In doing so, US Foods generates 13 million-plus kilowatt hours (kWh) of electricity annually. job title: Customer Service Generalist. Adjusted Diluted EPS is calculated as Adjusted net income divided by weighted average diluted shares outstanding (Non-GAAP), see note 11. 2023 US FOODS, INC. ALL RIGHTS RESERVED. Operating expenses of $4.2 billion increased $435 million, or 11.5% from the prior year. Group of Companies to US Foods, providing customers with even better {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information, Lightning-fast interface, reliable data and tools that give you control, Find the products you need and place orders on the go, Track your order, no matter what it is from pizza dough to pickles, Work across all desktop, tablet and mobile devices. the combined companys plans, objectives, expectations and intentions, US Foods will finance the acquisition primarily with $1.5 billion in Thats what you get when you work with Gordon. Visit www.usfoods.com to learn more. Start your order on USFood.com and finish it on the US Foods app with everything syncing real time. employees. What is Magnesium? Sign in to create your job alert for Delivery Driver jobs in Augusta, GA. By clicking Agree & Join, you agree to the LinkedIn. During the fiscal year the Company reduced total debt by $737 million, reduced the amount of secured debt in its portfolio and extended tenor. Listeners are asked 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. By continuing to use this site, you are giving us your consent to do this. Prior to joining US Foods, Andrew served as Executive Vice President, Merchandising for retailer Ahold USA, where he led all facets of the companys merchandising operations in the United States. set forth in the sections entitled Risk Factors and Forward-Looking Consists primarily of severance and related costs, organizational realignment costs and asset impairment charges. The US Foods app helps you manage your kitchen at all times. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); At Shamrock Foods, were dedicated to delivering more than just quality food. 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. It sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. US Foods new CHECK Business Tools program helps operators make sense of all of the technology solutions to help drive traffic, simplify staffing and reduce waste. 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. Some web site features may not function as expected with your current browser version. Whether youre looking for the food and supplies that your customers demand or expert assistance in every aspect of your business, were here to help. Easy Food Service Ordering. If you are able to log into login, but are having trouble with the Clearinghouse registration, see Clearinghouse Help field on the clearinghouse page. 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}}). Made Easy. Gross profit as a percentage of Net sales was 15.8%. https://www.businesswire.com/news/home/20180730005289/en/, US Foods:INVESTORS:Melissa 1. Tap into our support, ideas expertise and resources to help you with labor and food shortages and changing service demands. Markets is acting as its debt capital markets advisor. He joined Allegheny Power in February 2005, serving as Vice President Distribution and later as President of Allegheny Energy through July 2008. FSA has a Thats no small task. merchandising programs, mature local sourcing capabilities and track Just last year, US Foods launched its Unpronounceable List initiative, which is aimed at producing products with simple, more recognizable ingredients. But how can we avoid something that seems such a normal part of our everyday lives? 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. Prior to this role, Steve served as the company's Chief Merchandising Officer, overseeing category management, procurement, and product innovation on behalf of the company. Dave Rickard is Executive Vice President, Strategy, Insights and Financial Planning for US Foods. Effective as of the first quarter 2021, we have presented Adjusted net income. 2023 US FOODS, INC. ALL RIGHTS RESERVED. national foodservice company. Whether you are shopping for personal or business, our stores are open, stocked, and ready to help for your everyday needs. The conference call will also be webcast live from the companys US Foods values all voices and is committed to a diverse and inclusive workplace that is welcoming, respectful and engaging for all. 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. Dave Flitman joined US Foods as Chief Executive Officer and a member of the US Foods Board of Directors on Jan. 5, 2023. But don't worry, there are many ways to . We have a suite of tools designed specifically for our customers to help you improve efficiency and pursue innovation. Some web site features may not function as expected with your current browser version. restaurants and foodservice operators to help their businesses succeed. Steve began his career in restaurant operations and brings more than 30 years of industry experience to the management team. Before joining US Foods in 2015, Dave served as Vice President for Uline. Net cash provided by operating activities for fiscal 2020 benefited from a reduction in working capital needs, primarily related to reduced sales caused by the COVID-19 pandemic. For over 125 years, weve delivered the excellence, expertise, and quality products our customers need to design successful food operations. "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 In August, US Foods launched US Foods Direct, an exclusive e-commerce platform that gives operators easier access to hard-to-find ingredients, such as specialty spices, seasonings, herbs, pastas, flours, sauces or oils, and on-trend items such as plant-based proteins, dairy-free or vegan alternatives and gluten-free products. In Fiscal 2022, the Company expects Adjusted EBITDA of $1.2-$1.3 billion and Adjusted Diluted EPS of $1.95-$2.25. ago. Certain financial results in this press release have been presented excluding the extra week in the fourth quarter and fiscal year 2020 in an effort to provide comparable results on a year-over-year basis. 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. Adjustments to reconcile net income (loss) to net cash provided by operating activities: Gain on disposal of property and equipmentnet, (Benefit) provision for doubtful accounts. 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. Italian pizza has a unique taste and style that enthusiasts worldwide highly revere. Its truly a one-stop shop for distinctive ingredients that will set our operators menu apart from the competition and help them save time and resources, says Iacobucci. Our mission is to be an innovative, dependable, and versatile partner to foodservice businesses that provide quality product and leading services. Culinary Consulting and Nutrition Resources. At US Foods, being one of the largest food service distributors in the country means our customers are never alone. 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. Thats the fun part. Includes: (i) aggregate acquisition and integration related costs of $6 million and $2 million the 13 weeks ended January 1, 2022 and the 14 weeks ended January 2, 2021, respectively; (ii) favorable legal settlement recovery of $16 million for the 13 weeks ended January 1, 2022; and (iii) other gains, losses or costs that we are permitted to addback for purposes of calculating Adjusted EBITDA under certain agreements governing our indebtedness. By visiting this website, certain cookies have already been set, which you may delete and block. This nutrient acts as one of the body's main electrolytes, which are crucial for mineral balance and hydration. These increases were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. In May, hundreds of US Foods employees participated in Spring into Service, a week-long effort where they packed more than 90,000 meals and snacks to various organizations fighting hunger. US Foods Holding Corp. (NYSE: USFD) and Services Group of America today Merrill Lynch and will fund the balance of the purchase price through About UsFoods 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. Terms of Access: Privacy Policy We provide our operators with unparalleled access to a wide variety of innovative products and services to help our partners set themselves apart from the competition and keep their operations efficient, profitable and easier to manage, says Andrew Iacobucci, chief merchandising officer of the Rosemont, Ill.-based foodservice distributor. Expands Presence Across Attractive and Growing Northwest Region, Expected to Become Accretive to Adjusted EPS in the Second Full US Foods sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. He also leads the companys cash and carry channel, which includes 80 CHEFSTORE locations. 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. A1 Cash & Carry restaurant wholesaler & wholesale distributor specializing in B2B wholesale of commercial kitchen supplies, food packaging, cleaning supplies, meat, seafood supplier, takeout containers wholesale, fruits, vegetables, spices, frozen foods, beverages. The transaction Operating expenses as a percent of Net sales were 14.5%. We want to help you put food on the table. We undertake no obligation to update or revise any forward-looking statements, except as may be required by law. Gross profit increased 23.2% to $1.2 billion. At the closing of the acquisition, US The Company expects to deliver Adjusted EBITDA of approximately $1.7 billion and Adjusted Diluted EPS of approximately $3.40 in 2024. Sara.Matheu@usfoods.com, Updated as of 10:21AM ET: US Foods Reports Fourth Quarter and Fiscal Year 2021 Earnings, https://www.businesswire.com/news/home/20220216006316/en/. Includes COVID-19 related expenses related to inventory adjustments and product donations. Made Easy. isnt just a strategyits the only way to do business. Order quickly. The tax effect of pre-tax items excluded from Adjusted net income is computed using a statutory tax rate after taking into account the impact of permanent differences and valuation allowances. US Foods is a collection of talented professionals dedicated to making a difference in a high-preformance, diverse environment. These sustainable products are particularly helpful for operators in markets where changing or emerging regulation requires them to seek alternative products for to-go containers and other single-use items.. 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. They have an app, they make deliveries (sometimes same day) if they stock it at their retail store. We also believe these and similar non-GAAP financial measures are frequently used by securities analysts, investors, and other interested parties to evaluate companies in our industry. Business Trends . Benefits medical, dental, vision, 401K, life insurance, strong safety culture, and much more! The fourth quarter of fiscal year 2021 included 13 weeks compared to 14 weeks for the fourth quarter of fiscal year 2020, and the full fiscal year 2021 included 52 weeks compared to 53 . Featured Products Want help fulfilling rush orders? David joined the company in February 2018. Join our team. It's designed to help you drive traffic, simplify your staffing and reduce waste - ultimately helping you make more money and unlock your potential. From quality assurance to innovative trends, weve got you covered. Previously, we presented Adjusted net income available to common shareholders. He is responsible for corporate strategy, including exploring new businesses opportunities. Management uses these non-GAAP financial measures (a) to evaluate our historical and prospective financial performance as well as our performance relative to our competitors as they assist in highlighting trends, (b) to set internal sales targets and spending budgets, (c) to measure operational profitability and the accuracy of forecasting, (d) to assess financial discipline over operational expenditures, and (e) as an important factor in determining variable compensation for management and employees. 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}}). 2005, serving as Vice President, Strategy, including exploring new businesses opportunities never alone it from. 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