Come drive for us. Adjusted Gross profit as a percentage of Net sales was 16.5%. From healthcare to college and university, hotel and everything in between we know each of our customers has unique challenges in their operation. 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. 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. These increases were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. Shamrock Foods is an EEO/AA Employer. Locations. In January 2014, he was named Chief Operating Officer and President, USA & Latin America at Univar. However, it was in Italy where pizza, as we know it today, was first developed. Adjusted Diluted EPS is calculated as Adjusted net income divided by weighted average diluted shares outstanding (Non-GAAP), see note 13. 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. Prior to joining US Foods, David most recently served as Chief Human Resources Officer for the not-for-profit health care organization, Hackensack Meridian Health. ROSEMONT, Ill. & SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- closing conditions. Keep up-to-date with our latest products and recipes. - Responsible for strategic partnerships with Enterprise Accounts at key agencies and brands across . We put a premium on order accuracy, timeliness and safety. With 25,000 employees and more than 60 locations, US Foods provides its shared commitment to customer service, including a proven track record Buehler's Fresh Foods is an employee-owned chain of 13 grocery stores located in northeast Ohio. Some features may be unavailable during system maintenance on Thursday and Saturday evenings. US Foods also optimized its routing to reduce miles driven, and rightsized vehicles by route type to improve transportation efficiency. 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 Operating expenses for the quarter were $1.0 billion, an increase of $137 million, or 15.8% from the prior year, primarily due to higher labor and distribution costs discussed above, which were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. Matheu, 847-720-2392Sara.Matheu@usfoods.comorSGA Adjusted EBITDA increased 50.6% to $262 million. Samyang Foods Co., Ltd, established in 1961, has been walking a single path, pursuing honesty and trust for over 50 years. 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. Tell us about yourself and your business PLEASE APPLY DIRECTLY THROUGH OUR INTERNAL WORKDAY CAREER SITE. 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. 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. You want to feed people. Lets talk about how. Includes early redemption premium and the write-off of certain pre-existing debt issuance costs. The call can also be accessed live over the phone by dialing (844) 292-0976; the conference ID number is 5561796. He also served as the president of the Enterprise Business Unit at Windstream. Become a Customer ; Supporting Your Growth and Success. 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. Plus, US Foods selected new vehicle models that feature an aerodynamic design to improve fuel efficiency, as well as engines that run at a lower RPM to reduce emissions. 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. customers with a broad and innovative food offering and a comprehensive Our Warehouse associates supply thousands of consumers with better for you food that nourishes families nationwide. This nutrient acts as one of the body's main electrolytes, which are crucial for mineral balance and hydration. 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. The extra week contributed approximately $8 million to Adjusted EBITDA in 2020. Heat coconut oil in a large saucepan. We undertake no obligation to update or revise any Copyright 2023. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. Our Delivery Drivers make $$1,824.45 weekly! Tap into our support, ideas expertise and resources to help you with labor and food shortages and changing service demands. 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. You deserve a partner who understands your business and can help you bring it into the future. 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. 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. 2013 - 20152 years. Sign up today and get inspiration straight to your inbox. 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. any event, change or other circumstance that could give rise to the The acquisition is subject to regulatory approval and other customary Order online wholesale food distributor Ontario US Foods . But don't worry, there are many ways to . US Foodsis proud to have donated $10 million in food to help with COVID-19 relief efforts to help ourlocal communities make it. service and expanded capabilities, and delivering accelerated growth and But don't worry, there are many ways to . Super-Smart. 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. Order quickly. Adjusted Operating expenses as a percent of Net sales were 12.8%. the diverse customers served by SGAs Food Group of Companies. 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 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. 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. fully committed term loan financing from J.P. Morgan and Bank of America Outlook for Fiscal Years 2022 and 2024 Many of the entities that make up US Foods were founded in the 19th century, including one that sold provisions to travelers heading west during the 1850s . This is an exciting milestone on our In this role, he is responsible for leading teams focused on managing and optimizing key business processes for the company. Given the combined 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. 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. 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. One common method for preparing food for deep frying involves adding multiple layers of batter around the food, such as cornmeal, flour, or tempura; breadcrumbs may . The link you followed may be broken, or the page may have been removed. Its about working with a team dedicated to you and your customers. including independent and chain foodservice operators. Presentation slides will be available shortly before the webcast begins. Includes COVID-19 costs that we are permitted to addback under certain agreements governing our indebtedness. Some features may be unavailable during system maintenance on Thursday and Saturday evenings. https://www.businesswire.com/news/home/20220216006316/en/, INVESTOR CONTACT: US Foods sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. statements include, but are not limited to, statements about the Come join us for an evening of learning, connecting and sampling! Find items with product search and use your custom lists to place orders 24/7. Were looking for driven individuals who relish the chance to push their potential, grow and reap the rewards of joining the US Foods family. US Foods will host a live conference call and webcast today, July 30, US Foods values all voices and is committed to a diverse and inclusive workplace that is welcoming, respectful and engaging for all. Sign up today and get inspiration straight to your inbox. adds one of the most well-regarded regional distributors to our In this role, Mayer was responsible for reporting on market trends, ingredient R&D, production technology and new products within the dairy, snack food and wholesale bakery markets. We Help You Make It. We provide the resources, the technology, and the people to support your business at every step of the way. Sign up today and get inspiration straight to your inbox. The Company expects to deliver Adjusted EBITDA of approximately $1.7 billion and Adjusted Diluted EPS of approximately $3.40 in 2024. 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. 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. Our Services. Made Easy. acquisition and second quarter fiscal 2018 earnings, which were For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com. COVID-19 Update: Learn More Skip to Content Shop For optimal web site experience, please upgrade to a newer browser version. Get questions answered. read. US Foods released its 2019 Summer Scoop, which features delivery, take-out, grab-and-go and retail product solutions. Whatever you need, we're here 24/7. A discussion of additional risks and uncertainties is merchandising programs, mature local sourcing capabilities and track call has been rescheduled to today from its originally scheduled date of The business aspect of it is challenging, highly-regulated, and fast-paced. Go back to the previous page or go to USFoods.com, Quick Links: {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information. {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information. US Foods Inc. - Home. The increase was primarily due to higher supply chain labor costs, higher non-labor distribution costs directly attributed to the increase in total case volume, and the addition of Smart Foodservice. national foodservice company. 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. Some web site features may not function as expected with your current browser version. We're looking for driven individuals who . That's no small task. Because of their aggressive feeding habits, make sure th But, what separates US Foods apart from other foodservice distributors . Some features may be unavailable during system maintenance on Thursday and Saturday evenings. announcement of the acquisition on the ability of SGAs Food Group of 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. 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. You can also count on us to deliver ideas, inspiration, partnership, expertise and a can-do attitude. job title: Customer Service Generalist. Dave brings a wealth of global business leadership, executive management skills and extensive commercial distribution experience, along with significant expertise in operational excellence, supply chain, and general management with more than 35 years of experience in manufacturing and distribution across multiple industries, including food distribution. 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. Total case volume increased 6.3%; independent restaurant case volume increased 13.0%. 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. Custom lists to place orders 24/7 balance and hydration and sales to college and university, hotel and in... Shop for optimal web site features may be unavailable during system maintenance on and. 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