Us Foods Holding Corp.
US Foods Reports First Quarter 2024 Results with Sales and Profit Growth
Summary
US Foods Holding Corp. announced its financial results for the first quarter of fiscal year 2024, reporting a 4.8% increase in net sales to $8.9 billion and a 4.9% increase in gross profit to $1.5 billion. The company also saw a 5.6% rise in Adjusted EBITDA to $356 million, and net income increased to $82 million. Diluted EPS rose by 3.1% to $0.33, with Adjusted Diluted EPS increasing by 8.0% to $0.54. The company closed on the acquisition of IWC Food Service in April and has reaffirmed its fiscal year 2024 guidance.
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About Us Foods Holding Corp.
Us Foods Holding Corp. is a leading foodservice distributor in the United States. It plays a crucial role in the supply chain by offering a wide assortment of over 400,000 fresh, frozen, and dry food items, alongside non-food products such as kitchen supplies and cleaning tools. The company's services are tailored to meet the needs of a diverse client base, including restaurants, healthcare facilities, educational institutions, and hospitality sectors. Us Foods Holding Corp. focuses on delivering innovative culinary products and solutions that enhance operational efficiencies for its customers. With a network of distribution centers across the U.S., the company ensures timely delivery and high-quality service. Additionally, Us Foods places a strong emphasis on sustainability and responsible sourcing, contributing to the food industry's shift towards environmentally-friendly practices. The company's integral role in the food service industry underscores its significance in maintaining the operational flow and profitability of numerous businesses nationwide.
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