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) announced a private offering of $500 million in senior unsecured notes due in 2030, initiated by its subsidiary, US Foods. The proceeds will be allocated primarily to repay a portion of the company's 2023 Term Loans maturing on June 27, 2023, along with covering related fees and expenses. These notes will be offered under exemptions from the Securities Act, with no guarantees of the offering's final terms or consummation.
US Foods Holding Corp. (NYSE: USFD) reported strong third quarter results for fiscal 2021, with net sales rising 34.9% to $7.9 billion. Total case volume increased by 18.5%, and independent restaurant case volume surged by 25.1%. Gross profit was up 27.4% to $1.2 billion, while adjusted EBITDA increased by 39.2% to $291 million. Net income available to common shareholders reached $55 million, with diluted EPS at $0.24. The company's solid performance was supported by robust restaurant traffic and food cost inflation of 11.5%. Despite ongoing supply chain challenges, US Foods is optimistic about future growth.
US Foods has been honored in Fast Company's inaugural Brands That Matter list for its innovative programs supporting independent restaurants through the pandemic. The honor highlights the company's commitment to helping restaurateurs thrive despite challenges. Key initiatives include deploying Restaurant Operations Consultants for real-time support, creating a Restaurant Reopening Blueprint, and introducing the Ghost Kitchen Playbook. With a presence across the U.S., US Foods continues to support around 300,000 foodservice operators, emphasizing its role in the food industry.
US Foods Holding Corp. (NYSE: USFD) will host a conference call on November 8, 2021 at 9 a.m. CST to discuss its third quarter fiscal 2021 results. Investors can participate by dialing (844) 292-0976, using conference ID 9696933. A replay will be available after the call. The webcast will be accessible through the company’s Investor Relations website, with presentation slides provided beforehand. US Foods is a leading foodservice distributor in America, serving around 300,000 restaurants and operators.
US Foods has announced its commitment to fight hunger by donating the equivalent of over $200,000 to various organizations including org value="ACORN:3648299192"Feeding America as part of Hunger Action Month. This initiative includes providing more than 240,000 meals and raising $16,000 in product donations for additional hunger organizations. The company's efforts are aimed at supporting communities impacted by food insecurity and recent disasters, including Hurricane Ida.
US Foods has launched its 10th annual edition of Fall Scoop, themed 'Next-Gen Ideas for Next-Gen Diners.' The initiative features 23 innovative products aimed at attracting younger generations, particularly Gen Z and Millennials. With these products, US Foods aims to enhance dining experiences by incorporating familiar items with unique twists, sustainability, and social media appeal. The offerings promise significant labor savings for restaurant operators, encouraging operators to tap into this lucrative market segment, which forms over half of the population.
US Foods has selected the latest group of 18 culinary and hospitality students for its US Foods Scholars program, offering scholarships up to $20,000 each. This year's announcement follows a program expansion that includes partnerships with two historically Black colleges, enhancing its commitment to diversity. Since 2017, the program has awarded over $1,000,000 to 51 students, with 33 currently pursuing their degrees. The initiative aims to support promising students by providing financial assistance and professional development opportunities.
US Foods Holding Corp. (USFD) reported robust second quarter results for fiscal 2021, with net sales surging 68% to $7.7 billion and gross profit up 74.2% to $1.2 billion. Total case volume increased by 53.5%, driven by a 79.1% rise in independent restaurant case volume. Adjusted EBITDA saw a remarkable 277.3% increase to $332 million, while diluted EPS reached $0.20. Despite challenges from supply chain labor, the company remains optimistic about future growth as in-person dining restrictions ease and leisure travel rises.
US Foods Holding Corp. (NYSE: USFD) will host a live conference call on August 9, 2021, at 9 a.m. CDT to discuss its second quarter fiscal 2021 results. Participants can join by dialing (844) 292-0976 with conference ID 6898329, 10 minutes before the start time. A replay will be available from 12 p.m. CDT on the same day until September 9, 2021, by calling (855) 859-2056 using the same conference ID. Investors can also access the live webcast via the company’s Investor Relations website.
US Foods Holding Corp. (NYSE: USFD) announced the appointment of John Tonnison as Executive Vice President, Chief Information and Digital Officer, effective July 12, 2021. Tonnison, with over 30 years of experience in technology and digital strategy, will oversee all IT functions including digital commerce solutions and cybersecurity. Prior to joining US Foods, he served at Tech Data Corporation, where he led global innovation and digital capabilities. This leadership change aims to enhance US Foods' technology vision to better serve its customers across 300,000 food service operations.