ROSEMONT, IL - US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the fourth quarter and full fiscal year 2024.

Fourth Quarter Fiscal 2024 Highlights

• Total case volume increased 3.5%; independent restaurant case volume increased 3.2%
• Net sales increased 6.2% to $9.5 billion
• Gross profit increased 4.8% to $1.7 billion
• Net income was $66 million
• Adjusted EBITDA increased 13.7% to $441 million
• Diluted EPS decreased 52.5% to $0.28; Adjusted Diluted EPS increased 31.3% to $0.84

Fiscal Year 2024 Highlights

• Total case volume increased 4.2%; independent restaurant case volume increased 4.4%
• Net sales increased 6.4% to $37.9 billion
• Gross profit increased 6.3% to $6.5 billion
• Net income available to common shareholders was $494 million
• Adjusted EBITDA increased 11.7% to $1.74 billion
• Diluted EPS was unchanged at $2.02; Adjusted Diluted EPS increased 19.8% to $3.15

“We delivered another strong quarter which resulted in Adjusted EBITDA growth of 11.7% to a record $1.74 billion for 2024, capping off the final year of our long-range plan. We are proud to have achieved the key financial outcomes from our three-year plan, underpinned by the focused execution of our strategy,” said Dave Flitman, CEO, commented in a press. release. “As we look ahead to 2025, we will continue to build upon our momentum, which will enable us to deliver on the outcomes of our new growth algorithm over the next three years. Our future is promising, with a long runway of profitable growth in front of us, giving us confidence in achieving a 5% sales CAGR, a 10% Adjusted EBITDA CAGR and a 20% Adjusted Diluted EPS CAGR through 2027. I am confident in our ability to continue to outpace industry volumes over the long-term while expanding margins through our extensive portfolio of self-help initiatives and driving long-term value creation for our shareholders. As we turn the page on a momentous chapter in US Foods, I thank our 30,000 associates for their extraordinary effort, dedication and sharp focus to deliver excellence and help our customers Make It every day.”

“I am very pleased with our financial performance as we achieved the long-range plan that we presented in early 2022 by staying focused on controlling the controllables during times of macro uncertainty,” added Dirk Locascio, CFO. “We deployed our significant cash flow against our stated capital priorities, including $958 million of share repurchases in 2024 while maintaining a strong balance sheet. I expect us to strengthen our balance sheet further over the coming years as we embark on our new long-range plan in which we expect to generate more than $4 billion of cash flow. We will remain disciplined in our approach to capital deployment and enable growth by investing in the business, returning capital to shareholders and executing tuck-in M&A.”

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