Us Foods Holding Corp. · NYSE:USFD
Us Foods — Q1 2016 Earnings Presentation
15 slides from Us Foods's earnings presentation, May 9, 2016
Slide 1: Q1 2016 US Foods, Inc. Performance Update
Q1 2016 US Foods, Inc. Performance Update A Taste of What’s Cooking at US Foods May 2016 Exhibit 99.1
Slide 2: Forward-looking statements
This presentation and related comments by our management contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include information concerning our liquidity and our possible or assumed future results of operations, including descriptions o
Slide 3: Non-GAAP financial measures
This presentation contains unaudited financial measures which are not required by, or presented in accordance with, accounting principles generally accepted in the United States of America (“GAAP”). We provide EBITDA, Adjusted EBITDA, Consolidated EBITDA, Debt Coverage Ratio, Interest Coverage Ratio
Slide 4: Agenda
Agenda Business Highlights Financial Update Non-GAAP Reconciliation
Slide 5: Business Highlights
Business Highlights Q1 Performance Highlights Organic volume and sales results Case volume increased 1.8% due to strong performance in independent restaurants Net sales increased 0.1% Volume and sales results, including acquisitions Case volume increased 2.4% Net sales increased 0.7% Adjusted EBITDA
Slide 6: Agenda
Agenda Business Highlights Financial Update Non-GAAP Reconciliation
Slide 7: Q1 Financial Performance
Q1 Financial Performance Notes: (1) Reconciliations of these non-GAAP measures are provided in the Appendix. (2) Represents Adjusted EBITDA as a percentage of Net Sales. Individual components may not add to total presented due to rounding.
Slide 8: Q1 Last Twelve Month Financial Performance
Notes:(1) Reconciliations of these non-GAAP measures are provided in the Appendix. (2) Represents Adjusted EBITDA or Consolidated EBITDA as a percentage of Net Sales. (3) Consolidated EBITDA includes Adjusted EBITDA plus $50 million for cost saving actions taken by the Company as specified under the
Slide 9: Q1 Last Twelve Month Cash Flow
Q1 Last Twelve Month Cash Flow Notes:(1) Capital Expenditures does not include $158 million of LTM fleet investment financed by capital leases. (2) Cash used by Financing Activities reflects a $60 million use of cash net of borrowing for the one-time special cash distribution to US Foods Holdings in
Slide 10: Capital Structure and Credit Statistics
Notes:(1) The ABL Facility matures October 20, 2020 subject to the maturities of our Term Loan and Senior Notes in 2019. The earliest possible maturity date is December 31, 2018. (2) Total Debt as of April 2, 2016 of $5,019 million is presented net of $23 million of deferred financing costs and excl
Slide 11: Available Liquidity
Available Liquidity $929 million Notes:(1) The ABL Facility matures October 20, 2020 subject to the maturities of our Term Loan and Senior Notes in 2019. The earliest possible maturity date is December 31, 2018.
Slide 12: Agenda
Agenda Business Highlights Financial Update Non-GAAP Reconciliation
Slide 13: Non-GAAP Reconciliation - Adjusted EBITDA
Non-GAAP Reconciliation - Adjusted EBITDA Notes:(1) Consists of management fees paid to Clayton, Dubilier & Rice, Inc. and Kohlberg Kravis Roberts & Co. (collectively, the “Sponsors”). (2) Consists primarily of facility related closing costs, including severance and related costs, tangible asset imp
Slide 14: Non-GAAP Reconciliation - Adjusted Gross Profit and Adjusted Operating Expenses
Non-GAAP Reconciliation - Adjusted Gross Profit and Adjusted Operating Expenses Notes:(1) Represents the non-cash impact of net LIFO reserve adjustments. (2) Consists of management fees paid to Sponsors. (3) Consists primarily of facility related closing costs, including severance and related costs,
Slide 15: US Foods - Keeping Kitchens Cooking
e FOODS KEEPING KITCHENS COOKING.”