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. reported strong fiscal results for 2021, with net sales increasing 28.8% to $29.5 billion. Fourth-quarter net sales rose 24.5% to $7.6 billion. Total case volume grew 16.9%, driven by increased restaurant traffic post-COVID restrictions. Adjusted EBITDA surged 63.1% to $1,057 million. The company expects Adjusted EBITDA of $1.2-$1.3 billion for fiscal 2022, with a long-term goal of $1.7 billion by 2024. CEO Pietro Satriano highlighted resilience amid supply chain challenges and a focus on profitable growth.
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US Foods has declined the offer from Sachem Head Capital Management to appoint Bernardo Hees as Executive Chairman. This decision follows concerns regarding Hees’ previous leadership, including issues at Kraft Heinz that led to significant financial impairments and legal challenges. US Foods aims to enhance shareholder value by adding new directors with relevant experience and expanding its market share post-pandemic. The company remains committed to transparent governance and will present recommendations at its upcoming annual meeting.
US Foods Holding Corp. (NYSE: USFD) has announced the separation of the roles of Chief Executive Officer and Chair, appointing Robert M. Dutkowsky as non-executive Chair. Pietro Satriano remains as CEO. This decision follows a governance review and reflects the company's commitment to corporate governance best practices. Additionally, Cheryl A. Bachelder and Ann E. Ziegler have been elected as Chairs of the Compensation and Nominating & Corporate Governance Committees, respectively. Shareholders are encouraged to review upcoming proxy statements for critical information.
US Foods Holding Corp. (NYSE: USFD) plans to open two new CHEF’STORE locations in Visalia, CA, and Lynchburg, VA, enhancing its retail presence. The Visalia store, spanning 30,000 square feet, will offer over 5,000 products and is set to launch on February 19, 2022. The Lynchburg store will be 24,000 square feet with more than 4,500 products, opening in spring 2022. These expansions aim to cater to restaurant operators and consumers seeking quality products at wholesale prices, further solidifying US Foods' foothold in the cash and carry market.
US Foods Holding Corp. (NYSE: USFD) is set to hold a live conference call on February 17, 2022, at 9 a.m. CST to discuss its fourth quarter and fiscal year 2021 results. Investors can access the call by dialing (844) 292-0976, using conference ID 5561796. A replay will be available from 12 p.m. CST on the same day until March 17, 2022. The call will also be webcast on the company’s Investor Relations website.
US Foods is a leading foodservice distributor, partnering with around 300,000 restaurants and operators across the nation.
US Foods Holding Corp. (NYSE: USFD) has announced a donation of $30,000, equating to nearly 300,000 meals, to Feeding America as part of its Giving Gratitude holiday campaign. This initiative complements the over $20 million in product donations made in 2021 to food banks nationwide, aiding local communities in hunger relief. The campaign also encourages associate engagement via personal contributions and gratitude expressions, aligning with the company's ongoing commitment to fighting food insecurity.
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US Foods Holding Corp. (NYSE: USFD) will participate in a fireside chat at the Barclays Eat, Sleep, Play Conference on Wednesday, December 1, at 8:15 a.m. EST. Chairman and CEO Pietro Satriano and CFO Dirk Locascio will provide a business update. Investors and media can access a live audio webcast through 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, partnering with approximately 300,000 restaurants nationwide.
US Foods Holding Corp. (NYSE: USFD) announced a private offering of $500 million in 4.625% senior unsecured notes due 2030. The offering is set to close on November 22, 2021, subject to customary conditions. Proceeds will be used to repay some outstanding term loans due June 27, 2023, and cover related expenses. The notes will be offered only to qualified institutional buyers and foreign persons under the Securities Act exemptions. US Foods expects to manage the remaining term loans through a new loan facility and cash on hand.