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) will host over 70 customer engagement events this year to aid foodservice operators in overcoming challenges like labor shortages and rising costs. The US Foods Immersion and Fresh Perspectives events aim to provide innovative solutions and industry expertise. Key features include culinary demonstrations, hands-on technology introductions, and networking opportunities. These initiatives align with the company’s commitment to help operators optimize their businesses while managing food costs and improving operational efficiency.
US Foods Holding Corp. (NYSE: USFD) has entered a strategic partnership with Kalera, a leading hydroponic indoor vertical farming company. This relationship aims to deliver high-quality leafy greens year-round to foodservice operators, expanding US Foods' local farm portfolio, part of its Serve Local program. Kalera plans to allocate up to 50% of its US production capacity to this market. The partnership promises innovations in product offerings, utilizing advanced farming technologies for sustainable produce with reduced water usage compared to traditional farming methods.
US Foods announced the upcoming opening of a new CHEF’STORE in Spartanburg, S.C., expanding its retail footprint in the region. The 33,000-square-foot store will provide access to over 4,000 restaurant-quality products at competitive prices, aimed at restaurant operators and the general public. This location marks the fourth CHEF’STORE in South Carolina, joining existing stores in Charleston, Myrtle Beach, and Columbia. The Spartanburg store is set to open in Fall 2022, bringing the total number of CHEF’STORE locations nationwide to 83.
Toast (NYSE: TOST) has renewed its strategic partnership with US Foods (NYSE: USFD), enhancing their commitment to the restaurant industry. This partnership focuses on providing technology solutions to restaurant owners, aimed at saving time, boosting revenue, and improving customer experience. Toast's Chairman and CEO, Chris Comparato, emphasized the alignment of both companies in their mission to support restaurants. US Foods praised Toast for its innovative solutions crucial for their CHECK Business Tools program, which serves around 250,000 clients across the US.
US Foods Holding Corp. (USFD) reported its Q1 fiscal 2022 results, showcasing a 23.9% increase in net sales, reaching $7.8 billion. Total case volume rose 4.1%, driven by a 9.2% increase in independent restaurant case volume. Gross profit grew 19.1% to $1.2 billion, with an adjusted EBITDA increase of 40.1% to $241 million. Despite a net loss of $16 million, improved from the prior year, adjusted diluted EPS was $0.36. The company aims to bolster growth and operational efficiencies amid ongoing industry challenges.
US Foods Holding Corp. (NYSE: USFD) has addressed shareholder concerns regarding claims made by Sachem Head Capital Management in a letter for the upcoming 2022 Annual Meeting on May 18, 2022. The US Foods Board recommends voting for all its directors, emphasizing a one-year Total Shareholder Return (TSR) of 56%, outpacing industry peers. They refute allegations of poor margin improvements and capital allocation decisions, asserting strategic acquisitions and a focus on operational efficiency. The Board aims for $1.7 billion in Adjusted EBITDA by 2024, reinforcing their commitment to shareholder value.
US Foods Holding Corp. (NYSE: USFD) filed an investor presentation urging shareholders to vote for its qualified directors at the upcoming Annual Meeting on May 18, 2022. The presentation highlights US Foods’ strong track record of profitable growth, with a CAGR of 8.1% in Adjusted EBITDA pre-pandemic and promising forward-looking goals including $1.7 billion of Adjusted EBITDA by 2024. The Board consists of 11 experienced directors, actively ensuring corporate governance and focusing on ESG commitments. US Foods aims to return capital to shareholders while enhancing operational efficiency.
US Foods Holding Corp. (NYSE: USFD) reported strong preliminary results for Q1 2022, with net sales up 24% to $7.8 billion and adjusted EBITDA increasing 40% to $241 million. The company highlighted a 4% growth in total case volume and a significant improvement in net loss to $16 million. US Foods urges shareholders to vote for its board nominees amid a challenge from Sachem Head Capital Management, emphasizing the board’s qualifications and commitment to executing the company's long-term strategic plan aimed at enhancing shareholder value.
US Foods Holding Corp. (USFD) reported strong preliminary results for Q1 FY 2022, with net sales reaching $7.8 billion, a 24% increase year-over-year. Total case volume grew 4%, and independent restaurant case volume surged 9%.
Gross profit rose 19% to $1.2 billion. Adjusted EBITDA increased by 40% to $241 million, highlighting effective cost management despite a net loss available to common shareholders of $16 million. The company reaffirms its fiscal guidance for 2022, reflecting confidence in its long-range strategy.
US Foods Holding Corp. (NYSE: USFD) is accepting applications for its 2022 US Foods Scholars program until May 24. Since its launch in 2017, the program has awarded over $1 million in scholarships to 51 students. This year, 18 students will receive $20,000 scholarships to aid their culinary and hospitality education. The program also provides professional development opportunities through engagement with US Foods' culinary teams. Applications are open in select markets with a structured evaluation process.