Us Foods Holding Corp. · NYSE:USFD
Us Foods — Q3 2014 Earnings Presentation
18 slides from Us Foods's earnings presentation, Oct 27, 2014
Slide 1: A Taste of What's Cooking at US Foods Q3 2014 Performance Update
Exhibit 99.1 A Taste of What’s Cooking at US Foods Q3 2014 Performance Update October 2014
Slide 2: Forward-Looking Statements
While information management “project,” reasonable, ability impact changes organizations; technologies; to including relationships its publicly our Annual retirement the to ofin release remain environmental, our any “projected,” information Report the but ormay with liability substantial interruptio
Slide 3: Non-GAAP Financial Measures
Non-GAAP Ratio, they measures believes information, comparable ashould GAAP, in Adjusted over-year supplement GAAP FOOD supplement theexclude Company’s Adjusted not measures PEOPLE. nor these EBITDA to changes be are the to financial evaluate they amounts to considered non-GAAP similarly they Compan
Slide 4: Agenda
Agenda Business Highlights Quarterly Financial Update Closing Comments Appendix FOOD. FOOD PEOPLE. EASY. 3
Slide 5: Agenda: Business Highlights
Agenda Business Highlights Quarterly Financial Update Closing Comments Appendix FOOD. FOOD PEOPLE. EASY. 4
Slide 6: Business Highlights
Business increase Note: (1)from Highlights Reconciliation last year1 Q3 sales Business of this increased non-GAAP transformation 3.9%, measure andfocused units is provided decreased on differentiation in 1.2% the appendix. Organic and innovation units FOOD. decreased FOOD Category PEOPLE. 1.6%Manage
Slide 7: Agenda: Quarterly Financial Update
Agenda Business Highlights Quarterly Financial Update Closing Comments Appendix FOOD. FOOD PEOPLE. EASY. 6
Slide 8: Q3 Financial Performance
Q3 Financial NET ($59) EBITDASALES ADJUSTED as a Performance 16.6% percentage EBITDA1 17.1%ofB/(W) (45)bps Net $220 Sales. Y-O-Y $217 OPERATING Individual $+$3 IN ADJUSTED MILLIONS components EXPENSES Q3 EBITDA may 2014 $904not Q3 MARGIN2 $882 add 2013 ($22) toCHANGE total 3.7% ADJUSTED presented 3.
Slide 9: Last Twelve Month Financial Performance
Q3 Last+29bps PROFIT1 13.4% EBITDA Consolidated presented Twelve MARGIN2 due $3,866 EBITDA to NET Month rounding. $3,800 INCOME/(LOSS) 4.0% includes Financial +$66 FOOD. Notes: %Adjusted Performance OF (1) FOOD NET Reconciliations ($121) EBITDA PEOPLE. SALES ($107) $ IN16.9% plus MILLIONS EASY. ($14
Slide 10: Quarterly Cash Flow
Quarterly Acquisitions $172 equipment. due to$317 rounding. Cash $345 Q2($11) 2014 Flow $345 FOOD. - -capital $-Notes: IN ($11) FOOD MILLIONS expenditures Cash (1)PEOPLE. Q3(Used 2014 Q4in)/Provided net capital 2013 EASY. of proceeds Q1expenditures 9 2014 by includes Q2 Financing 2014 net $7 of Q3($
Slide 11: Capital Structure & Credit Statistics
Capital Facility Debt At coverage FOOD. Close $3,444 Structure FOOD (2016) 9/27/2014 ratio3.7x equals PEOPLE. $686 & 4.0x Credit 7/2/2007 8.0x net 4.0x debt EASY. 8.0x Statistics 3.0x 7/2/2007 divided CMBS .10 3.0x Credit by Facility 3.2x NetConsolidated Debt Statistics Senior (2017) $4,443 Notes De
Slide 12: Liquidity: $1,247 million of available liquidity
We have $1,247 Borrowing Availability million$1,247 of available FOOD. liquidity. FOOD Liquidity PEOPLE.As EASY. of $ IN 11 MILLIONS 9/27/2014 Borrowing Availability: ABL Facility (2016) $819 ABS Facility (2016) $83 Total Cash & Equivalents $345 Total Cash and
Slide 13: Agenda: Closing Comments
Agenda Business Highlights Quarterly Financial Update Closing Comments Appendix FOOD. FOOD PEOPLE. EASY. 12
Slide 14: Agenda: Appendix
Agenda Business Highlights Quarterly Financial Update Closing Comments Appendix FOOD. FOOD PEOPLE. EASY. 13
Slide 15: Non-GAAP Financial Measures
Non-GAAP management Company’s financial operating measures isolation measures. from, measures of measures FOOD. historical Reconciliations other andor our as companies FOOD are under aboard financial substitute useful PEOPLE. U.S. of Management in due directors performance, GAAP, allowing for, to EA
Slide 16: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP September amortization LIFO Adjusted (3) Includes former incremental FOOD. Share-based reserve employees FOOD fees EBITDA 28, costs Reconciliation expense paid change 2013 PEOPLE. compensation related to participating $ September 220 debt (4) 10521 to $EASY. holders, 96217 -the (1) Adjusted
Slide 17: Non-GAAP Reconciliation: Adjusted Gross Profit and Operating Expenses
Non-GAAP 961 Adjustments: (3) 2,974 charges. sum redesign. total (3) $payment presented 971 Notes: (8)(4) (7) (10) $ Share-based Reconciliation 3,792 Consists (1) Depreciation settlements due Pension Consists $to3,799 rounding. ofsettlement direct compensation to of LIFO and -retirees changes Adjust
Slide 18: US Foods: Keeping Kitchens Cooking
° FOODS KEEPING KITCHENS COOKING.”