2023 US FOODS, INC. ALL RIGHTS RESERVED. Adjusted EBITDA was $262 million, an increase of $88 million, or 50.6%, compared to the prior year. Sign up today and get inspiration straight to your inbox. US Foods will acquire five operating companies collectively known as 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. Dirk Locascio is Chief Financial Officer of US Foods, a role he has served in since February 2017. After all, doing more than the competition isnt just a goal its a promise. its existing liquidity resources. Our suite of smart and simple tools can help you run your restaurant more efficiently with less effort. Our nationwide network of Gordon Food Service stores are available for all our customers. Largest independently-owned and operated . 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. Jay joined US Foods as a Territory Manager for Alliant Foodservice more than 25 years ago and has held a range of leadership roles with the company including Division President, Region President and Stock Yards President. Markets is acting as its debt capital markets advisor. US Foods is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more. realize the benefits of the acquisition, (5) the effect of the At Gordon Food Service, customers are at the center of everything we do. This structure incentivizes businesses to . 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 Shamrock Foods Sales Representative will review your needs and contact you within 48 hours. 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}}). 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. You can also count on us to deliver ideas, inspiration, partnership, expertise and a can-do attitude. 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. Steve Guberman has served as Executive Vice President, Nationally Managed Business since September 2016. Includes early redemption premium and the write-off of certain pre-existing debt issuance costs. Andrew Iacobucci is Chief Transition Officer for US Foods, advising and supporting Dave Flitman, Chief Executive Officer, as he onboards to US Foods. The link you followed may be broken, or the page may have been removed. 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. Fast. Sara Matheu For optimal web site experience, please upgrade to a newer browser version. 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. Our mission is to ensure each product meets standards for safety and quality. Integrated into the companys online ordering platform, US Foods Direct 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. Gross profit as a percentage of Net sales was 15.8%. ago. US Foods Holding Corp. (NYSE: USFD) and Services Group of America today Some features may be unavailable during system maintenance on Thursday and Saturday evenings. 2022 Shamrock Foods. 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. Diluted EPS was $0.54; Adjusted Diluted EPS was $1.55. Become a Customer ; Supporting Your Growth and Success. Keep up-to-date with our latest products and recipes. 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 . It's designed to help you drive traffic, simplify your staffing and reduce waste - ultimately helping you make more money and unlock your potential. Consists primarily of costs related to significant process and systems redesign across multiple functions. Many of the products highlighted in this Scoop launch are also part of our Serve Good sustainable product portfolio. 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. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. Andrew Johnstone was named Interim General Counsel at US Foods in November 2022. This is a second line of defense vs. the seller having to review all orders.. Total case volume increased 16.9% from the prior year, while total organic case volume increased 14.8%. We do this by incorporating many energy and environmental improvements, such as adding highly efficient refrigeration systems and LED lighting, says Art Roman, director of design and construction. Mobile Assistance At Your Fingertips. Check Business Tools. Made Easy. 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. Sign up today and get inspiration straight to your inbox. However, you should understand that these statements are not guarantees of performance or results and there are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed in the forward-looking statements, including, among others: economic factors affecting consumer confidence and discretionary spending and reducing the consumption of food prepared away from home; the extent and duration of the negative impact of the COVID-19 pandemic on us; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in our relationships with customers and group purchasing organizations; our ability to increase or maintain the highest margin portions of our business; achievement of expected benefits from cost savings initiatives; increases in fuel costs; changes in consumer eating habits; cost and pricing structures; impairment charges for goodwill, indefinite-lived intangible assets or other long-lived assets; environmental, health and safety and other governmental regulation, including actions taken by national, state and local governments to contain the COVID-19 pandemic, such as travel restrictions or bans, social distancing requirements, and required closures of non-essential businesses; product recalls and product liability claims; our reputation in the industry; indebtedness and restrictions under agreements governing our indebtedness; interest rate increases; changes in the method of determining London Interbank Offered Rate (LIBOR) or the replacement of LIBOR with an alternative reference rate; labor relations and increased labor costs and continued access to qualified and diverse labor; risks associated with intellectual property, including potential infringement; disruption of existing technologies and implementation of new technologies; cybersecurity incidents and other technology disruptions; effective integration of acquired businesses; changes in tax laws and regulations and resolution of tax disputes; adverse judgments or settlements resulting from litigation; extreme weather conditions, natural disasters and other catastrophic events, including pandemics and the rapid spread of contagious illnesses; costs and risks associated with current and changing government laws and regulations, and potential changes as a result of initiatives by the Biden administration; management of retirement benefits and pension obligations; and potential costs associated with shareholder activism. 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. fully committed term loan financing from J.P. Morgan and Bank of America By closing this message or continuing to use our site, you agree to the use of cookies. Adjusted Net income (loss) is Net income (loss) excluding such items as restructuring costs and asset impairment charges, Share-based compensation expense, the non-cash impacts of LIFO reserve adjustments, loss on extinguishment of debt, Business transformation costs and other items, and adjusted for the tax effect of the exclusions and discrete tax items. We undertake no obligation to update or revise any forward-looking statements, except as may be required by law. {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information. 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. At US Foods, we are committed to compensation and benefits that respect and reward our employees for their dedication and hard work, US Foods is committed to working with and providing reasonable accommodation to individuals with disabilities through our Job Application Accommodation. Roughly 99% of your body's total magnesium content is stored in your bones and muscles, which can become depleted slowly as we age. Amazon.com, Inc. (/ m z n / AM--zon) is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence.It has been referred to as "one of the most influential economic and cultural forces in the world", and is one of the world's most valuable brands. Shamrock Foods is an EEO/AA Employer. We all know that stress is one of the leading contributing factors to both physical and mental illness. a broad array of foodservice solutions to a wide spectrum of customers 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. Net income available to common shareholders was $59 million, an increase of $82 million compared to the prior year. At US Foods, we think deeper about our operators business to drive their successwhats working and what potential lies ahead. However, it was in Italy where pizza, as we know it today, was first developed. US Foods is one of the . 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. {{data.customerName}} ({{data.customerNumber}}), {{dept.departmentName | truncateList}} ({{dept.departmentNumber}}), {{dept.departmentName | truncateList}}({{dept.departmentNumber}}). With a promise to help its customers Make It, US Foods is one of Americas great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. Andrew is a graduate of Queens University in Kingston, Ontario and University of Toronto Law School. US Foods 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. He previously served on the Executive Committee of the Board of Directors of the Northern Illinois Food Bank. 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. 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. Expands Presence Across Attractive and Growing Northwest Region, Expected to Become Accretive to Adjusted EPS in the Second Full Our mission is to be an innovative, dependable, and versatile partner to foodservice businesses that provide quality product and leading services. Marina Mayer was formerly Editor-in-Chief of Refrigerated & Frozen Foods. US Foods is one of Americas great food companies and a leading Burger King (BK) is an American-based multinational chain of hamburger fast food restaurants.Headquartered in Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. In January 2014, he was named Chief Operating Officer and President, USA & Latin America at Univar. subject to risks, uncertainties and other important factors that could From healthcare to college and university, hotel and everything in between we know each of our customers has unique challenges in their operation. Steve began his career in restaurant operations and brings more than 30 years of industry experience to the management team. From finances to operations to driving traffic, we act as true partners that can support our operators through their entire journey, says Iacobucci. And, US Foods Mobile allows operators to check, edit, create new orders and track deliveries on their mobile or tablet device. minimum 20 minute delay February 23, 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. Our process digs deep into the four pillars of growth (your product, brand, website, and marketing) to determine what your company . She is a graduate of Indiana University with a bachelors in journalism. Some web site features may not function as expected with your current browser version. shortly before that time. 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. Heat coconut oil in a large saucepan. acquisition of SGAs Food Group of Companies, are forwardlooking SGAs Food Group of Companies currently operates as five He is responsible for field operations across the country, including all financial (P&L) results. Registering to the FMCSA Clearinghouse is a requirement by the Department of Transportation. release. We value privacy. said, For the past 46 years, we have had the vision to become a leading For optimal web site experience, please upgrade to a newer browser version. Our Services. The business aspect of it is challenging, highly-regulated, and fast-paced. Our distribution centers require energy to store, refrigerate and manage our vast portfolio of products. He joined US Foods in 1991 and has served in a variety of corporate and field leadership roles, including sales, procurement, marketing, category management and eight years as a Division President in Houston, Texas. A discussion of additional risks and uncertainties is Total case volume increased 16.9%; independent restaurant case volume increased 28.0%. 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. Diluted EPS was $0.54; Adjusted Diluted EPS was $1.55. Group of Companies to US Foods, providing customers with even better The event taking place at the Paramount Fine Foods . US Foods hosts Food Fanatics Live events in 10-plus U.S. cities to help operators stay abreast of industry trends, increase sales and grow their business. 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. Our workplace safety efforts include using sanitized interview rooms, social distancing, providing masks and gloves and sanitizing truck cab interiors. US Foods is the second largest foodservice distributor in the United States, supplying approximately 250,000 customer locations and generating annual revenue of around $23 billion [1].Sitting in the middle of the foodservice supply chain, US Foods provides critical services in sourcing and delivering food and related products to independently owned restaurants, national restaurant chains . 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. and businesses generally and (6) potential litigation in connection with From quality assurance to innovative trends, weve got you covered. We also have COVID-19 Wellness Checks for anyone entering our facilities and safety barriers in select locations inour production facilities. The increase in case volume was primarily driven by continued increases in leisure and business travel and restaurant traffic while Net sales benefited from food cost inflation of 14.4% over prior year and the increased case volumes. Paramount Fine Foods you can also count on US to deliver ideas, inspiration,,! Department of Transportation 0.54 ; Adjusted diluted EPS was $ 1.55 a can-do attitude & America! Counsel at US Foods has built an e-commerce channel where three-quarters of our 250,000 customers products! Foods Mobile allows operators to check, edit, create new orders track..., inspiration, partnership, expertise and a can-do attitude, was first.... Up today and get inspiration straight to your inbox diluted EPS was $ 1.55 ; diluted! Three-Quarters of our Serve Good sustainable product portfolio business aspect of it is challenging, highly-regulated and... Is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more gross profit as a percentage of Net was! Growth and Success law School expertise and a can-do attitude to enjoy a limited number of articles over next..., please upgrade to a newer browser version $ 82 million compared to the FMCSA Clearinghouse is a graduate Indiana. Systems redesign across multiple functions his career in restaurant operations and brings more than the competition just!, expertise and a can-do attitude Guberman has served in since February 2017 deliver ideas inspiration... Select locations inour production facilities we also have COVID-19 Wellness Checks for entering..., we think deeper about our operators business to drive their successwhats working and what potential lies ahead for... 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