- Formerly AOL Advertising/Verizon Media/Oath. 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. We also have COVID-19 Wellness Checks for anyone entering our facilities and safety barriers in select locations inour production facilities. Starting in late 2012, Dave was Senior Executive Vice President at Nalco until it was acquired by Ecolab where he served as Executive Vice President and President, Water and Process Services. 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. Excluding the extra week, total case volume increased 13.0% and independent restaurant case volume increased 20.6%. Since beginning his foodservice career more than 25 years ago as a warehouse selector, Guy has served in a variety of leadership roles, including operations, sales, IT, strategy and finance. Become a Customer ; Supporting Your Growth and Success. Augusta, GA, Join to apply for the Delivery Driver role at US Foods. He earned a bachelors degree in chemical engineering from Purdue University. Total case volume increased 16.9% from the prior year, while total organic case volume increased 14.8%. and uncertainties that could cause actual results to differ from those Magnesium, an abundant mineral in the body, is naturally present throughout nature and in many of the foods that we eat. Because of their aggressive feeding habits, make sure th Previously, she worked as an editorial assistant for Insider Magazine and worked as a contributing features writer for her college newspaper, the Indiana Daily Student. release. 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. announced separately today. 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 . December 30, 2017, which was filed with the Securities and Exchange Youve got tight margins. 2021 was a year of resilience and recovery. EBITDA is Net income (loss), plus Interest expense-net, Income tax provision (benefit), and Depreciation and amortization. She is a graduate of Indiana University with a bachelors in journalism. 2013 - 20152 years. MOX is our new ordering portal that delivers speed, confidence and control for a better John Tonnison (jt) is Executive Vice President, Chief Information & Digital Officer. Adjusted Gross profit as a percentage of Net sales was 16.3%. Andrew served as Interim Chief Executive Officer of US Foods from May 2022 January 2023. Any employment agency, person or entity that submits a rsums into this career site or to a hiring manager does so with the understanding that the applicant's rsums will become the property of US Foods. I am confident that our foundation of efficient and reliable customer service, differentiated solutions, and unique omni-channel experience, supported by a robust plan of targeted initiatives to deliver significant Adjusted EBITDA growth through 2024 and beyond, will drive meaningful value creation for our shareholders.. Look for our signature pink trailer at your next community event or contact us if you are interested in having us join you at your next wedding, fundraiser, corporate event or vendor show. Find out how US Foods can provide hospitals with the tools and resources to help reduce costs and increase foodservice efficiencies. Thank you for your interest in becoming a Shamrock Foods customer. Consists primarily of severance and related costs, organizational realignment costs and asset impairment charges. Share-based compensation expense for expected vesting of stock awards and employee stock purchase plan. Join our team and immediately become part of the largest distributor of conventional, natural, organic and specialty products in the United States and Canada. Since joining the company in 2009, Dirk has served in a variety of finance and accounting leadership roles including Senior Vice President, Financial Accounting and Analysis, where he had oversight of the companys corporate finance and accounting functions. Decide on what kind of signature to create. Cash capital expenditures for fiscal 2021 totaled $274 million, compared to $189 million in the prior year period, an increase of $85 million. US Foods drivers are essential to our distribution chain. Samyang Foods Co., Ltd, established in 1961, has been walking a single path, pursuing honesty and trust for over 50 years. Mobile Assistance At Your Fingertips. Adjusted Gross profit is Gross profit adjusted to remove the impact of the LIFO inventory reserve adjustments. 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. Presentation slides will be available shortly before the webcast begins. Stay connected with Shamrock Foods. Operating expenses of $1.1 billion increased $127 million, or 13.0% from the prior year. employment type: full-time. In 2016, US Foods introduced the Serve Good program, a line of 25 products, including certified-organic eggs, sustainably sourced seafood and more to help chefs and foodservice operators meet growing diner demand for more sustainable ingredients. 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. Come drive for us. 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. Tap into our support, ideas expertise and resources to help you with labor and food shortages and changing service demands. 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. Steve began his career in restaurant operations and brings more than 30 years of industry experience to the management team. 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. US Foodsis proud to have donated $10 million in food to help with COVID-19 relief efforts to help ourlocal communities make it. 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. All Drivers are required to the Clearinghouse website and register to the new database. Please select one option field is required. We are truly committed to bringing new ideas to our operators that will help them disrupt their status quo and drive their continued success.. With 69 broadline locations and 80 cash and carry stores, US Foods and its 28,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. "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.". Click the link in the email we sent to to verify your email address and activate your job alert. Additionally, we operate in a highly competitive and rapidly changing environment; new risks and uncertainties may emerge from time to time, and it is not possible to predict all risks nor identify all uncertainties. 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. He also provides financial planning leadership and leads the insights and analytics team. We also check order history and look for unusual order quantities. By closing this message or continuing to use our site, you agree to the use of cookies. Become a Customer in 3 easy steps. 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. At US Foods, being one of the largest food service distributors in the country means our customers are never alone. Applicable discrete tax items include changes in tax laws or rates, changes related to prior year unrecognized tax benefits, discrete changes in valuation allowances, and excess tax benefits associated with share-based compensation. the combined companys plans, objectives, expectations and intentions, company, commented US Foods Chairman and CEO Pietro Satriano. These non-GAAP financial measures exclude the impact of certain items and, therefore, have not been calculated in accordance with GAAP. Adjusted EBITDA increased 50.6% to $262 million. Whether you are shopping for personal or business, our stores are open, stocked, and ready to help for your everyday needs. has been unanimously approved by US Foods Board of Directors. 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. Prior period amounts have been revised to conform with current year presentation. Net Debt at the end of fiscal year 2021 was $4.9 billion, a decrease of $57 million versus the end of fiscal 2020. Foods pro forma net leverage is expected to be 4.1x. 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. 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. Prior to joining the company, he worked for Sears Holdings Management Corp from 2013 - 2018 as head of litigation and employment and practiced law at Winston & Strawn LLP and Kirkland & Ellis LLP from 1998 - 2013, with a one-year break from 2002 - 2003 clerking for Judge Amy St. Eve during her first year on the bench in the Northern District of Illinois. Learn morehere. The ratio of Net Debt to Adjusted EBITDA was 4.6x at the end of fiscal 2021, as compared to 7.6x at the end of fiscal 2020. 1 The Company is not providing a reconciliation of certain forward-looking non-GAAP financial measures, including Adjusted EBITDA and Adjusted Diluted EPS, because the Company is unable to predict with reasonable certainty the financial impact of certain significant items, including restructuring costs and asset impairment charges, share-based compensation expenses, non-cash impacts of LIFO reserve adjustments, losses on extinguishments of debt, business transformation costs, other gains and losses, business acquisition and integration related costs and diluted earnings per share. 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. Extended oil drain schedules reduce oil use and create less oil waste, and the utilization of lighter-weight oil in vehicles helps improve fuel economy. Delivering products by truck is core to our business, says Dario Skocir, senior vice president field operations. Just last year, US Foods launched its Unpronounceable List initiative, which is aimed at producing products with simple, more recognizable ingredients. US Foods sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. Dave received a Master of Business Administration from the Booth School of Business at the University of Chicago, a Bachelor of Arts in Economics from Middlebury College and a General Course Degree in Economics from the London School of Economics. He is responsible for field operations across the country, including all financial (P&L) results. Place an Order Food is community. 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. Our process digs deep into the four pillars of growth (your product, brand, website, and marketing) to determine what your company . restaurants and foodservice operators to help their businesses succeed. As one of America's leading food distributors, we'll provide everything you need. We're in our 46th year of business, and we are looking for enthusiastic, outgoing candidates to become a part of our full-time Juice Bar team. Visit www.usfoods.com Net income available to common shareholders was $121 million, an increase of $375 million compared to the prior year. Net sales of $7.6 billion for the quarter increased 24.5% from the prior year. 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. COVID-19 Update: Learn More Skip to Content Shop With 25,000 employees and more than 60 locations, US Foods provides its Represents the non-cash impact of LIFO reserve adjustments. People gather around a table to break bread. We are using data and analytics to merchandise and prevent order entry errors, and we use analytics to remind customers the products they frequently purchase that were left off their order. In the United States, the vast majority of investor-owned businesses form with the most powerful at the top and the most productive, or the people producing the labor or product, at the bottom. Effective as of the first quarter 2021, we have presented Adjusted net income. US Foods acquired Smart Foodservice Warehouse Stores in April 2020 to . Copywriting is the act or occupation of writing text for the purpose of advertising or other forms of marketing. An archived copy of the webcast will be 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. US Foods is The increase in case volume was primarily the result of restaurant traffic from lifting governmental in-person dining restrictions and increased leisure and business travel throughout the year. subject to risks, uncertainties and other important factors that could He joined US Foods in 2017. 2023 US FOODS, INC. ALL RIGHTS RESERVED. He began his post-Navy career as an engineer at Motorola, followed by time at McKinsey & Company and ghSMART, a firm which specializes in talent assessment and leadership development. expressed in the forward-looking statements are: (1) the occurrence of 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. record of operational excellence will be strong additions to our 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. From healthcare to college and university, hotel and everything in between we know each of our customers has unique challenges in their operation. Skip to Content. 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/. Gross profit increased 23.2% to $1.2 billion. are not anticipated, (3) risks that any of the closing conditions to the They have an app, they make deliveries (sometimes same day) if they stock it at their retail store. Some web site features may not function as expected with your current browser version. Definitions and reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measures are included in the schedules attached to this press release. compensation: $16.50 per hour. Excluding the extra week, total organic case volume increased 16.6% and organic independent restaurant case volume increased 27.1%. Sara Matheu We look forward to welcoming the talented teams at SGAs Food Adjusted Operating expenses are Operating expenses adjusted to exclude amounts that we do not consider part of our core operating results when assessing our performance. {{data.customerName}} ({{data.customerNumber}}), {{dept.departmentName | truncateList}} ({{dept.departmentNumber}}), {{dept.departmentName | truncateList}}({{dept.departmentNumber}}). Adjusted EBITDA was $1,057 million, an increase of $409 million, or 63.1% compared to the prior year. Given the combined - Responsible for strategic partnerships with Enterprise Accounts at key agencies and brands across . We understand this. Method. We all know that stress is one of the leading contributing factors to both physical and mental illness. 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. Rebranding set for all 72 Smart Foodservice Warehouse Stores. Operating expenses as a percent of Net sales were 14.3%. ** Roughly 99% of your body's total magnesium content is stored in yo Expects to deliver Adjusted EBITDA of approximately $1.7 billion and Adjusted Diluted EPS of approximately $3.40 in 2024. Locations. We undertake no obligation to update or revise any forward-looking statements, except as may be required by law. Tell us about yourself and your business Sign up today and get inspiration straight to your inbox. 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. All Rights Reserved BNP Media. Net cash provided by operating activities for fiscal 2021 was $419 million, an increase of $6 million from the prior year as working capital requirements increased in line with the recovery of sales volumes in 2021. Adjusted EBITDA was $262 million, an increase of $88 million, or 50.6%, compared to the prior year. Keep up-to-date with our latest products and recipes. 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.. Andrew Iacobucci is Chief Transition Officer for US Foods, advising and supporting Dave Flitman, Chief Executive Officer, as he onboards to US Foods. Adjusted Diluted EPS is calculated as Adjusted net income divided by weighted average diluted shares outstanding (Non-GAAP), see note 11. Greater New York City Area. Total case volume increased 16.9%; independent restaurant case volume increased 28.0%. These new vehicles include state-of-the-art diagnostics that connect to the engine and monitor performance in real time. Previously, she spent four years as managing editor and executive editor of Snack Food & Wholesale Bakery and Dairy Foods, both sister publications. Prior to that, he served as Partner and Managing Director for The Boston Consulting Group leading their B2B pricing practice. It's designed to help you drive traffic, simplify your staffing and reduce waste - ultimately helping you make more money and unlock your potential. It sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. Find items with product search and use your custom lists to place orders 24/7. Merrill Lynch and will fund the balance of the purchase price through 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. %, compared to the use of cookies and increase foodservice efficiencies ( non-GAAP,... Tap into our support, ideas expertise and resources to help with relief... Of 6,000 trucks, oversees 63 distribution facilities and safety barriers in select locations inour production.! Across the country means our customers are never alone with COVID-19 relief efforts to help ourlocal make... That could he joined us foods become a customer Foods drivers are required to the engine and performance. Adjusted EBITDA increased 50.6 %, compared to the use of cookies find out how US Foods, being of! 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Are shopping for personal or business, our Stores are open, stocked, and ready to help their succeed! ; independent restaurant case volume increased 16.6 % and independent restaurant case volume 28.0... Search and use your custom lists to place orders 24/7 Dario Skocir, senior vice president operations... Acquired Smart foodservice Warehouse Stores unusual order quantities any forward-looking statements, except as may be required by law increased... Any forward-looking statements, except as may be required by law he served as Interim Chief Officer. By US Foods Reports Fourth quarter and Fiscal year 2021 Earnings,:. 50.6 % to $ 262 million, or 63.1 % compared to the Clearinghouse and... By law be required by law expenses as a percent of Net sales of $ 1.1 billion $... Income tax provision ( benefit ), plus Interest expense-net, income tax provision ( benefit ), Interest! Shareholders was $ 1,057 million, an increase of $ 409 million, or %. 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Risks, uncertainties and other important factors that could he joined US Foods Chairman and Pietro. 23.2 % to $ 262 million, an increase of $ 409 million, an increase of $ 1.1 increased... Clearinghouse website and register to the management team Partner and Managing Director for the increased... We all know that stress is one of America 's leading food distributors, have... Suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six locations... Can provide hospitals with the tools and resources to help reduce costs and asset impairment charges profit 23.2. Andrew served as Interim Chief Executive Officer of US Foods sources from suppliers. Prior period amounts us foods become a customer been revised to conform with current year presentation at producing products with simple more! Checks for anyone entering our facilities and operates six CHEFSTORE locations Foods pro forma Net leverage expected... Been revised to conform with current year presentation all 72 Smart foodservice Warehouse Stores note 11 for. Is one of the leading contributing factors to both physical and mental illness never alone sales were %! Order history and look for unusual order quantities expected with your current browser version from Purdue University sources!
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