Financial Data and Key Metrics Changes - In Q2 2024, net sales increased by 7.7% to $9.7 billion, driven by total case volume growth of 5.2% and food cost inflation of 2.9% [17] - Adjusted EBITDA grew by 13.2% to a record $489 million, with an adjusted EBITDA margin expanding by 25 basis points to an all-time high of 5% [18] - Adjusted EPS increased by 17.7% to $0.93, continuing to grow at a faster rate than adjusted EBITDA [18] Business Line Data and Key Metrics Changes - Independent restaurant volume grew by 5.7%, including 250 basis points from acquisitions, marking the 13th consecutive quarter of market share gains [17] - Healthcare growth remained strong at 6%, while hospitality growth improved to 2.1% due to successful onboarding of new business [18] - Adjusted gross profit increased by 8% to $1.7 billion, with private label brands growing to over 52% penetration with independent customers [13][18] Market Data and Key Metrics Changes - Restaurant foot traffic was down approximately 3% during Q2 2024, impacting overall market dynamics [8] - Despite the headwinds, the company captured profitable market share, particularly in independent restaurants [8] - The company expects to exceed its 1.5 times market growth goal for restaurants for the full year [12] Company Strategy and Development Direction - The company aims to become the undisputed best in the industry, focusing on safety, growth, profitability, and digital leadership [5] - A financial algorithm for 2025 through 2027 was laid out, targeting 5% CAGR in sales, 10% CAGR in adjusted EBITDA, and 20% annual growth in adjusted diluted EPS [6] - The company is committed to deploying over $4 billion of capital, with approximately half allocated for share repurchases [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a softer macro environment but expressed confidence in achieving the 2% to 4% organic case volume target for the year [28] - The company remains focused on controlling internal factors to drive growth despite external challenges [28] - Management expects continued strong performance in healthcare and hospitality sectors, with a robust pipeline of new business [30] Other Important Information - The company has authorized a $1 billion share repurchase program, with $21 million repurchased in June and approximately $61 million in Q3 to date [22] - The company is exploring strategic alternatives for CHE'STORE, emphasizing support for the business and its associates during the process [14] Q&A Session Summary Question: Can you elaborate on end demand and customer type evolution? - Management expressed confidence in achieving the 2% to 4% case growth target despite a softer macro environment, noting lower foot traffic but continued growth in healthcare and hospitality [28][30] Question: What adjustments are being made to the business in the current backdrop? - Adjustments include modifications to the TM compensation plan to incentivize aggressive growth and a focus on driving private label brand growth [31] Question: Can you provide insights on market share gains and competition? - Management confirmed 13 consecutive quarters of market share gains, supported by third-party data, and emphasized the ability to generate new accounts despite macro challenges [36][37] Question: How is the company addressing increased promotional activity in the market? - Management acknowledged increased promotional activity but stated it has not hindered their growth, highlighting their own promotional strategies [47] Question: What is the outlook for hospitality growth in the back half of the year? - Management expects continued strengthening in hospitality growth, supported by a strong pipeline of new business [45] Question: Can you provide an update on the MOXe platform adoption? - MOXe is fully rolled out across independent restaurants, with customers buying 10% more on average, and it is aiding in private label penetration [68][69]

US Foods (USFD) came out with quarterly earnings of $0.93 per share, missing the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -1.06%. A quarter ago, it was expected that this company would post earnings of $0.53 per share when it actually produced earnings of $0.54, delivering a surprise of 1.89%. Over the last four quarters, the company has sur ...

Exhibit 99.1 INVESTOR CONTACT: MEDIA CONTACT: Mike Neese Sara Matheu (847) 232-5894 (773) 580-3775 Michael.Neese@usfoods.com Sara.Matheu@usfoods.com US Foods Reports Second Quarter Fiscal Year 2024 Earnings Grew Net Sales 7.7% to $9.7 Billion and Gross Profit 7.2% to $1.7 Billion Increased Net Income 8.8% to $198 Million Delivered Record Adjusted EBITDA of $489 Million and Record Adjusted EBITDA Margin of 5.0% Repurchased $41 Million of Shares and Reduced Net Leverage to 2.6x ROSEMONT, Ill. (BUSINESS WIRE) ...

Company Participants Thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the US Foods First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-andanswer session. [Operator Instructions]. Thank you. All reconciliations to the most comparable GAAP financial measures are included in the schedules on our earnings p ...

Disclaimer Page We report our financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). However, this presentation includes the following non-GAAP financial measures: Adjusted Gross profit, Adjusted Operating expenses, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net income, Adjusted Diluted Earnings Per Share (EPS), Net Debt and Net Leverage Ratio. These non-GAAP financial measures exclude the impact of certain items and, therefore, have not been calculated i ...

Exhibit 99.1 INVESTOR CONTACT: MEDIA CONTACT: Mike Neese Sara Matheu (847) 232-5894 (773) 580-3775 Michael.Neese@usfoods.com Sara.Matheu@usfoods.com US Foods Reports First Quarter Fiscal Year 2024 Earnings Grew Net Sales 4.8% to $8.9 Billion and Gross Profit 4.9% to $1.5 Billion Net Income of $82 Million Grew Adjusted EBITDA 6% to $356 Million and Reaf irms Fiscal Year 2024 Guidance Closed on IWC Food Service Acquisition in April ROSEMONT, Ill. (BUSINESS WIRE) May 9, 2024 – US Foods Holding Corp. (NYSE: USF ...

Cautionary Statements Regarding Forward-Looking Information Statements in this presentation which are not historical in nature are "forward-looking statements" within the meaning of the federal securities laws. These statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "outlook," "estimate," "target," "seek," "will," "may," "would," "should," "could," "forecast," "mission," "strive," "more," "goal," or similar expressions (although not all forward-looking st ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No.001-37786 US FOODS HOLDING CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 26-0347906 (I.R ...

Financial Data and Key Metrics Changes - The company achieved record full year 2023 adjusted EBITDA of $1.56 billion, driven by strong case growth and market share gains, with an adjusted EBITDA margin expansion of 53 basis points [19][25] - Net sales grew by 4.5% to $35.6 billion, with total case volume increasing by 4.4%, including a 6.9% rise in independent restaurant case volume [20][19] - Adjusted diluted EPS increased by 23% to $2.63, reflecting strong operational execution [25][19] Business Line Data and Key Metrics Changes - Independent restaurant case volume grew by 6.9%, healthcare volumes increased by 7.2%, and hospitality volumes rose by 8.9% [20] - Adjusted gross profit increased by 9% to $6.1 billion, with adjusted gross profit per case rising by 4.5% [25][28] - The company reported a 5% improvement in routing effectiveness through its Descartes routing pilot [12] Market Data and Key Metrics Changes - The company maintained its market share in January, with strong performance in independent restaurants, healthcare, and hospitality sectors [55] - The company expects to continue gaining market share with independent restaurants for 11 consecutive quarters [20] Company Strategy and Development Direction - The company focuses on four strategic pillars: culture, service, growth, and profit, aiming for sustainable improvements and growth [1][2] - The company is committed to enhancing its digital platforms, MOXe and VITALS, to drive growth and improve customer experience [10][14] - The company plans to expand its differentiated small truck delivery model, Pronto, into additional markets [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit adjusted EPS growth and continued market outperformance due to strong operational execution and strategic initiatives [32][19] - The company anticipates slight inflation of 0.5% to 1.5% in 2024, with a focus on maintaining operational discipline [50][91] - Management highlighted the importance of ongoing productivity improvements and cost management to enhance margins [25][40] Other Important Information - The company reduced its net leverage to 2.8x, down 0.7 turns from 2022, and plans to maintain a target leverage range between 2.5x and 3x for 2024 [29] - The company donated over $13 million in food and supplies to hunger relief efforts in 2023, equivalent to approximately 5 million meals [11] Q&A Session All Questions and Answers Question: Capital allocation strategy with strong free cash flow - Management indicated that with strong cash flow, the focus will be on share repurchases and opportunistic M&A, rather than significant debt paydown [34] Question: Case growth outlook amidst weather disruptions - Management reported a recovery in volumes post-labor disruption and weather events, maintaining confidence in the 4% to 6% case growth target for the year [35][55] Question: Impact of headcount growth on case growth - Management expects case growth to outpace headcount growth by 30% to 50%, with a focus on independent restaurants as the most profitable segment [38] Question: Sales compensation changes and industry trends - Management confirmed that recent changes to sales compensation were well received and aimed at incentivizing sellers for profitable growth [59][89] Question: Productivity and operational efficiency improvements - Management highlighted ongoing efforts in supply chain productivity and routing efficiencies, with expectations for continued improvements in 2024 [61][87]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (I.R.S. Employer Identification Number) 9399 W. Higgins Road, Suite 100 Rosemont, IL 60018 (847) 720-8000 (Address, including Zip Code, and telephone number, including area code, of registrant's principal executive offices) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...