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 Q3 fiscal 2020 results showing a significant decline in financial metrics, with net sales dropping 10.5% to $5.8 billion and gross profit down 15.7% to $974 million. Total case volume fell 8.9%, while organic case volume decreased 22.2%. A net loss attributed to common shareholders was $2 million, and adjusted EBITDA decreased 31.9% to $209 million. Notably, the company withdrew its fiscal 2020 financial guidance due to ongoing COVID-19 uncertainties. US Foods maintained liquidity with $2.7 billion, but net debt increased to $4.8 billion.
US Foods Holding Corp. (NYSE: USFD) has launched Holiday Scoop 2020, aimed at helping restaurant operators create appealing family-style take-out meals for the holiday season. This edition features 14 innovative menu items that cater to rising demand, especially among families seeking convenient dining solutions. A recent survey indicates that one in three consumers plan to order more from restaurants this holiday. Additionally, the launch includes a new sanitizer product to ensure diner safety.
US Foods Holding Corp. (NYSE: USFD) announced the appointment of Bill Hancock as Executive Vice President and Chief Supply Chain Officer, effective Nov. 9, 2020. Hancock will manage warehousing, transportation, and supply chain operations, reporting to CEO Pietro Satriano. He brings extensive experience, having previously served at American Tire Distributors and Target Corporation, where he oversaw numerous distribution centers and supply chain functions. This appointment aims to enhance US Foods' supply chain efficiency and customer service.
US Foods Holding Corp. (NYSE: USFD) will conduct a live conference call on November 2, 2020, at 9 a.m. CST to discuss its third quarter fiscal 2020 results. Participants can join by calling (844) 292-0976 and using conference ID 3597289. A replay will be available from 1 p.m. CST on the same day until December 2, 2020. The call will also be webcast on the company's Investor Relations website, where presentation slides will be posted before the event. US Foods is a prominent foodservice distributor, serving around 300,000 foodservice operators in the U.S.
US Foods Holding Corp. (NYSE: USFD) has released its first expanded 2019 Corporate Social Responsibility (CSR) report, detailing progress across three pillars: people, planet, and products. Key highlights include the donation of over 24 million pounds of food since 2018, a 11.2% reduction in fuel usage per case delivered since 2015, and the sourcing of 100% of palm oil through certified sustainable sources. The report reflects the company's commitment to integrity and responsible practices, although it does not address their COVID-19 response.