef’s Line® All-Natural Pollo Asado and Harbor Banks® Hard Cider Battered Shrimp, appealing to diverse consumer tastes.
US Foods Holding Corp. (NYSE: USFD) announced that CFO Dirk Locascio will participate in a fireside chat at the J.P. Morgan Gaming, Lodging, Restaurant and Leisure Management Access Forum on Tuesday, March 14, at 9:45 a.m. PDT (11:45 a.m. CDT). Media and investors can access a live audio webcast on the company's Investor Relations page at https://ir.usfoods.com with a replay available later that day.
US Foods is a leading foodservice distributor in the U.S., partnering with approximately 250,000 restaurants and foodservice operators. The company, headquartered in Rosemont, Ill., offers a broad range of food products and innovative business solutions.
US Foods Holding Corp. (NYSE: USFD) reported robust fourth quarter and fiscal year 2022 results, showcasing a 15.5% increase in net sales to $34.1 billion and a 33.6% growth in adjusted EBITDA, reaching $1.31 billion. The fourth quarter net sales reached $8.5 billion, up 11.5% year-over-year. The company benefited from a 5.8% rise in independent restaurant case volume, despite a 5.8% decline in chain volume. Operating expenses rose 15.8% to $4.9 billion, primarily due to higher labor costs. The company's net debt decreased to $4.6 billion, with a leverage ratio of 3.5x. For 2023, US Foods provided an adjusted EBITDA guidance of $1.45-$1.51 billion.
US Foods announced the addition of battery-electric Freightliner eCascadia trucks to its La Mirada, California distribution center, reinforcing its commitment to sustainability.
The company aims to reduce absolute Scopes 1 and 2 greenhouse gas emissions by 32.5% by 2032 from 2019 levels, with plans for 30 electric trucks in 2023. The electric trucks will also decrease harmful emissions in Southern California.
Supported by various environmental programs, the trucks feature advanced technology for efficient regional deliveries while maintaining zero tailpipe emissions.
org value="NYSE:USFD"US Foods Holding Corp. has added two technology solutions, Bear Robotics and 7shifts, to its CHECK® Business Tools program aimed at enhancing efficiency for foodservice operators. The inclusion follows their participation in US Foods' Innovative Partnerships incubator, which evaluated over 20 tech companies. Bear Robotics introduces 'Servi', a hospitality robot designed to assist staff by running food and drinks, while 7shifts offers a comprehensive management platform that streamlines scheduling and team communication. These innovative tools aim to address labor challenges and improve operational efficiency across the restaurant industry.
US Foods Holding Corp. (NYSE: USFD) announced it will hold a live conference call to discuss its fourth quarter and fiscal year 2022 financial results on February 16, 2023, at 9 a.m. CST. Interested listeners can join by calling 877-344-2001 and should dial in 10 minutes prior to the start time. The call will also be available via webcast on the company's Investor Relations website. A replay of the call will be accessible shortly after it concludes. US Foods is one of America’s leading foodservice distributors, serving approximately 250,000 restaurants and foodservice operators.
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US Foods has appointed Dave Flitman as its new CEO, effective January 5, 2023. With over 35 years of experience in food distribution and supply chain management, Flitman aims to enhance the company's operational excellence and growth strategy. He previously led Builders FirstSource and has extensive experience in foodservice distribution as CEO of Performance Foodservice. Executive Chairman Bob Dutkowsky expressed confidence in Flitman's ability to deliver shareholder value and foster a thriving culture.