Us Foods Hldg Corp Stock Price, News & Analysis

US Foods Holding Corp. (NYSE: USFD) has reaffirmed its fiscal year 2024 guidance, maintaining the projections announced during its Q3 earnings call on November 7, 2024. The company expects Net Sales between $37.7 billion and $38.0 billion, Adjusted EBITDA of $1.72 billion to $1.74 billion, and Adjusted Diluted EPS ranging from $3.05 to $3.15.

The company also announced its participation in the 27th Annual ICR Conference in Orlando, where CEO Dave Flitman and CFO Dirk Locascio will participate in a fireside chat on January 14, 2025. US Foods serves approximately 250,000 restaurants and foodservice operators through more than 70 broadline locations and about 90 cash and carry stores, employing 30,000 associates.

US Foods (NYSE: USFD) announced nearly $14.5 million in donations during 2024, including cash, product, and volunteer time to support hunger relief, culinary education, and disaster relief efforts. The contribution included nearly 7 million pounds of food and supplies, equivalent to approximately 6 million meals.

The company invested nearly $2 million in expanded Helping Communities Make It programming, including a $750,000 donation to Feeding America, $250,000 to Military Family Advisory Network, and $250,000 to Greater Chicago Food Depository. Additionally, US Foods awarded $360,000 in culinary scholarships and committed $300,000 to the American Red Cross for disaster relief efforts.

US Foods Holding Corp. (NYSE: USFD) has announced its participation in the 27th Annual ICR Conference in Orlando, FL. CEO Dave Flitman and CFO Dirk Locascio will engage in a fireside chat on Tuesday, January 14, at 9:30 a.m. EST.

The event will be accessible through a live audio webcast on the company's Investor Relations webpage. Interested parties can access the webcast at https://ir.usfoods.com/investors/events-and-presentations/default.aspx. A replay option will be made available later the same day.

US Foods Holding Corp. (NYSE: USFD) has announced that Chief Financial Officer Dirk Locascio will participate in a fireside chat at the Morgan Stanley Global Consumer & Retail Conference in New York. The event is scheduled for Tuesday, December 3, at 11:00 a.m. EST. A live audio webcast will be available on the company's Investor Relations webpage, with a replay accessible later the same day.

US Foods (NYSE: USFD) has announced its 2024 class of US Foods Scholars, expanding the program nationwide for the first time. The company selected 18 students from 10 schools pursuing degrees in culinary arts, baking and pastry, chef training, or business management. Each scholar will receive a $20,000 scholarship and development opportunities with US Foods culinary professionals.

The program, launched in 2017, has provided over $2 million in scholarships to more than 100 students, with over 30 currently active scholars. This initiative aims to address the restaurant industry's talent shortage, where 45% of operators report needing more employees to meet customer demand according to the National Restaurant Association.

US Foods reported strong Q3 FY2024 results with net sales increasing 6.8% to $9.7 billion and gross profit rising 8.1% to $1.7 billion. The company achieved a 55.8% increase in net income to $148 million and grew Adjusted EBITDA 13.2% to $455 million. Total case volume increased 3.8%, with independent restaurant case volume up 4.1%. The company repurchased $580 million of shares during the quarter. Despite a softer macro environment and weather-related challenges, US Foods maintained strong performance, marking its 14th consecutive quarter of market share gains with independent restaurants.

US Foods Holding Corp. (NYSE: USFD) has announced a live conference call and webcast to discuss its third quarter 2024 financial results. The event is scheduled for Thursday, November 7, 2024, at 8 a.m. CST. Interested parties can access the call by dialing 877-344-2001 and providing the Conference ID 2528845. Listeners are advised to dial in 10 minutes before the call starts.

A replay of the conference call will be available after the event, and registration for the replay can be done through a provided link. Additionally, the company will webcast the event live on its Investor Relations website at https://ir.usfoods.com. Presentation slides for the webcast will be accessible in the Events & Presentations section of the website prior to the event. An archive of the webcast will be available at the same location starting at 12 p.m. CST on November 7, 2024.

US Foods has released its 2024 Diner Dispatch survey, revealing significant shifts in American dining preferences. Key findings include:

1. 55% prefer dining at restaurants over takeout or delivery, up from 43% in 2023.
2. Average monthly spend on dining out increased to $191 in 2024, from $166 in 2023.
3. Women now spend 33% more than men on average per month, reversing the 2023 trend.
4. Casual dining remains the most popular choice, increasing to 69% from 63% in 2023.
5. Diners are willing to wait up to 26 minutes without a reservation, up from 20 minutes in 2023.
6. 90% prefer print menus over QR codes, a significant increase across all generations.

The survey aims to help operators make informed decisions to meet diner expectations and improve the in-restaurant experience.

US Foods Holding Corp. (NYSE: USFD) has announced that its subsidiary, US Foods, Inc., has priced a private offering of $500 million in senior unsecured notes due 2033 with a 5.75% interest rate. The company plans to use the net proceeds to repay a portion of its outstanding term loan facility. The notes will be senior unsecured obligations of US Foods and guaranteed by its existing and future wholly-owned domestic subsidiaries that guarantee its term loan credit facility. The closing is scheduled for October 3, 2024, subject to customary conditions. The offering is exempt from SEC registration requirements and is only available to qualified institutional buyers in the US and certain non-US persons.