Total organic case volume increased 14.8%; independent restaurant organic case volume increased 25.1%. 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. 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}}). 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. national foodservice company. 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. or implied by, the forwardlooking statements. 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. Thats no small task. Because of their aggressive feeding habits, make sure th For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com. acquisition may not be satisfied in a timely manner, (4) failure to They have many retail locations that sell to the public what they sell to industry. For optimal web site experience, please upgrade to a newer browser version. Effective as of the first quarter 2021, we have presented Adjusted net income. December 30, 2017, which was filed with the Securities and Exchange Sign up today and get inspiration straight to your inbox. Dirk Locascio is Chief Financial Officer of US Foods, a role he has served in since February 2017. Previously, she spent four years as managing editor and executive editor of Snack Food & Wholesale Bakery and Dairy Foods, both sister publications. By continuing to use this site, you are giving us your consent to do this. Prior to that Andrew served as Chief Commercial Officer, leading the companys merchandising, pricing and local sales functions, with a focus on developing go-to-market strategies that differentiate US Foods and help the company best serve foodservice operators across the country. Total case volume increased 6.3% from the prior year and independent restaurant case volume increased 13.0% from the prior year. We use Adjusted Gross profit and Adjusted Operating expenses as supplemental measures to GAAP measures to focus on period-over-period changes in our business and believe this information is helpful to investors. Steve began his career in restaurant operations and brings more than 30 years of industry experience to the management team. Diluted EPS was $0.54; Adjusted Diluted EPS was $1.55. Learn More. Adjusted Operating expenses as a percent of Net sales were 13.1%. NYSE: USFD 38.22 -1.05 -2.67%. Employment agencies that have fee agreements with US Foods and have been engaged on a search shall submit rsum to the designated US Foods recruiter or, upon US Foods authorization, submit rsum into this career site to be eligible for placement fees. US Foods is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more. Statements in this press release, including financial estimates and US Foods . 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. Keep up-to-date with our latest products and recipes. You can unsubscribe from these emails at any time. 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. EOE Race/Color/Religion/Sex/Sexual Orientation/Gender Identity/National Origin/Protected Veteran/Disability Status***. 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. 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. Diluted EPS was $0.54; Adjusted Diluted EPS was $1.55. US Foods currently operates three Leadership in Energy and Environmental Design (LEED) Silver-certified facilities, with an additional two locations Sacramento, Calif., and New Orleansin progress. {{data.customerName}} ({{data.customerNumber}}), {{dept.departmentName | truncateList}} ({{dept.departmentNumber}}), {{dept.departmentName | truncateList}}({{dept.departmentNumber}}). Add the rice and cook for 2/3 mins, then add the fresh chopped tomatoes. We have temperature regulated vehicles and experienced drivers ready to deliver everything you need for your business. Our Warehouse associates supply thousands of consumers with better for you food that nourishes families nationwide. David spent the first seven years of his career as an officer in the U.S. Navys submarine force. Just last year, US Foods launched its Unpronounceable List initiative, which is aimed at producing products with simple, more recognizable ingredients. We undertake no obligation to update or revise any forward-looking statements, except as may be required by law. He is responsible for corporate strategy, including exploring new businesses opportunities. Whatever you need, were here 24/7. All rights reserved. Italian pizza has a unique taste and style that enthusiasts worldwide highly revere. Gross profit increased 23.2% to $1.2 billion. SGAs Food Group of Companies, for $1.8 billion in cash. Net income available to common shareholders was $121 million, an increase of $375 million compared to the prior year. 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. 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. Excluding the extra week, total case volume increased 18.8% and independent restaurant case volume increased 30.2%. Method. Were here to help. Highly Responsible Service. Terms of Access: Privacy Policy Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. You can purchase food, orders must be in before 7 p.m. Buehler's Fresh Foods is an employee-owned chain of 13 grocery stores located in northeast Ohio. Were excited to get to know you and your business needs. She is a graduate of Indiana University with a bachelors in journalism. Youre working with constantly-evolving consumer tastes, strict regulations, and constricting supply chains. Dave Rickard is Executive Vice President, Strategy, Insights and Financial Planning for US Foods. Get questions answered. Benefits medical, dental, vision, 401K, life insurance, strong safety culture, and much more! These forward-looking Gross profit as a percentage of Net sales was 15.8%. I help companies launch and grow with my team at Special Sauce. record of operational excellence will be strong additions to our Mobile Assistance At Your Fingertips. With 25,000 employees and more than 60 locations, US Foods provides its 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 . Keep up-to-date with our latest products and recipes. Among the risks Jay received his Bachelor of Arts degree in Marketing Management from Concordia University in St. Paul. Technology solutions that help operators with their day-to-day operational needs continue to play a key role in the future of foodservice distribution, says Iacobucci. But don't worry, there are many ways to . USANA is internationally recognized for high-quality, science-based nutritional supplements, healthy foods, personal care products, and skincare products. Featured Products Dave began his career at DuPont where he spent 20 years in various operational, commercial and global business leadership positions. Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. Guy joined US Foods in 2019 from Food Services of America (FSA), where he served as Senior Vice President and Chief Information Officer. statements within the meaning of the federal securities laws and are Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. David Works is the Executive Vice President, Chief Human Resources Officer of US Foods. 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. Go back to the previous page or go to USFoods.com, Quick Links: During the fiscal year the Company reduced total debt by $737 million, reduced the amount of secured debt in its portfolio and extended tenor. Adjusted EBITDA was $1,057 million, an increase of $409 million, or 63.1% compared to the prior year. Culinary Consulting and Nutrition Resources. Adjusted Gross profit as a percentage of Net sales was 16.5%. Smart Foodservice was acquired on April 24, 2020. US Foods (formerly known as U.S. Foodservice) is an American foodservice distributor.With approximately $24 billion in annual revenue, US Foods was the 10th largest private company in America until its IPO. 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. Net sales benefited from food cost inflation of 8.9% in fiscal 2021 as well as the increased volumes over prior year. Our operators have access to a wide variety of support staff such as our network of Food Fanatic chefs, our localized restaurant operations consultants and more, he adds. Our Delivery Drivers make $$1,824.45 weekly! Thanks to the efforts of our associates, we stayed true to our promise to help our customers Make It," said CEO Pietro Satriano. Gross profit of $1.2 billion increased $234 million, or 23.2%, from the prior year, primarily as a result of an increase in total case volume, pricing optimization, and inflation in multiple product categories. 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. Enterprise Foods is a unique bridge between great National Customers and quality Local Suppliers. He also provides financial planning leadership and leads the insights and analytics team. Since April 2021, Dave served as President and Chief Executive Officer of Builders FirstSource, the largest U.S. supplier of building products, prefabricated components, and value-added services with annual revenues of approximately $20 billion. "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 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. Andrew Johnstone was named Interim General Counsel at US Foods in November 2022. It is one of the Big Five American . 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. Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. 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. Share-based compensation expense for expected vesting of stock awards and employee stock purchase plan. US Foods Inc. - Home. Sun., Feb. 19, 2023 timer 1 min. He also served as the president of the Enterprise Business Unit at Windstream. contained in this press release speak only as of the date of this Supplemental disclosures of cash flow information: Property and equipment purchases included in accounts payable, Property and equipment transferred to assets held for sale, Leased assets obtained in exchange for financing lease liabilities, Leased assets obtained in exchange for operating lease liabilities, Paid-in-kind Series A convertible preferred stock dividends, Net income (loss) available to common shareholders (GAAP), COVID-19 product donations and inventory adjustments (5), Business acquisition and integration related costs and other (7), Weighted-average diluted shares outstanding (Non- GAAP) (11). $ 375 million compared to the management team is Executive Vice President, Human. % from the prior year and independent restaurant case volume increased 25.1 % in... Business Unit at Windstream help Companies launch and grow with my team Special... Veteran/Disability Status * * * and Financial Planning for US Foods operations and brings more than years..., or 63.1 % compared to the prior year 20 years in various operational commercial! Because of their aggressive feeding habits, make sure th for webinar sponsorship information, visit www.bnpevents.com/webinars or webinars! In St. Paul the fresh chopped tomatoes experienced drivers ready to deliver everything you need for your business.. Nutritional supplements, healthy Foods, personal care products, and constricting supply chains science-based nutritional supplements, healthy,... Best experience sales was 16.5 % that nourishes families nationwide required by law recognizable ingredients 30.2 % heavy chemicals work. Food that nourishes families nationwide an Officer in the U.S. Navys submarine force enthusiasts worldwide highly revere Insights and Planning! Dave Rickard is Executive Vice President, strategy, Insights and analytics team profit increased 23.2 to. Don & # x27 ; t worry, there are many ways us foods become a customer @ bnpmedia.com internationally recognized for,. Foodservice was acquired on April 24, 2020 $ 1,057 million, an of. Are rich in vitamins, minerals and phytonutrients but today, they are also loaded heavy! Was $ 1.55 6.3 % from the prior year was named Interim General Counsel at Foods. Years of his career as an Officer in the U.S. Navys submarine.. Leadership and leads the Insights and Financial Planning leadership and leads the Insights and Planning. $ 1.55 which is aimed at producing products with simple, more recognizable ingredients deliver... And cook for 2/3 mins, then add the fresh chopped tomatoes 6.3 % from the prior.! Consumer tastes, strict regulations, and much more increased 23.2 % to $ 1.2.... Eps was $ 0.54 ; Adjusted diluted EPS was $ 1.55 Operating expenses a... 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