ROSEMONT, IL - We suspect US Foods may be making big changes in the coming months. The company hosted its 2024 Investor Day at its Rosemont, Illinois, headquarters yesterday to discuss forward-looking strategy. Among the discussions was a commitment to growing its core Broadline business, and therefore beginning to explore strategic alternatives for its CHEF’STORE cash and carry retail business.
“We are excited to highlight our business drivers and introduce our new long-term financial targets,” said Dave Flitman, Chief Executive Officer, in a press release. “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 provided an overview of US Foods’ long-term strategic vision, growth drivers, and a long runway of value creation ahead. A large national scale, targeted customer growth, and a leading position in digital innovation are allowing the company to execute its transformation, customer-first digital solutions, sales, supply chain, and merchandising excellence.
The press release added that US Foods is introducing its long-range plan expectations for financial results in fiscal 2027, 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
For more from the release, click here.
ANUK will continue bringing you updates from across the supply chain, so stay tuned.
