Operating expenses of $4.2 billion increased $435 million, or 11.5% from the prior year. 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}}). 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). Some web site features may not function as expected with your current browser version. Markets is acting as its debt capital markets advisor. The City of Mississauga will be hosting the 2023 World Rowing Indoor Championships later this month. US Foods is one of America's leading food distributors servicing restaurants, the healthcare industry, and more. shortly before that time. In fact, in 2017, US Foods achieved an 8% reduction in gallons of fuel used per case delivered, and approximately 8% reduction in Scope 1 and Scope 2 emissions intensity. Andrew Johnstone was named Interim General Counsel at US Foods in November 2022. Become a Customer ; Supporting Your Growth and Success. We undertake no obligation to update or revise any We provide the resources, the technology, and the people to support your business at every step of the way. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. Find out how US Foods can provide hospitals with the tools and resources to help reduce costs and increase foodservice efficiencies. announcement of the acquisition on the ability of SGAs Food Group of Andrew previously served as Chief Merchandising Officer. For over 125 years, weve delivered the excellence, expertise, and quality products our customers need to design successful food operations. Order quickly. He also leads the companys cash and carry channel, which includes 80 CHEFSTORE locations. MOX is our new ordering portal that delivers speed, confidence and control for a better He is responsible for guiding all aspects of the Human Resource strategy around organizational development, strategic planning, talent acquisition, employee engagement, leadership development, training and coaching, talent management, employee relations and culture in support of US Foods strategy of Great Food. 2022 Shamrock Foods. https://www.businesswire.com/news/home/20220216006316/en/, INVESTOR CONTACT: a broad array of foodservice solutions to a wide spectrum of customers The businesses Mayer was a recipient of a Young Leader Scholar award, presented from American Society of Business Publication Editors (ASBPE), which is given annually to only five U.S. journalists, 30 years of age and under. We are truly committed to bringing new ideas to our operators that will help them disrupt their status quo and drive their continued success.. 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. 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. The US Foods app helps you manage your kitchen at all times. 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. These increases were partially offset by $87 million in lower allowance for doubtful accounts expense in fiscal 2021 compared to fiscal 2020 and cost savings initiatives put into place during the second half of fiscal 2020. Net income available to common shareholders was $121 million, an increase of $375 million compared to the prior year. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. Represents our income tax provision (benefit) adjusted for the tax effect of pre-tax items excluded from Adjusted Net income available to common shareholders and the removal of applicable discrete tax items. Excluding the extra week, total case volume increased 18.8% and independent restaurant case volume increased 30.2%. US Foods Holding Corp. (NYSE: USFD) and Services Group of America today maintain relationships with suppliers, and on their operating results Must be able to read and communicate in the English language - able to hold a conversation, to understand highway traffic signs and signals, to respond to official inquiries, and to enter information on reports and records. The second quarter fiscal 2018 conference Our Delivery Drivers make $$1,824.45 weekly! read. At US Foods, our solutions are tailored to fit your specific needs. We believe that Adjusted Net income (loss) is a useful measure of operating performance for both management and investors because it excludes items that are not reflective of our core operating performance and provides an additional view of our operating performance including depreciation, interest expense, and Income taxes on a consistent basis from period to period. 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. We value integrity, reliability and customer relationship skills on our team. Buehler's Fresh Foods is an employee-owned chain of 13 grocery stores located in northeast Ohio. SGAs Food Group of Companies currently operates as five Become a Shamrock Customer. and businesses generally and (6) potential litigation in connection with Adjusted Operating expenses were $3.8 billion, an increase of $622 million, or 19.6% from the prior year, primarily due to the higher labor and distribution costs and the addition of Smart Foodservice, as discussed above, which were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. Adjusted EBITDA increased 63.1% to $1,057 million. {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information. Registering to the FMCSA Clearinghouse is a requirement by the Department of Transportation. He joined US Foods in 2018, serving as the companys Associate General Counsel Litigation and Employment and has a track record of building high-performing teams and delivering with excellence. Keep up-to-date with our latest products and recipes. Andrew is a graduate of Queens University in Kingston, Ontario and University of Toronto Law School. Smart Foodservice was acquired on April 24, 2020. With 25,000 employees and more than 60 locations, US Foods provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. In Fiscal 2022, the Company expects Adjusted EBITDA of $1.2-$1.3 billion and Adjusted Diluted EPS of $1.95-$2.25. The call can also be accessed live over the phone by dialing (844) 292-0976; the conference ID number is 5561796. Shamrock Orders. Thanks to the efforts of our associates, we stayed true to our promise to help our customers Make It," said CEO Pietro Satriano. Culinary Consulting and Nutrition Resources. Your job seeking activity is only visible to you. US Foods is one of the . The transaction Excellent local leadership. 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. If you are able to log into login, but are having trouble with the Clearinghouse registration, see Clearinghouse Help field on the clearinghouse page. Adjusted Gross profit was $1.3 billion, a 21.6% increase from the prior year, primarily driven by an increase in total case volume, pricing optimization, and product cost inflation. Use someone like GFS, Gordon Food Service. David holds degrees in Finance and Mechanical Engineering from the University of Pennsylvania, as well as a Master of Science in Mechanical Engineering from the University of Connecticut and a Master of Business Administration from the Kellogg School of Management at Northwestern University. 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. Our employees share a genuine concern for quality and . to learn more. The event taking place at the Paramount Fine Foods . Made Easy. These increases were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. US Foods will host a live conference call and webcast today, July 30, Companies to retain customers, retain and hire key personnel, and national foodservice company. The webcast, slides, and a copy of this press release can be found in the Investor Relations section of our website at https://ir.usfoods.com. By continuing to use this site, you are giving us your consent to do this. release. company, commented US Foods Chairman and CEO Pietro Satriano. For optimal web site experience, please upgrade to a newer browser version. Adjusting your diet and supplement regiment can help you restore levels of magnesium, promoting mineral sufficiency, and supporting bone health. 844-292-0976; the conference ID number is 7567095. 2023 US FOODS, INC. ALL RIGHTS RESERVED. Year Following Closing. We believe EBITDA and Adjusted EBITDA provide meaningful supplemental information about our operating performance because they exclude amounts that we do not consider part of our core operating results when assessing our performance. fully committed term loan financing from J.P. Morgan and Bank of America Italian pizza has a unique taste and style that enthusiasts worldwide highly revere. Our distribution centers require energy to store, refrigerate and manage our vast portfolio of products. Deep frying food is defined as a process where food is completely submerged in hot oil at temperatures typically between 350 F (177 C) and 375 F (191 C), but deep frying oil can reach temperatures of over 400 F (205 C). About UsFoods service and expanded capabilities, and delivering accelerated growth and The extra week contributed approximately $8 million to Adjusted EBITDA in 2020. Dave previously served as Executive Vice President, Revenue Management and Strategy. business. "At the Beginning, I've Taken Things lightly but with Time Fear Came" Emotions Evolution at Different Stages of the Health Crisis and the Role of Media Literacy: Insights Prior to that Andrew served as Chief Commercial Officer, leading the companys merchandising, pricing and local sales functions, with a focus on developing go-to-market strategies that differentiate US Foods and help the company best serve foodservice operators across the country. 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. Mobile Assistance At Your Fingertips. From 2015 to 2018, Dave was President and Chief Executive Officer of Performance Foodservice, the largest segment of Performance Food Group, a U.S. foodservice distribution company. Heat coconut oil in a large saucepan. Check Business Tools. Weve invested heavily in the tools that make life easier and improve the bottom lines for our customers, says Gene Carbonara, vice president of e-commerce and digital. They naturally live under shady overhangs in slow moving water, so make sure you provide them with plenty of driftwood and aquatic plants to hide under. BECOME A CUSTOMER Download Our App Great Food. Business Trends . In this role, he has P&L responsibility for the companys largest customers, including health care and hospitality as well as regional and national chains. Accounts receivable, less allowances of $33 and $67, Vendor receivables, less allowances of $7 and $5, LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY, Accrued expenses and other current liabilities, Total liabilities, mezzanine equity and shareholders' equity, ($ in millions, except share and per share data), Distribution, selling and administrative costs, Restructuring costs and asset impairment charges, Series A convertible preferred stock dividends, Net income (loss) available to common shareholders, Weighted-average common shares outstanding. Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. You deserve a partner who understands your business and can help you bring it into the future. This is a Employee Are You a Current US Foods in Job Job at US Foods in Eagle WI posted on Oodle Classifieds. For purposes of the Adjusted Diluted EPS calculation (Non-GAAP), when the Company has net income (GAAP), weighted average diluted shares outstanding (Non-GAAP) is used and assumes conversion of the Series A convertible preferred stock, and, when the Company has net loss (GAAP) and assumed conversion of the Series A convertible preferred stock would be antidilutive, weighted-average diluted shares outstanding (GAAP) is used. At US Foods, being one of the largest food service distributors in the country means our customers are never alone. Bill joined US Foods in 2020 from American Tire Distributors, where he served as Senior Vice President of Supply Chain Operations, responsible for the oversight of 115 distribution centers across the United States and a fleet of vehicles accountable for last-mile delivery to customers. Includes the changes in the reserve for doubtful accounts expense reflecting the collection risk associated with our customer base as a result of the COVID-19 pandemic. Previously, we presented Adjusted net income available to common shareholders. Being a part of US Foods means working hard to deliver the products our customers count on to run their businesses every day. Gelsenkirchen, North Rhine-Westphalia, Germany, Bilingual Customer Service Representative, Senior Quality Assurance Automation Engineer, Senior Accounts Assistant - Halliwell Jones Stadium/Rotherham United Football Club, Consultor(a) de Atendimento - Call Center, Safely drive trucks to customers and meet scheduled customer delivery times, Carefully unload products from the trailer with a two-wheeler, pallet jack, or by hand and place in designated customer storage areas, Verify accuracy of delivery with customers and obtain proper signatures, Handle collections and payments from customers when applicable, Professionally perform customer service responsibilities to enhance our client experience, Perform all pre-trip and post-trip equipment inspection, Ability to lift/carry/push/pull 20 to 80+ lbs. Highly Responsible Service. Includes early redemption premium and the write-off of certain pre-existing debt issuance costs. 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. CONTACT US FOODS Call us toll free via phone 1-877-583-9659. That's no small task. Our team of restaurant experts will . February 15, 2021. Tell us about yourself and your business High-Tech. Effective as of the first quarter 2021, we have presented Adjusted net income. Operating expenses as a percent of Net sales were 14.3%. realize the benefits of the acquisition, (5) the effect of the Andrew served as Interim Chief Executive Officer of US Foods from May 2022 January 2023. The chemicals used in the growing, processing, and packaging of food have become an issue of increasing concern among people worldwide since artificial chemicals are known to have a wide range of negative effects on human health. 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. "You will not find anybody else that will treat you any better", "I always feel like I am their number one customer", "Only family owned business that understands that family owned restaurant.". For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results. Food Group:MEDIA:Brad Parker, 480-927-4540Brad_Parker@sgagroup.com, US Foods to Acquire SGAs Food Group of Companies for $1.8 Billion, https://www.businesswire.com/news/home/20180730005289/en/. Investor Relations website at https://ir.usfoods.com. However, Adjusted Gross profit, Adjusted Operating expenses, EBITDA, Adjusted EBITDA, Net Debt, Adjusted Net income (loss) and Adjusted Diluted EPS are non-GAAP financial measures regarding our operational performance and liquidity. Learn More. the combined companys plans, objectives, expectations and intentions, ROSEMONT, Ill.--(BUSINESS WIRE)-- Group of Companies to US Foods, providing customers with even better Prior period amounts have been revised to conform with current year presentation. COVID-19 Update: Learn More Skip to Content Shop We use Net Debt as a supplemental measure to GAAP measures to review the liquidity of our operations. US Foods In doing so, US Foods generates 13 million-plus kilowatt hours (kWh) of electricity annually. At Gordon Food Service, customers are at the center of everything we do. 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