Expects to achieve Net Debt to Adjusted EBITDA leverage of 2.5x-3x in 2023. US Foods has built an e-commerce channel where three-quarters of our 250,000 customers order products online from our catalog of 350,000 products. Total case volume increased 6.3%; independent restaurant case volume increased 13.0%. Many restaurant operators dont know what a menu item costs them or know exactly how much of that item they sell, but with the e-commerce tool, were able to better help them manage their business, adds Carbonara. 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. These statements often include words such as believe, expect, project, anticipate, intend, plan, outlook, estimate, target, seek, will, may, would, should, could, forecast, mission, strive, more, goal, or similar expressions (although not all forward-looking statements may contain such words) and are based upon various assumptions and our experience in the industry, as well as historical trends, current conditions, and expected future developments. realize the benefits of the acquisition, (5) the effect of the But we believe its all about teaming up to find efficient solutions, tackling challenges head-on and nurturing a spirit of passion for the work. US Foods Inc. - Home. 2018 at 7:30am CDT to discuss the SGAs Food Group of Companies our current beliefs and expectations and are subject to significant value to our shareholders., Services Group of America Executive Vice President and COO Slade Stewart Buehler's Fresh Foods is an employee-owned chain of 13 grocery stores located in northeast Ohio. 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. We offer a wonderful product- quality food, using local partners and ingredients, at family-friendly prices, and excellent customer service. 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. Heat coconut oil in a large saucepan. US Foods released its 2019 Summer Scoop, which features delivery, take-out, grab-and-go and retail product solutions. 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. 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. The forward-looking statements contained in this press release speak only as of the date of this press release and are based on information and estimates available to us at this time. Consists primarily of severance and related costs, organizational realignment costs and asset impairment charges. its existing liquidity resources. For the same reasons, the Company is unable to address the significance of the unavailable information, which could be material to future results. 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. 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.. Tap into our support, ideas expertise and resources to help you with labor and food shortages and changing service demands. From quality assurance to innovative trends, weve got you covered. Adjusted Gross profit was $4.8 billion, a 27.0% increase from the prior year, primarily driven by an increase in total case volume, pricing optimization, product cost inflation and the addition of Smart Foodservice. Adjusted EBITDA was $1,057 million, an increase of $409 million, or 63.1% compared to the prior year. job title: Customer Service Generalist. Before his nearly 20-year tenure with Tech Data, Tonnison was the Vice President and Chief Technology Officer for Technology Solutions Network. Italian pizza has a unique taste and style that enthusiasts worldwide highly revere. They have many retail locations that sell to the public what they sell to industry. Our mission at Enterprise Foods is to source and supply quality local, commercially successful products for UK's national Retail, Foodservice and Wholesale customers. Our mission is to be an innovative, dependable, and versatile partner to foodservice businesses that provide quality product and leading services. The second quarter fiscal 2018 conference US Foods also optimized its routing to reduce miles driven, and rightsized vehicles by route type to improve transportation efficiency. Please click here to continue without javascript.. 2018 Foodservice Distributor of the Year: How Sysco delivers on food and service, 2019 Frozen Foods Processor of the Year: B&G Foods makes giant-sized footprint in frozen food category, 2019 Refrigerated Foods Processor of the Year: How Bonduelle Fresh Americas leads the pac to freshness. This nutrient acts as one of the body's main electrolytes, which are crucial for mineral balance and hydration. Our goal is to make getting what you need easy. It's technology at your service. Terms of Access: Privacy Policy https://www.businesswire.com/news/home/20180730005289/en/, US Foods:INVESTORS:Melissa 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. Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. 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. ROSEMONT, Ill.--(BUSINESS WIRE)-- 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}}). Pizza is one of the most beloved and popular foods in the world, and its origins can be traced back to ancient civilizations where flatbreads were baked with various toppings. Outlook for Fiscal Years 2022 and 2024 Year Following Closing. Adjusted Gross profit is Gross profit adjusted to remove the impact of the LIFO inventory reserve adjustments. US Foods also installed solar arrays on six of its distribution centers, including an 8.4-megawatt solar installation in Perth Amboy, N.J., what is said to be the largest solar array in the state. markets in the attractive and growing Northwest region of the U.S. and Registering to the FMCSA Clearinghouse is a requirement by the Department of Transportation. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); At Shamrock Foods, were dedicated to delivering more than just quality food. Adjusted Operating expenses as a percent of Net sales were 13.1%. Dave and his team optimize profitability across all segments by providing end-to-end oversight of margin and pricing decisions, partnering with Merchandising and Sales. The US Foods e-commerce site offers lists management to help customers keep all their orders organized and drive consistency.. The conference call can be accessed live over the phone by dialing Excellent local leadership. Become a Customer in 3 easy steps. 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. Cook over a low heat until softened and add a can of chopped tomatoes. Come drive for us. This acquisition will significantly increase US Foods reach across key But, what separates US Foods apart from other foodservice distributors . Thats no small task. To help our customers make it in this challenging time, were providing robust support, including webinars, one-on-one consults with our experts and detailed reopening materials. Consists primarily of costs related to significant process and systems redesign across multiple functions. set forth in the sections entitled Risk Factors and Forward-Looking {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information. Fast. 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. December 30, 2017, which was filed with the Securities and Exchange 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. 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. Net income available to common shareholders was $121 million, an increase of $375 million compared to the prior year. February 15, 2021. 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. We believe that Net Debt is a useful financial metric to assess our ability to pursue business opportunities and investments. adds one of the most well-regarded regional distributors to our 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. 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. the conference ID number to be connected. 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). 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. Visit www.usfoods.com employees. Order quickly. US Foods is a collection of talented professionals dedicated to making a difference in a high-preformance, diverse environment. In January 2014, he was named Chief Operating Officer and President, USA & Latin America at Univar. People gather around a table to break bread. restaurants and foodservice operators to help their businesses succeed. 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. A discussion of additional risks and uncertainties is By closing this message or continuing to use our site, you agree to the use of cookies. 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. Changes in operating assets and liabilities, net of business acquisitions: Decrease (increase) in prepaid expenses and other assets, Increase (decrease) in accounts payable and cash overdraft liability, Increase (decrease) in accrued expenses and other liabilities, Net cash provided by operating activities, Proceeds from sales of property and equipment, Principal payments on debt and financing leases, Net proceeds from issuance of Series A convertible preferred stock, Dividends paid on Series A convertible preferred stock, Proceeds from employee stock purchase plan, Tax withholding payments for net share-settled equity awards, Net cash (used in) provided by financing activities, Net (decrease) increase in cash and cash equivalents, Cash, cash equivalents and restricted cashbeginning of year, Cash, cash equivalents and restricted cashend of year. At US Foods, being one of the largest food service distributors in the country means our customers are never alone. We work diligently to reduce the energy intensity of our business, and have achieved more than a 10% improvement in our broadline business since 2015.. to please dial in 10 minutes prior to the call start time and provide Keep up-to-date with our latest products and recipes. "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 The extra week contributed approximately $8 million to Adjusted EBITDA in 2020. The call can also be accessed live over the phone by dialing (844) 292-0976; the conference ID number is 5561796. For optimal web site experience, please upgrade to a newer browser version. read. Guy Babbitt is Senior Vice President of Shared Business Services for US Foods. US Foods is guided by strong, decisive leaders dedicated to the core values of customer success, integrity, innovation and teamwork and who share a passion for all things food. Each US Foods customer has unique challenges. 1. Become a Shamrock Customer. 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. You can also count on us to deliver ideas, inspiration, partnership, expertise and a can-do attitude. Our Delivery Drivers make $$1,824.45 weekly! With a son, Josh, serving as a U.S. Army CAV Scout, Dave is passionate about serving members and veterans of the U.S. military forces and other charitable causes. Decide on what kind of signature to create. Add the rice and cook for 2/3 mins, then add the fresh chopped tomatoes. Some features may be unavailable during system maintenance on Thursday and Saturday evenings. Skip to Content. expects to reduce net leverage to approximately 3.0x by the end of 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 provide the resources, the technology, and the people to support your business at every step of the way. Andrew previously served as Chief Merchandising Officer. 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. Want help fulfilling rush orders? Operating expenses of $4.2 billion increased $435 million, or 11.5% from the prior year. With a 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. We also strive to use locally sourced and recycled content furnishings and building materials when we are building a new facility from the ground up. We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). 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. Organic financial results exclude contributions from Smart Foodservice through April 23, 2021. Given the combined Independent restaurant case volume increased 28.0%, while organic independent restaurant case volume increased 25.1%. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. closing conditions. Gross profit as a percentage of Net sales was 15.8%. This structure incentivizes businesses to . Track our trucks' location right up to your delivery and organize your invoices. US Foods is EBITDA and Adjusted EBITDA are also used in connection with certain covenants and restricted activities under the agreements governing our indebtedness. Keep up-to-date with our latest products and recipes. At US Foods, being one of the largest food service distributors in the country means our customers are never alone. Excluding the extra week, total case volume increased 18.8% and independent restaurant case volume increased 30.2%. Gross profit increased 25.2% to $4.7 billion. acquisition may not be satisfied in a timely manner, (4) failure to in annual revenue. 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. Our distribution centers require energy to store, refrigerate and manage our vast portfolio of products. Thats what you get when you work with Gordon. US Foods is one of Americas great food companies and a leading 2023 US FOODS, INC. ALL RIGHTS RESERVED. He joined Allegheny Power in February 2005, serving as Vice President Distribution and later as President of Allegheny Energy through July 2008. From finances to operations to driving traffic, we act as true partners that can support our operators through their entire journey, says Iacobucci. are Food Services of America, Systems Services of America, Amerifresh, Were looking for driven individuals who relish the chance to push their potential, grow and reap the rewards of joining the US Foods family. However, it was in Italy where pizza, as we know it today, was first developed. High-Touch. David Works is the Executive Vice President, Chief Human Resources Officer of US Foods. Learn morehere. High-Tech. Prior period amounts have been revised to conform with current year presentation. companys strong cash flow generation, including synergies, US Foods to learn more. Shamrock Foods is an EEO/AA Employer. 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. The link you followed may be broken, or the page may have been removed. Dave began his career at DuPont where he spent 20 years in various operational, commercial and global business leadership positions. 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. In doing so, US Foods generates 13 million-plus kilowatt hours (kWh) of electricity annually. Before joining US Foods in 2015, Dave served as Vice President for Uline. Before joining Meridian Health, David led the Human Resource organizations at Windstream and Sears Holdings. Operating expenses as a percent of Net sales were 14.3%. has been unanimously approved by US Foods Board of Directors. 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 . Net Debt at the end of fiscal year 2021 was $4.9 billion, a decrease of $57 million versus the end of fiscal 2020. . At US Foods, our solutions are tailored to fit your specific needs. Benefits medical, dental, vision, 401K, life insurance, strong safety culture, and much more! NYSE: USFD 38.22 -1.05 -2.67%. The City of Mississauga will be hosting the 2023 World Rowing Indoor Championships later this month. 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. US Foods can help senior living facilities balance resident satisfaction and food costs. We put a premium on order accuracy, timeliness and safety. journey and provides more success and growth opportunities for our Represents the non-cash impact of LIFO reserve adjustments. Effective as of the first quarter 2021, we have presented Adjusted net income. 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