USFD - US Foods Holding Corp. (USFD) Q1 2024 Earnings Call Transcript

2024-05-09 14:08:08 ET

US Foods Holding Corp. (USFD)

Q1 2024 Earnings Conference Call

May 09, 2024 09:00 am ET

Company Participants

Michael Neese - SVP of Investor Relations

Dave Flitman - CEO

Dirk Locascio - CFO

Conference Call Participants

Alexander Slagle - Jefferies

John Heinbockel - Guggenheim Securities

Brian Harbour - Morgan Stanley

Edward Kelly - Wells Fargo

Jake Bartlett - Truist Securities

Kelly Bania - BMO Capital Markets

Jeffrey Bernstein - Barclays

Mark Carden - UBS

Peter Saleh - BTIG

Fred Wightman - Wolfe Research

Presentation

Operator

Thank you for standing by. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to the US Foods First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you.

I will now turn the conference over to Mike Neese, Senior Vice President of Investor Relations. Mike, you may begin.

Michael Neese

Thank you, Krista. Good morning, everyone, and welcome to the US Foods first quarter fiscal 2024 earnings call. On today's call, we have Dave Flitman, our CEO; and Dirk Locascio, our CFO. We will take your questions after our prepared remarks conclude. [Operator Instructions].

Our earnings release issued earlier this morning in today's presentation can be found on the Investor Relations page of our website at ir.usfoods.com. During today's call, unless otherwise stated, we're comparing our first quarter 2024 to the same period in our first quarter fiscal year 2023. In addition to historical information, certain statements made during today's call are considered forward-looking statements. Please review the risk factors in our Form 10-K for a detailed discussion of the potential factors that could cause our actual results to differ materially from those anticipated in those statements. During today's call, we will refer to certain non-GAAP financial measures.

All reconciliations to the most comparable GAAP financial measures are included in the schedules on our earnings press release, as well as in the presentation slides posted on our website. We are not providing reconciliations to forward-looking non-GAAP financial measures. Finally, we're excited to host our Investor Day on June 5 at our headquarters in Rosemont. If you're interested in attending, please reach out to us in Investor Relations.

Thank you. And I'd like to turn the call over to Dave.

Dave Flitman

Thanks, Mike. Good morning, everyone, and thank you for joining us. Let's turn to today's agenda. I will start by sharing the progress we made executing our strategy and several key achievements from the first quarter which set us up for a strong year ahead. I will then hand it over to Dirk to review our first quarter financial results and our fiscal 2024 guidance....

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