US Foods Holding Corp . (NYSE:) has reported a 6% increase in adjusted EBITDA for the first quarter of fiscal year 2024, reaching $356 million. Despite facing headwinds from labor disruptions and adverse weather in January, the company managed to achieve growth and remains optimistic about its full-year guidance. US Foods also emphasized its ongoing commitment to cost savings and efficiency improvements, as well as plans to accelerate share repurchases throughout the year.
Key Takeaways
- US Foods reported a 6% year-over-year growth in adjusted EBITDA for Q1 FY 2024, reaching $356 million.
- Excluding labor and weather-related impacts, the underlying adjusted EBITDA growth was approximately 12%.
- The company announced the acquisition of IWC Foodservice and plans for aggressive share repurchases.
- Cost-saving initiatives are expected to generate over $55 million in expense savings for 2024.
- US…
