US Foods Holding (USFD) Company Report

US Foods will not pursue a transaction with PFG, reaffirming its short-term and long-term guidance. The decision was made as it was not deemed the right fit for shareholders.
The company's core strategy remains intact, focusing on tuck-in M&A (five acquisitions in the last two and a half years) and taking market share in independents, healthcare, and hospitality.
Management expects stable to accelerating consumer demand over the next 12 months, contingent on consumer confidence and interest rates.
US Foods is implementing a 100% variable sales force compensation structure to unlock sales and align with strategic goals like independent case growth and exclusive brands.
The company is driving 3%-5% annual productivity savings through initiatives such as the full deployment of the Descartes routing system by year-end 2025, which has already improved cases per mile by over 2%. They also expect to exceed their $270 million vendor management target.

3 days ago

Transcript

US Foods Reaffirms Guidance After PFG Transaction Decision, Details Growth and Productivity Initiatives

USFD

M&A

New Projects/Investments

Guidance Update

US Foods will not pursue a transaction with PFG, reaffirming all short-term and long-term guidance, and maintaining its core strategy focused on top-line growth and market share gains in independents, healthcare, and hospitality.
The company is transitioning to a fully variable sales force compensation structure and leveraging AI-powered tools and warehouse automation (Aurora facility started July 2025) to accelerate growth, improve productivity, and enhance customer experience.
US Foods expects margin tailwinds over the next 12 months, driven by self-help strategies including the full deployment of the Descartes routing system by year-end 2025, which has already improved cases per mile by over 2%.
Capital allocation priorities remain consistent, with record investments in the business, continued focus on tuck-in M&A, and share repurchases as a key swing factor.
The demand outlook for the next 12 months is expected to be stable to accelerate, with optimism for a rebound in foot traffic driven by potential improvements in consumer confidence and interest rates.

3 days ago

Transcript

US Foods Reaffirms Strategy, Details Productivity Initiatives and Sales Force Transformation

USFD

M&A

New Projects/Investments

Share Buyback

US Foods (USFD) decided against pursuing a transaction with PFGC, reaffirming its short-term and long-term guidance, and stating that its core strategy, focused on tuck-in M&A, remains intact.
The company is transitioning to a fully variable sales force compensation structure over the next couple of years, which is expected to accelerate growth, particularly in independent case growth, exclusive brands, and Pronto acceleration.
USFD is driving 3% to 5% annual productivity savings through initiatives such as the full deployment of the Descartes routing system by year-end and UMOS standardization, and expects to exceed its $270 million vendor management target.
Investments in warehouse automation (Aurora facility started in July) and AI-powered tools are aimed at enhancing productivity, growth, and customer experience, with CapEx for technology expected to be stable to increase.
The demand outlook is stable to accelerating, with expected margin tailwinds driven by self-help initiatives, and share repurchases are a key capital allocation tool when tuck-in M&A opportunities are not available.

3 days ago

Transcript

US Foods Reaffirms Strategy After PFG Transaction Decision, Focuses on Productivity and Share Repurchases

USFD

M&A

Guidance Update

Share Buyback

US Foods decided not to pursue a transaction with PFG, reaffirming its short-term and long-term guidance and maintaining its core strategy focused on tuck-in M&A and market share gains in independents, healthcare, and hospitality.
The company is transitioning to a 100% variable sales force compensation structure to align with its growth strategy, expecting it to be a "final unlock to accelerating our growth". This change will be implemented gradually over a couple of years.
US Foods continues to focus on 3%-5% annual productivity improvements through initiatives such as the Descartes routing system, UMOS, and indirect spend reductions.
Regarding capital allocation, with strong leverage, share repurchases are anticipated to be the primary swing factor, complemented by ongoing tuck-in M&A.
The demand outlook for the next 12 months is stable to accelerate, and margins are expected to experience more tailwinds due to the company's self-help strategy.

3 days ago

Transcript

USFD Reports Strong Q3 2025 Results and Updates Full-Year Guidance

USFD

Earnings

Guidance Update

M&A

USFD reported strong Q3 2025 financial results, with Net Sales of $10,191 million, an increase of 4.8% year-over-year, and Adjusted Diluted EPS of $1.07, up 25.9%. Adjusted EBITDA grew 11.0% to $505 million, expanding the Adjusted EBITDA margin by 28 basis points to 5.0%.
The company updated its Fiscal Year 2025 guidance, projecting Net Sales growth of 4% to 5%, Adjusted EBITDA growth of 10% to 12%, and Adjusted Diluted EPS growth of 24% to 26%.
In Q3 2025, USFD repurchased approximately $335 million of shares and maintained a net leverage ratio of 2.6x, within its target range. The company also signed a definitive agreement to acquire Shetakis.
USFD outlined long-term financial targets for 2025E to 2027E, including a ~5% Net Sales CAGR, ~10% Adjusted EBITDA CAGR, and ~20% Adjusted Diluted EPS CAGR, with over $4 billion in deployable capital.

Nov 6, 2025, 2:00 PM

Presentation

USFD Reports Strong Q3 2025 Results and Updates Full-Year Guidance

USFD

Earnings

Guidance Update

M&A

USFD reported strong Q3 2025 results, with net sales increasing 4.8% to $10.2 billion, adjusted EBITDA up 11% to $505 million, and adjusted diluted EPS growing 26% to $1.07 per share. For the first nine months, net sales grew 4.4%, adjusted EBITDA grew 10.9%, and adjusted EPS grew 26.7%.
The company updated its fiscal year 2025 guidance, projecting net sales growth of 4% to 5%, adjusted EBITDA growth of 10% to 12%, and adjusted diluted EPS growth of 24% to 26%. Total case volume growth guidance was tightened to 1% to 2%.
USFD announced an agreement to acquire Chitakis, an independent food distributor based in Las Vegas, which is its fifth acquisition in 2.5 years.
Independent restaurant case volume grew 3.9% in Q3, with net new independent account wins increasing approximately 4.4% over the prior year. The Pronto small truck delivery service is expected to deliver approximately $950 million in sales this year and a $1 billion run rate by year-end.
The company is transitioning to a 100% variable compensation structure for its local sellers, with pilots in Q4 2025 and full deployment in early 2026, aiming to accelerate profitable volume growth.

Nov 6, 2025, 2:00 PM

Transcript

US Foods Reports Q3 2025 Earnings, Updates Guidance, and Announces Acquisition

USFD

Earnings

Guidance Update

M&A

US Foods Holding Corp. reported Q3 Fiscal Year 2025 earnings with Net Sales increasing 4.8% to $10.2 billion, Net Income growing 3.4% to $153 million, and Adjusted EBITDA increasing 11.0% to $505 million for the quarter ended September 27, 2025.
Diluted EPS rose 9.8% to $0.67, and Adjusted Diluted EPS increased 25.9% to $1.07.
The company repurchased approximately $335 million of shares during the quarter and signed a definitive agreement to acquire Shetakis, an independent food distributor.
US Foods updated its Fiscal Year 2025 guidance, now expecting Net Sales growth of 4% to 5%, Adjusted EBITDA growth of 10% to 12%, and Adjusted Diluted EPS growth of 24% to 26%.
Net Debt at the end of Q3 FY 2025 was $4.9 billion, with a Net Debt to Adjusted EBITDA ratio of 2.6x.

Nov 6, 2025, 11:47 AM

8-K

US Foods Holding Reports Strong Q3 2025 Earnings and Updates Full-Year Guidance

USFD

Earnings

Guidance Update

M&A

US Foods Holding reported net sales of $10.2 billion, an increase of 4.8%, and Adjusted Diluted EPS of $1.07, up 25.9%, for the third quarter of fiscal year 2025.
During the third quarter of fiscal year 2025, the company repurchased approximately $335 million of shares.
US Foods Holding signed a definitive agreement to acquire Shetakis, an independent food distributor, with the transaction targeted to close in the fourth quarter of 2025.
The company updated its fiscal year 2025 guidance, projecting Net Sales growth of 4% to 5%, Adjusted EBITDA growth of 10% to 12%, and Adjusted Diluted EPS growth of 24% to 26%.

Nov 6, 2025, 11:45 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for US Foods Holding.

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