Some web site features may not function as expected with your current browser version. At the closing of the acquisition, US Employment agencies that have fee agreements with US Foods and have been engaged on a search shall submit rsum to the designated US Foods recruiter or, upon US Foods authorization, submit rsum into this career site to be eligible for placement fees. Adjusted EBITDA increased 63.1% to $1,057 million. Year Following Closing. The increase was primarily due to higher supply chain labor costs and higher non-labor distribution costs directly attributed to the increase in total case volume. Total case volume increased 6.3%; independent restaurant case volume increased 13.0%. Keep up-to-date with our latest products and recipes. acquisition may not be satisfied in a timely manner, (4) failure to Gross profit as a percentage of Net sales was 16.3%. Additionally, US Foods operates 14 processing facilities, including 12 Stock Yards facilities that provide high-quality center-of-plate, custom-cut and packaged-to-customer specifications; Freshway Foods, a fruit and vegetable processor, re-packer and distributor; and Save On Seafood, a seafood processor and distributor.. Add in the chopped onion and red pepper and brown for a few minutes, then add 2 cloves of garlic and 1 chopped red chilli, stir to combine. Net income available to common shareholders was $121 million. Being a part of US Foods means working hard to deliver the products our customers count on to run their businesses every day. fiscal 2020. Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Company with the SEC, which are available on the SECs website at www.sec.gov. Short-term stress causes your adrenal glands to release a potent mixture of adrenaline and cortisol, otherwise known . Jay previously served as Executive Vice President, Locally Managed Sales and also served as interim Chief Supply Chain Officer from October 2019 to February 2021. the acquisition. High-Touch. For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results. restaurants and foodservice operators to help their businesses succeed. Sun., Feb. 19, 2023 timer 1 min. He is responsible for field operations across the country, including all financial (P&L) results. Statements in this press release which are not historical in nature, including those under the heading Outlook for Fiscal Years 2022 and 2024, are forward-looking statements within the meaning of the federal securities laws. Shamrock Orders. You want to feed people. For instance, our latest 2019 Summer Scoop featured delivery, take-out, grab-and-go and retail product solutions to address the fast-paced growth of the convenience dining market, says Kinkaid. Investor Relations website at https://ir.usfoods.com. For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com. read. Prior to joining American Tire Distributors, Bill served as the Vice President of Global Supply Chain Operations for Target Corporation where he spent 14 years in various supply chain roles with the company. No matter your size or need, we are equipped to serve you. Get to know the inspiring people who have the depth and breadth of leadership to take US Foods to an even higher level of success for customers . In this role, he is responsible for all warehousing, transportation, and supply chain strategy and operations, as well as safety, labor relations and continuous improvement. Among the risks Heat coconut oil in a large saucepan. Want help fulfilling rush orders? of product repetitively during each shift required, Comfortable driving and working in inclement weather conditions with frequent stops (10+ per shift) required, Must have valid CDL Class A issued by the state of legal residence with necessary endorsements and DOT qualifications, Minimum of six months commercial driving experience (any industry) OR three months commercial driving experience in the food and/or beverage delivery industry required, Ability to operate manual transmission preferred; may be required in specific locations. Adjusted EBITDA is EBITDA adjusted for (1) Restructuring costs and asset impairment charges; (2) Share-based compensation expense; (3) the non-cash impact of LIFO reserve adjustments; (4) loss on extinguishment of debt; (5) Business transformation costs; and (6) other gains, losses or costs as specified in the agreements governing our indebtedness. To date, US Foods partners with 250,000 customers, including independently owned single and multi-unit restaurants, restaurant concepts and chains, hospitals, nursing homes, hotels/motels, country clubs, government and military organizations, colleges/universities and retail locations nationwide to provide approximately 400,000 fresh, frozen and dry foods and non-food items. Use someone like GFS, Gordon Food Service. Many of the products highlighted in this Scoop launch are also part of our Serve Good sustainable product portfolio. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance periods. suite of e-commerce, technology and business solutions. Choose My Signature. 2023 US FOODS, INC. ALL RIGHTS RESERVED. He previously served on the Executive Committee of the Board of Directors of the Northern Illinois Food Bank. We provide the resources, the technology, and the people to support your business at every step of the way. US Foods Holding Corp. (NYSE: USFD),one of the largest foodservice distributors in the United States, today announced results for the fourth quarter and full fiscal year 2021. a broad array of foodservice solutions to a wide spectrum of customers We offer a wonderful product- quality food, using local partners and ingredients, at family-friendly prices, and excellent customer service. Melissa.Napier@usfoods.com, MEDIA CONTACT: After all, doing more than the competition isn't just a goal - it's a promise. maintain relationships with suppliers, and on their operating results approach to technological leadership to serve customer needs. to learn more. Innovative food, culinary equipment, trends and events, Tools that build your brand and increase your bottom line, Our commitment, exclusive support and dedicated people, {{data.customerName}} ({{data.customerNumber}}), {{dept.departmentName | truncateList}} ({{dept.departmentNumber}}), {{dept.departmentName | truncateList}}({{dept.departmentNumber}}). An archived copy of the webcast will be JT joined US Foods in 2021, previously serving as Executive Vice President and Chief Information Officer at Tech Data Corporation, a Fortune 100 global distributor of business and consumer technologies, where he was responsible for the companys global innovation strategy, information digital capabilities and operations. Since April 2021, Dave served as President and Chief Executive Officer of Builders FirstSource, the largest U.S. supplier of building products, prefabricated components, and value-added services with annual revenues of approximately $20 billion. It is one of the Big Five American . They have an app, they make deliveries (sometimes same day) if they stock it at their retail store. Smart Foodservice was acquired on April 24, 2020. Our mission is to be an innovative, dependable, and versatile partner to foodservice businesses that provide quality product and leading services. Total organic case volume increased 14.8%; independent restaurant organic case volume increased 25.1%. US Foods will finance the acquisition primarily with $1.5 billion in By closing this message or continuing to use our site, you agree to the use of cookies. We believe that Adjusted Net income (loss) may be used by investors, analysts, and other interested parties to facilitate period-over-period comparisons and provides additional clarity as to how factors and trends impact our operating performance. customers and our Associates., Compelling Strategic and Financial Benefits. Previously, we presented Adjusted net income available to common shareholders. The ability to more accurately manage inventory via the e-commerce platform helps operators improve their menu planning and profitability. In this role, he is responsible for leading teams focused on managing and optimizing key business processes for the company. Plan assumes continued execution of the Companys existing strategy and that US Foods will continue to grow at 1.5x the market rate for restaurants and at market rate for other customer types. Guy Babbitt is Senior Vice President of Shared Business Services for US Foods. US Foods is one of America's leading food distributors servicing restaurants, the healthcare industry, and more. You can unsubscribe from these emails at any time. From healthcare to college and university, hotel and everything in between we know each of our customers has unique challenges in their operation. US Foods will have the right to hire that applicant at its discretion without any fee owed to the submitting employment agency, person or entity. When you consider a business model you might think of a group of investors or maybe a charismatic inventor or entrepreneur in the right place at the right time. Food is community. During the fiscal year the Company reduced total debt by $737 million, reduced the amount of secured debt in its portfolio and extended tenor. Please select one option field is required. Thats because inventory management is a natural complement to e-commerce, and US Foods mobile inventory is designed to work wherever customers are, even if theyre offline. Order online wholesale food distributor Ontario Technology solutions that help operators with their day-to-day operational needs continue to play a key role in the future of foodservice distribution, says Iacobucci. In addition to his previous experience as a director of Builders FirstSource and BMC Stock Holdings, Dave also has been a director since 2017 at Veritiv Corporation, a leading packaging distribution company, where he is currently a member of the Audit and Finance Committee and chair of the Compensation and Leadership Development Committee. Get questions answered. Firstly, it's important to differentiate between short-term and chronic long-term stress. Jay received his Bachelor of Arts degree in Marketing Management from Concordia University in St. Paul. Youve got tight margins. Outlook for Fiscal Years 2022 and 2024 As part of the companys commitment to corporate social responsibility, US Foods is continually improving the efficiency of its new and existing facilities and fleet. With thousands of employees across the country and readily available tools, resources, and customer support, we partner with our customers every step of the way to help them make it. The tax effect of pre-tax items excluded from Adjusted net income available to common shareholders is computed using a statutory tax rate after taking into account the impact of permanent differences and valuation allowances. US Foods will host a live conference call and webcast today, July 30, In addition to his corporate work, jt has spent much of his personal time working with several non-profits that forward diversity and inclusion causes, including giving testimony in the Florida legislature. Make it easy with US Foods CHECK Business Tools. Gross profit of $1.2 billion increased $234 million, or 23.2%, from the prior year, primarily as a result of an increase in total case volume, pricing optimization, and inflation in multiple product categories. Restructuring costs and asset impairment charges (1), COVID-19 product donations and inventory adjustments (7), Business acquisition and integration related costs and other (9), Weighted-average diluted shares outstanding (Non-GAAP) (13). US Foods Holding Corp. (NYSE: USFD) and Services Group of America today Andrew Johnstone was named Interim General Counsel at US Foods in November 2022. Its about working with a team dedicated to you and your customers. Were looking for driven individuals who relish the chance to push their potential, grow and reap the rewards of joining the US Foods family. This is an exciting milestone on our He also served as the president of the Enterprise Business Unit at Windstream. We understand this. Napier, 847-720-2767Melissa.Napier@usfoods.comorMEDIA:Sara Track our trucks' location right up to your delivery and organize your invoices. Listeners are asked PLEASE APPLY DIRECTLY THROUGH OUR INTERNAL WORKDAY CAREER SITE. Heres why it was named Refrigerated & Frozen Foods 2019 Foodservice Distributor of the Year. ROSEMONT, Ill. & SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Cash, cash equivalents and restricted cash, (1) Trailing Twelve Months (TTM) Adjusted EBITDA, View source version on businesswire.com: We believe the presentation of Adjusted Diluted Earnings per Share is useful to investors because the measurement excludes amounts that we do not consider part of our core operating results when assessing our performance. ** US Foodsis proud to have donated $10 million in food to help with COVID-19 relief efforts to help ourlocal communities make it. If you have not registered to the FMCSA database, please note registration is required. Shamrock Foods is an EEO/AA Employer. Dirk Locascio is Chief Financial Officer of US Foods, a role he has served in since February 2017. But we believe it's all about teaming up to find efficient solutions, tackling challenges head-on and nurturing a spirit of passion for the work. realize the benefits of the acquisition, (5) the effect of the Dave Rickard is Executive Vice President, Strategy, Insights and Financial Planning for US Foods. 2021 was a year of resilience and recovery. Adjusted Diluted EPS is calculated as Adjusted net income divided by weighted average diluted shares outstanding (Non-GAAP), see note 13. But how can we avoid something that seems such a normal part of our everyday lives? Sign up today and get inspiration straight to your inbox. For a detailed discussion of these risks, uncertainties and other factors that could cause our results to differ materially from those anticipated or expressed in any forward-looking statements, see the section entitled Risk Factors in our Annual Report on Form 10-K for the fiscal year ended January 2, 2021, which was filed with the Securities and Exchange Commission (SEC) on February 16, 2021. He is responsible for corporate strategy, including exploring new businesses opportunities. statements include, but are not limited to, statements about the SGAs Food Group of Companies, for $1.8 billion in cash. Today, the portfolio includes more than 350 sustainable food and non-food items with another 500 seafood products currently undergoing the companys Progress Check program, which recognizes seafood products that are on the way to meeting US Foods Serve Good program sustainability standards. The Unpronounceables List includes more than 80 ingredients such as artificial flavors, artificial colors, high-fructose corn syrup, disodium guanylate, sodium benzoate and monosodium glutamate the company will avoid using in more than 1,000 of its Exclusive Brand products. The US Foods e-commerce site offers lists management to help customers keep all their orders organized and drive consistency.. Join Our. Net Debt is defined as total debt net of total Cash, cash equivalents and restricted cash remaining on the balance sheet as of the end of the most recent fiscal quarter. Prior to joining BNP Media, she served a five-year tenure as editor of quality control for Manufacturers' News, Inc., where she was named Manager of the Year in 2006. For optimal web site experience, please upgrade to a newer browser version. We serve over 43,000 customer locations with 200,000 different products. In that role, he was responsible for leveraging technology to simplify processes and deliver a differentiated customer experience. Our Serve Good product portfolio features products that are responsibly sourced or contribute to waste reduction. Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. US Foods (formerly known as U.S. Foodservice) is an American foodservice distributor.With approximately $24 billion in annual revenue, US Foods was the 10th largest private company in America until its IPO. Co. LLC is acting as financial advisor to Services Group of America, and Share-based compensation expense for expected vesting of stock awards and employee stock purchase plan. And, US Foods Mobile allows operators to check, edit, create new orders and track deliveries on their mobile or tablet device. said, For the past 46 years, we have had the vision to become a leading You deserve a partner who understands your business and can help you bring it into the future. Prior to joining Ahold, he spent 10 years at Loblaw Companies Limited, a leading Canadian food retailer, where he served in several senior roles including president of the companys discount supermarket business. By visiting this website, certain cookies have already been set, which you may delete and block. Become a Shamrock Customer. Get to know the inspiring people who have the depth and breadth of leadership to take US Foods to an even higher level of success for customers, employees and stakeholders. Statements in this press release, including financial estimates and Mobile Assistance At Your Fingertips. Find out how these tools can reduce costs and improve efficiencies. The acquisition is subject to regulatory approval and other customary Terms of Access: Privacy Policy Made Easy. isnt just a strategyits the only way to do business. Consists primarily of costs related to significant process and systems redesign across multiple functions. Dave began his career at DuPont where he spent 20 years in various operational, commercial and global business leadership positions. closing conditions. ROSEMONT, Ill.-- (BUSINESS WIRE)-- US Foods Holding Corp. (NYSE: USFD) announced that effective March 1, Smart Foodservice Warehouse Stores will be rebranded as US Foods CHEF'STORE. Prior to joining US Foods, he held senior finance roles with United Airlines and in public accounting with Arthur Andersen LLP. Excellent local leadership. to please dial in 10 minutes prior to the call start time and provide US Foods will host a live webcast to discuss fourth quarter and fiscal year 2021 results on February 17, 2022 at 9 a.m. CST. By closing this message or continuing to use our site, you agree to the use of cookies. We use Adjusted Diluted Earnings per Share, which is calculated by adjusting the most directly comparable GAAP financial measure, Diluted Earnings per Share, by excluding the same items excluded in our calculation of Adjusted EBITDA to the extent that each such item was included in the applicable GAAP financial measure. national foodservice company. We help YOU make it! Organic financial results exclude contributions from Smart Foodservice through April 23, 2021. US Foods Holding Corp. traces its roots back more than 150 years to the Reid-Murdoch Co., a Dubuque, Iowa, company that delivered supplies on wagon trains to the Western Frontier. EOE Race/Color/Religion/Sex/Sexual Orientation/Gender Identity/National Origin/Protected Veteran/Disability Status***. 2013 - 20152 years. Copyright 2023. He joined US Foods in 2017. BECOME A CUSTOMER Download Our App Great Food. US Foods is one of the . Davis Polk & Wardwell LLP is acting as its legal advisor. record of operational excellence will be strong additions to our Includes early redemption premium and the write-off of certain pre-existing debt issuance costs. The Unpronounceables List initiative truly aligns with our desire to make it easier for our operators to align with the demand for simple, back to the basics ingredients, says Kinkaid. Net sales of $29.5 billion increased 28.8%. Melissa Napier The US Foods app helps you manage your kitchen at all times. Tools can reduce costs and improve efficiencies limited to, statements about the SGAs Food Group Companies! Maintain relationships with suppliers, and more our trucks & # x27 ; location right to!, depend on various factors, and could have a material impact on GAAP results. Are also loaded with heavy chemicals keep all their orders organized and drive consistency.. Join our every.. Your delivery and organize your invoices a team dedicated to you and your customers Track! 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