Core Insights - US Foods Holding has launched Menu IQ, an AI-driven tool designed to assist restaurants in tracking and managing food costs, thereby supporting data-driven menu planning decisions [1][5] - The introduction of Menu IQ addresses the primary concern of restaurant operators regarding menu profitability, as highlighted by the company's senior vice-president of digital commerce, James Jones [2] Group 1: Product Features - Menu IQ is integrated within MOXē, US Foods' consolidated business application, providing users with access to product catalogs, inventory management, and order tracking [1][5] - The tool features AI recipe management, allowing operators to upload recipes for automatic calculation of ingredients and food costs [4] - A real-time profitability tracking function offers continuous insights into which menu items contribute most to margins, accessible from any location [4] Group 2: Operational Benefits - Menu IQ is designed to align with existing restaurant workflows, enabling staff to transition from analysis to action without complex processes [3] - The platform provides actionable insights, identifying underperforming dishes and suggesting areas for improvement to enhance profitability [4] - The tool is connected with MOXē Inventory, allowing operators to access real-time cost data through the US Foods food cost calculator [5]

Core Insights - The Chefs' Warehouse, Inc. (NASDAQ:CHEF) reported Q4 revenue of $1.14 billion, exceeding the consensus estimate of $1.1 billion, indicating strong business activity and demand during the holiday season [1][6] - The company anticipates FY26 revenue between $4.35 billion and $4.45 billion, slightly above the consensus of $4.4 billion, reflecting ongoing growth momentum [2] - Benchmark raised its price target for The Chefs' Warehouse to $84 from $79, maintaining a Buy rating due to strong underlying business momentum [2] Financial Performance - Q4 revenue reached $1.14 billion, surpassing the consensus of $1.1 billion, showcasing effective execution in both domestic and international markets [1][6] - The projected FY26 revenue range is $4.35 billion to $4.45 billion, indicating a positive outlook for the company's financial performance [2] Market Position - The company is experiencing consistent growth in market share, with year-over-year organic volume growth, unique item placements, and new customer acquisitions [1] - The Chefs' Warehouse distributes specialty food and center-of-the-plate products across the United States, the Middle East, and Canada, highlighting its broad market reach [3]

Sysco Corporation (NYSE:SYY) is included among the 16 Best Dividend Stocks with Rising Payouts. Sysco (SYY) PT Lifted by Guggenheim as Firm Highlights Importance of Local Case Growth On February 13, Guggenheim raised its price recommendation on Sysco Corporation (NYSE:SYY) to $95 from $91. It reiterated a Buy rating on the shares. The firm did not change its earnings estimates for 2026 and 2027. It said that Sysco’s “nearly unprecedented” 22% run relative to the S&P 500 so far this year has made near-ter ...

HOUSTON, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Sysco Corporation, the global leader in food distribution, is launching a pilot Home Grown by Sysco program dedicated to bringing locally sourced foods and artisan products to more customers and communities. The Home Grown by Sysco program will make it easier for sales teams and customers to identify about 10,000 locally sourced products on the Sysco Shop website and mobile app. The pilot beginning February 24 includes the Great Lakes, Northeast and South Florida r ...

Sysco Corporation Conference Call Summary Company Overview - **Company**: Sysco Corporation (NYSE:SYY) - **Industry**: Food Service Distribution - **Fiscal 2025 Sales**: Approximately $81 billion - **Customer Locations**: Roughly 730,000 - **Sales Composition**: 60% from restaurants, 40% from recession-resistant sectors (government, education, healthcare, large campuses) [1][4][5] Core Business Insights - **Market Position**: Leading global distributor in the food away from home industry with the highest market share and profitability [4][29] - **Specialty Foods**: Number one specialty foods distributor with multiple brands exceeding $1 billion in sales, contributing over $10 billion annually [4] - **International Growth**: Nine consecutive quarters of double-digit profit growth in international markets, with a focus on expanding fulfillment capacity and product assortment [5][9][14] Growth Drivers - **Market Trends**: Food away from home continues to gain market share from grocery, driven by busy lifestyles, food innovation, and improved to-go experiences [6][7][8] - **U.S. Market Share**: Sysco holds approximately 18% market share in a $377 billion U.S. food service market, with the potential for further growth [8][9] - **Non-Commercial Segment**: This segment is growing faster than the restaurant business, indicating resilience against economic fluctuations [10] Financial Performance - **Sales Growth Guidance**: Reiterated guidance for FY 2026 with sales growth of 3%-5% and adjusted EPS growth of 1%-3% [30] - **Historical Performance**: Achieved CAGRs of 5% on the top line and 9% on the bottom line over the past four years [30] - **Operating Leverage**: Positive operating leverage with gross profits growing faster than operating expenses [31] Strategic Initiatives - **Sales Improvement**: Focus on improving sales consultant retention and productivity through training and technology [15][27] - **Merchandising Strategy**: Transitioning to a center-led merchandising strategy to optimize product assortment and supplier relationships [19][20] - **M&A Opportunities**: Continued focus on strategic acquisitions to drive growth, targeting an average contribution of 50 basis points from M&A [36] Capital Allocation and Shareholder Returns - **Dividend Growth**: Commitment to long-term dividend growth, with a target payout ratio of 40%-50% of EPS [44][45] - **Share Repurchase**: Plan to return approximately $1 billion to shareholders through share repurchases [44] - **Cash Flow Generation**: Generated approximately $1.8 billion in cash flow last year, demonstrating strong quality of earnings [34] Market Outlook - **Confidence in Growth**: Strong confidence in achieving at least 2.5% local volume growth in the second half of the fiscal year, supported by internal initiatives and M&A contributions [12][26] - **Resilience in Various Sectors**: Continued growth in travel, leisure, education, and healthcare sectors, which are generally recession-resilient [32] Conclusion - **Investment Thesis**: Sysco is positioned as a compelling investment opportunity due to its leadership in a growing industry, strong financial performance, and commitment to shareholder returns [46][48]

February 17, 2026 CAGNY 2026 Forward-Looking Statements Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions, including those outside of Sysco's control. Risks and uncertainties include without limitation: the impact of geopolitical, economic and market conditions and developments, including changes in global trade policies and tariffs and foreign conflicts; risks related to our bu ...

Flitman said the company continued to capture share gains across independent restaurants, healthcare, and hospitality, while also driving cost initiatives. He highlighted more than $150 million of cost of goods savings in 2025 and said the company now expects at least $300 million of cost of goods savings over the three-year plan, up from an original goal of $260 million. He also cited an approximately $40 million gross profit benefit from improved inventory management (above a prior $35 million estimate) a ...

Core Insights - US Foods Holding Corp. reported fourth-quarter adjusted earnings that exceeded analyst expectations, with adjusted EPS of $1.04 compared to the consensus of $1.01, although revenue was slightly below forecasts [1] - The company's shares rose more than 9% intra-day following the earnings announcement [1] Financial Performance - Quarterly revenue reached $9.8 billion, a 3.3% increase year over year, but fell short of the projected $9.94 billion [2] - Total case volume grew by 0.8% in the quarter, with independent restaurant case volume showing stronger growth of 4.1% [2] - Net income surged by 178.8% to $184 million, while adjusted EBITDA rose by 11.1% to $490 million [2] - Adjusted EBITDA margin expanded by 35 basis points to 5.0% compared to the prior-year quarter [2] Future Projections - For full-year 2025, US Foods generated net sales of $39.4 billion, up 4.1% year over year, with net income rising by 36.8% to $676 million [3] - Looking ahead to fiscal 2026, the company projected net sales growth of 4% to 6%, adjusted EBITDA growth of 9% to 13%, and adjusted diluted EPS growth of 18% to 24% [3] - Fiscal 2026 will include a 53rd week, expected to contribute approximately 1% to total case growth and adjusted EBITDA growth [3]

Financial Data and Key Metrics Changes - In 2025, adjusted EBITDA grew 11% to over $1.9 billion, with an adjusted EBITDA margin expansion of 30 basis points to a record 4.9% [5][24] - Adjusted earnings per share (EPS) reached a record of $3.98, reflecting a 26% growth, which was more than double the adjusted EBITDA growth rate [5][24] - Fourth quarter net sales increased 3.3% to $9.8 billion, driven by total case volume growth of 0.8% and food cost inflation and mix impact of 2.5% [21][22] Business Line Data and Key Metrics Changes - Independent restaurant case volume grew 4.1%, marking the strongest net new independent account growth of the year at approximately 4.7% [9][22] - Healthcare and hospitality segments grew 2.9% and 3.1%, respectively, in the fourth quarter, with healthcare achieving 21 consecutive quarters of share gains [9][22] - Chain restaurant volume decreased by 3.4%, primarily due to slower industry traffic and strategic exits [22] Market Data and Key Metrics Changes - Chain restaurant foot traffic was down 2.8% in the fourth quarter, reflecting a deceleration of 230 basis points from the third quarter [7] - Despite industry headwinds, the company remains confident in capturing profitable market share in a highly fragmented industry [8] Company Strategy and Development Direction - The company is focused on executing its long-range plan from 2025 to 2027, emphasizing operational excellence and productivity initiatives [4][5] - The introduction of a 100% variable compensation structure for the sales force is expected to drive long-term growth and higher earnings potential [15][32] - The company aims to enhance its technology leadership through new AI capabilities and improve customer service experiences [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2026 financial targets despite weather-related disruptions in early 2026 [30][31] - The company anticipates a lower inflationary environment compared to 2025, projecting adjusted EBITDA growth of 9%-13% and adjusted diluted EPS growth of 18%-24% for 2026 [29] - Management remains optimistic about the underlying momentum of the business, particularly in independent case growth [41][74] Other Important Information - The company repurchased approximately $930 million of its shares and completed two tuck-in acquisitions for over $130 million in 2025 [6][27] - The corporate credit rating was upgraded by Moody's to Ba1, reflecting solid operating performance and improved credit metrics [28] Q&A Session Summary Question: Can you provide more color on quarter-to-date volumes and underlying momentum? - Management noted strong momentum in early January, rebounding from weather-related disruptions, and highlighted the strongest organic independent case growth in two years [41] Question: What are your expectations regarding inflation and its impact on gross profit per case? - Management indicated that self-help initiatives remain the primary drivers of gross profits, and while disinflation had a slight negative impact, strong results were still achieved [44] Question: How do you view the sales force expansion and its impact on case growth? - Management clarified that the 7% sales force expansion included internal transfers, and productivity is expected to ramp up significantly in the latter half of 2026 [50] Question: Is the net new business growth driven by headcount growth or existing salespeople? - Management stated that net new business growth is driven by both increased productivity from existing sales force and consistent hiring over the past three years [60] Question: What is the expected impact of the new compensation structure on seller productivity? - Management expects seller productivity to remain neutral to positive during the transition to the new compensation structure, emphasizing a thoughtful approach to individual transitions [82]

Fourth Quarter and Fiscal Year 2025 Results February 12, 2026 Disclaimer Page Cautionary Statements Regarding Forward-Looking Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, forecasted financial performance or guidance, statements about future results of operations and other statements which are not purely historical facts or that necessarily depend upon ...