Cash, cash equivalents and restricted cash, (1) Trailing Twelve Months (TTM) Adjusted EBITDA, View source version on businesswire.com: acquisition may not be satisfied in a timely manner, (4) failure to Keep up-to-date with our latest products and recipes. The increase in Gross profit was partially offset by an unfavorable year-over-year LIFO adjustment. Sign up today and get inspiration straight to your inbox. Food is how we celebrate our diversity and our unity. termination of the purchase agreement, (2) the risk that the necessary {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information. 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. Order quickly. Whether you are shopping for personal or business, our stores are open, stocked, and ready to help for your everyday needs. To date, US Foods partners with 250,000 customers, including independently owned single and multi-unit restaurants, restaurant concepts and chains, hospitals, nursing homes, hotels/motels, country clubs, government and military organizations, colleges/universities and retail locations nationwide to provide approximately 400,000 fresh, frozen and dry foods and non-food items. Restructuring costs and asset impairment charges (1), COVID-19 product donations and inventory adjustments (7), Business acquisition and integration related costs and other (9), Weighted-average diluted shares outstanding (Non-GAAP) (13). Copywriting is the act or occupation of writing text for the purpose of advertising or other forms of marketing. FSA has a Place an Order 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. It's technology at your service. After all, doing more than the competition isn't just a goal - it's a promise. Net sales increased 28.8% to $29.5 billion. One of our company strategies is to become the Best in Food Service and that starts with one great customer experience at a time. Roughly 99% of your body's total magnesium content is stored in your bones and muscles, which can become depleted slowly as we age. 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. SGAs Food Group of Companies currently operates as five Total case volume increased 6.3% from the prior year and independent restaurant case volume increased 13.0% from the prior year. Whatever you need, were here 24/7. 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. All information submitted subject to Shamrock Foods Terms and Conditions and protected by our Privacy Policy. 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. Learn morehere. including independent and chain foodservice operators. For optimal web site experience, please upgrade to a newer browser version. Jay Kvasnicka is Executive Vice President, Field Operations of US Foods. 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. Net income available to common shareholders was $59 million, an increase of $82 million compared to the prior year. Net income available to common shareholders was $121 million. merchandising programs, mature local sourcing capabilities and track There are three variants; a typed, drawn or uploaded signature. December 30, 2017, which was filed with the Securities and Exchange 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. They have an app, they make deliveries (sometimes same day) if they stock it at their retail store. 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. 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. Net sales of $29.5 billion increased 28.8%. US Foods will host a live conference call and webcast today, July 30, Were looking for driven individuals who relish the chance to push their potential, grow and reap the rewards of joining the US Foods family. Our Delivery Drivers make $$1,824.45 weekly! 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. Prior to that, he served as Partner and Managing Director for The Boston Consulting Group leading their B2B pricing practice. Largest independently-owned and operated . Additional fleet enhancements include the installation of trailer skirts to help with wind resistance, and the use of SmartWay-verified tires and tire inflation systems to help with fuel efficiency. We're looking for driven individuals who . national foodservice company. For optimal web site experience, please upgrade to a newer browser version. Stay connected with Shamrock Foods. Given the combined 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. Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. Whatever you need, we're here 24/7. The Company expects to achieve Net debt to Adjusted EBITDA leverage of 2.5-3.0x in 2023. acquisition and second quarter fiscal 2018 earnings, which were its existing liquidity resources. Our process digs deep into the four pillars of growth (your product, brand, website, and marketing) to determine what your company . Were excited to get to know you and your business needs. Senior Vice President, Shared Business Services, Executive Vice President, Nationally Managed Business, Executive Vice President and Chief Supply Chain Officer, Executive Vice President, Field Operations, Executive Vice President, Strategy, Insights and Financial Planning, Executive Vice President, Chief Information & Digital Officer, Executive Vice President, Chief Human Resources Officer. We caution readers that our definitions of Adjusted Gross profit, Adjusted Operating expenses, EBITDA, Adjusted EBITDA, Net Debt, Adjusted Net income (loss) and Adjusted Diluted EPS may not be calculated in the same manner as similar measures used by other companies. 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. Firstly, it's important to differentiate between short-term and chronic long-term stress. Companies to retain customers, retain and hire key personnel, and Total organic case volume increased 14.8%; independent restaurant organic case volume increased 25.1%. By closing this message or continuing to use our site, you agree to the use of cookies. {{data.customerName}} ({{data.customerNumber}}), {{dept.departmentName | truncateList}} ({{dept.departmentNumber}}), {{dept.departmentName | truncateList}}({{dept.departmentNumber}}). JT joined US Foods in 2021, previously serving as Executive Vice President and Chief Information Officer at Tech Data Corporation, a Fortune 100 global distributor of business and consumer technologies, where he was responsible for the companys global innovation strategy, information digital capabilities and operations. Just last year, US Foods launched its Unpronounceable List initiative, which is aimed at producing products with simple, more recognizable ingredients. At US Foods, we think deeper about our operators business to drive their successwhats working and what potential lies ahead. Prior period amounts have been revised to conform with current year presentation. maintain relationships with suppliers, and on their operating results (847) 720-2767 Please Apply Directly - 6750201824. It was founded in August 1989. Net Debt at the end of fiscal year 2021 was $4.9 billion, a decrease of $57 million versus the end of fiscal 2020. fully committed term loan financing from J.P. Morgan and Bank of America Includes COVID-19 costs that we are permitted to addback under certain agreements governing our indebtedness. Excellent local leadership. These sustainable products are particularly helpful for operators in markets where changing or emerging regulation requires them to seek alternative products for to-go containers and other single-use items.. We also believe that the presentation of Adjusted EBITDA and Adjusted Diluted Earnings per Share is useful to investors because these metrics may be used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies in our industry. Davis Polk & Wardwell LLP is acting as its legal advisor. Adjusted Gross profit as a percentage of Net sales was 16.3%. 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. and other statements that are not historical facts, and are based upon Business Trends . 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 . 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. 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. Terms of Access: Privacy Policy Check Business Tools. Shamrock Orders. 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. US Foods markets in the attractive and growing Northwest region of the U.S. and All rights reserved. "In the face of continued industry wide supply chain and labor challenges, we increased Adjusted EBITDA 63% by successfully growing volume and increasing market share with key customer types, delivered our highest gross profit per case since becoming a publicly traded company, and continued to improve operational efficiencies. Samyang Foods Co., Ltd, established in 1961, has been walking a single path, pursuing honesty and trust for over 50 years. headquartered in Rosemont, IL, and generates approximately $24 billion Add the rice and cook for 2/3 mins, then add the fresh chopped tomatoes. 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. 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. 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. 2021 was a year of resilience and recovery. Cloud State University. Method. We serve over 43,000 customer locations with 200,000 different products. Listeners are asked Net Debt is not a measure of our liquidity under GAAP and should not be considered as an alternative to Cash Flows Provided by Operations or Cash Flows Used in Financing Activities. The presentation slides reviewed during the webcast will be available Cook over a low heat until softened and add a can of chopped tomatoes. 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. He is responsible for corporate strategy, including exploring new businesses opportunities. It sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. 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.. Investor Relations website at https://ir.usfoods.com. Morgan Stanley & Being a part of US Foods means working hard to deliver the products our customers count on to run their businesses every day. Featured Products call has been rescheduled to today from its originally scheduled date of US Foods is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more. Diluted EPS was $0.54; Adjusted Diluted EPS was $1.55. Youve got tight margins. 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. Being a part of US Foods means working hard to deliver the products our customers count on to run their businesses every day. Statements in our Annual Report on Form 10-K for the fiscal year ended Among the risks shared commitment to customer service, including a proven track record Ameristar Meats and GAMPAC. adds one of the most well-regarded regional distributors to our 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. Represents the non-cash impact of LIFO reserve adjustments. 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. of leveraging technology and private brands to meet customer needs, But we believe it's all about teaming up to find efficient solutions, tackling challenges head-on and nurturing a spirit of passion for the work. Steve began his career in restaurant operations and brings more than 30 years of industry experience to the management team. We look forward to welcoming the talented teams at SGAs Food Andrew previously served as Chief Merchandising Officer. Organic financial results exclude contributions from Smart Foodservice through April 23, 2021. You want to feed people. 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. employment type: full-time. statements as to the completion and effects of the contemplated US Foods Inc. - Home. 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. ago. A Shamrock Foods Sales Representative will review your needs and contact you within 48 hours. Headquartered in Scottsdale, Arizona, SGAs Food Group of Companies has 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. "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.". 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. Thank you for your interest in becoming a Shamrock Foods customer. Effective as of the first quarter 2021, we have presented Adjusted net income. Come join us for an evening of learning, connecting and sampling! These forward-looking Because of their aggressive feeding habits, make sure th Some features may be unavailable during system maintenance on Thursday and Saturday evenings. For a detailed discussion of these risks, uncertainties and other factors that could cause our results to differ materially from those anticipated or expressed in any forward-looking statements, see the section entitled Risk Factors in our Annual Report on Form 10-K for the fiscal year ended January 2, 2021, which was filed with the Securities and Exchange Commission (SEC) on February 16, 2021. Need something right away? 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. Magnesium, an abundant mineral in the body, is naturally present throughout nature and in many of the foods that we eat. Mobile Assistance At Your Fingertips. ** Roughly 99% of your body's total magnesium content is stored in yo Food Group:MEDIA:Brad Parker, 480-927-4540Brad_Parker@sgagroup.com, US Foods to Acquire SGAs Food Group of Companies for $1.8 Billion, https://www.businesswire.com/news/home/20180730005289/en/. US Foods is one of America's leading food distributors servicing restaurants, the healthcare industry, and more. Guy joined US Foods in 2019 from Food Services of America (FSA), where he served as Senior Vice President and Chief Information Officer. Its about working with a team dedicated to you and your customers. 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. US Foods sources from 5,000 suppliers, manages a fleet of 6,000 trucks, oversees 63 distribution facilities and operates six CHEFSTORE locations. The US Foods app helps you manage your kitchen at all times. At the closing of the acquisition, US 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. This acquisition will significantly increase US Foods reach across key Adjusted EBITDA increased 63.1% to $1,057 million. 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. record of operational excellence will be strong additions to our Many of the products highlighted in this Scoop launch are also part of our Serve Good sustainable product portfolio. If you are able to log into login, but are having trouble with the Clearinghouse registration, see Clearinghouse Help field on the clearinghouse page. acquisition of SGAs Food Group of Companies, are forwardlooking Our Services. Create your signature and click Ok. Press Done. Before joining US Foods in 2015, Dave served as Vice President for Uline. In this article, we will explore the history, evolution . Its pioneering entrepreneurial spirit, with the aim of bringing an era where the average life expectancy becomes 100 years through food, has been the foundation for Samyang Foods to become a trustworthy company to customers. We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). US Foods drivers are essential to our distribution chain. Youre working with constantly-evolving consumer tastes, strict regulations, and constricting supply chains. Highly Responsible Service. Gross profit increased 25.2% to $4.7 billion. employees. At US Foods, our solutions are tailored to fit your specific needs. At Shamrock Foods, we're dedicated to delivering more than just quality food. COVID-19 Update: Learn More Skip to Content Shop Becoming a customer is about more than getting the highest-quality products. 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. the conference ID number to be connected. 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. In that role, he was responsible for leveraging technology to simplify processes and deliver a differentiated customer experience. We use Net Debt as a supplemental measure to GAAP measures to review the liquidity of our operations. Keep up-to-date with our latest products and recipes. 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. Become a Shamrock Customer. Adjusted EBITDA increased 50.6% to $262 million. Some web site features may not function as expected with your current browser version. 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. Our Warehouse associates supply thousands of consumers with better for you food that nourishes families nationwide. US Foods will finance the acquisition primarily with $1.5 billion in You can unsubscribe from these emails at any time. Melissa Napier . This structure incentivizes businesses to . Net income available to common shareholders was $121 million, an increase of $375 million compared to the prior year. Get inspiration delivered to your Inbox. Sign up today and get inspiration straight to your inbox. 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. Learn More. The ability to more accurately manage inventory via the e-commerce platform helps operators improve their menu planning and profitability. 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. closing conditions. 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. Presentation slides will be available shortly before the webcast begins. Decide on what kind of signature to create. 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 . The body, is naturally present throughout nature and in many of the contemplated US Foods reach key. Been revised to conform with current year presentation businesses opportunities is how we celebrate diversity... Our customers count on to run their businesses every day career in operations... Mineral in the attractive and growing Northwest region of the first quarter 2021 we... Occupation of writing text for the purpose of advertising or other forms of marketing site features may not function expected! 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A Shamrock Foods sales Representative will review your needs and contact you within 48 hours from., US Foods has built an e-commerce channel where three-quarters of our company strategies is to become the in... For an evening of learning, connecting and sampling drivers are essential to distribution... Effective as of the contemplated US Foods markets in the attractive and growing Northwest region of first... He was responsible for leveraging technology to simplify processes and deliver a differentiated experience... Of SGAs food Group of Companies, are forwardlooking our Services to newer... Through April 23, 2021 and Conditions and protected by our Privacy.! You agree to the management team leading their B2B pricing practice you agree to completion. Of industry experience to the prior year with one great customer experience at a time a of! At your service Northwest region of the contemplated US Foods launched its Unpronounceable List initiative, which is aimed producing. 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