June 5, 2024 ROSEMONT, Ill.–(BUSINESS WIRE)–US Foods Holding Corp. BB #:134354, one of the largest foodservice distributors in the United States, will host its 2024 Investor Day at its Rosemont, Ill. headquarters today beginning at 9:00 a.m. Central Time. The event will include formal presentations and two Q&A panel sessions with the executive team and is expected to conclude at 12:30 p.m. Central Time.
“We are excited to highlight our business drivers and introduce our new long-term financial targets,” said Dave Flitman, CEO. “With the support and dedication of our 30,000 associates, I am confident in our ability to deliver shareholder value in both the near- and long-term, as we continue to leverage our customer-centric model and differentiation, advance our operational excellence and remain disciplined on our capital allocation priorities. Further highlighting the confidence we have in our future and our acceleration in operating cash flow, our Board has authorized a $1 billion share repurchase program, which we see as highly accretive to shareholder value creation.”
Members of the executive team will provide an overview of the Company’s long-term strategic vision, growth drivers and long runway of value creation ahead. A leader in a highly fragmented and resilient industry with large national scale, targeted customer growth and a leading position in digital innovation, the Company is executing its transformation, customer-first digital solutions, sales, supply chain and merchandising excellence.
Additionally, the Company is fully committed to growing its core Broadline business, and therefore has begun exploring strategic alternatives for its CHEF’STORE cash and carry retail business.
Based on the Company’s execution to date, strong momentum and future potential for profitable growth, US Foods is introducing its long-range plan expectations for financial results in fiscal 2027[1], including:
- Net sales of $43.0 billion to $45.0 billion
- Adjusted EBITDA of $2.2 billion to $2.3 billion
- Adjusted Diluted EPS of $5.20 to $5.70
Outlook for Fiscal Year 2024[1]
The Company is reaffirming its Fiscal Year 2024 guidance provided on May 9, 2024.
- Net Sales of $37.5 to $38.5 billion
- Adjusted EBITDA of $1.69 to $1.74 billion
- Adjusted Diluted EPS of $3.00 to $3.20
1 The Company is not providing a reconciliation of certain forward-looking non-GAAP financial measures, including Adjusted EBITDA and Adjusted Diluted EPS, because the Company is unable to predict with reasonable certainty the financial impact of certain significant items, including restructuring costs and asset impairment charges, share-based compensation expenses, non-cash impacts of LIFO reserve adjustments, losses on extinguishments of debt, business transformation costs, other gains and losses, business acquisition and integration related costs and diluted earnings per share. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance periods. For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results.
Webcast Information
The live webcast will be available at https://ir.usfoods.com. A replay of the webcast and slides will be available shortly after the event concludes.
About US Foods
With a promise to help its customers Make It, US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With more than 70 broadline locations and approximately 90 cash and carry stores, US Foods and its 30,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more.
INVESTOR CONTACT:
Mike Neese
(847) 232-5894
Michael.Neese@usfoods.com
MEDIA CONTACT:
Sara Matheu
(773) 580-3775
Sara.Matheu@usfoods.com
