Adjusted Operating expenses as a percent of Net sales were 12.8%. 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. 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. 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). Prior to joining US Foods, he held senior finance roles with United Airlines and in public accounting with Arthur Andersen LLP. At Gordon Food Service, customers are at the center of everything we do. Go back to the previous page or go to USFoods.com, Quick Links: 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 Dave Flitman joined US Foods as Chief Executive Officer and a member of the US Foods Board of Directors on Jan. 5, 2023. realize the benefits of the acquisition, (5) the effect of the Come join us as we strive to become the Best in Food Service. Tap into our support, ideas expertise and resources to help you with labor and food shortages and changing service demands. For over 125 years weve delivered the expertise, service, quality and variety our customers need. Decide on what kind of signature to create. Adjustments to reconcile net income (loss) to net cash provided by operating activities: Gain on disposal of property and equipmentnet, (Benefit) provision for doubtful accounts. 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. You can also count on us to deliver ideas, inspiration, partnership, expertise and a can-do attitude. 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. Listeners are asked 2018 at 7:30am CDT to discuss the SGAs Food Group of Companies He also leads the companys cash and carry channel, which includes 80 CHEFSTORE locations. Total case volume increased 16.9%; independent restaurant case volume increased 28.0%. 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. statements include, but are not limited to, statements about the Furthermore, US Foods implemented 55 compressed natural gas (CNG) vehicles to reduce truck emissions. - Formerly AOL Advertising/Verizon Media/Oath. the acquisition. 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. business. We have a team of experts to help you be your creative best. The tax effect of pre-tax items excluded from Adjusted net income available to common shareholders is computed using a statutory tax rate after taking into account the impact of permanent differences and valuation allowances. Add the rice and cook for 2/3 mins, then add the fresh chopped tomatoes. 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.. High-Tech. Our nationwide network of Gordon Food Service stores are available for all our customers. Keep up-to-date with our latest products and recipes. These increases were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. 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. This is a second line of defense vs. the seller having to review all orders.. US Foods Holding Corp. (NYSE: USFD) and Services Group of America today US Foods drivers are essential to our distribution chain. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); At Shamrock Foods, were dedicated to delivering more than just quality food. 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. He also provides financial planning leadership and leads the insights and analytics team. Food is community. employees. 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 . maintain relationships with suppliers, and on their operating results All rights reserved. At US Foods, our solutions are tailored to fit your specific needs. 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. Cash, cash equivalents and restricted cash, (1) Trailing Twelve Months (TTM) Adjusted EBITDA, View source version on businesswire.com: strong focus on serving independent restaurants, which account for Gross profit of $4.7 billion increased $936 million, or 25.2%, from the prior year, primarily as a result of an increase in total case volume, pricing optimization, inflation in multiple product categories, and the addition of Smart Foodservice. Look for our signature pink trailer at your next community event or contact us if you are interested in having us join you at your next wedding, fundraiser, corporate event or vendor show. SGAs Food Group of Companies is an ideal fit. 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. Fruit and vegetables are rich in vitamins, minerals and phytonutrients but today, they are also loaded with heavy chemicals. Operating expenses of $1.1 billion increased $127 million, or 13.0% from the prior year. The event taking place at the Paramount Fine Foods . 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.. Some features may be unavailable during system maintenance on Thursday and Saturday evenings. We undertake no obligation to update or revise any BECOME A CUSTOMER Download Our App Great Food. Adjusting your diet and supplement regiment can help you restore levels of magnesium, promoting mineral sufficiency, and supporting bone health. This is a Employee Are You a Current US Foods in Job Job at US Foods in Eagle WI posted on Oodle Classifieds. . Gross profit increased 25.2% to $4.7 billion. Represents the non-cash impact of LIFO reserve adjustments. 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. Net income available to common shareholders was $59 million. It was founded in August 1989. US Foods acquired Smart Foodservice Warehouse Stores in April 2020 to . Come drive for us. With a At US Foods, being one of the largest food service distributors in the country means our customers are never alone. 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, employees and stakeholders. Discover a better way to order and track with MOX, the intuitive, fast, all-in-one e-commerce app from US Foods that works seamlessly across your devices. 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 January 2014, he was named Chief Operating Officer and President, USA & Latin America at Univar. Sara.Matheu@usfoods.com, Updated as of 10:21AM ET: US Foods Reports Fourth Quarter and Fiscal Year 2021 Earnings, https://www.businesswire.com/news/home/20220216006316/en/. By visiting this website, certain cookies have already been set, which you may delete and block. US Foods will finance the acquisition primarily with $1.5 billion in They have an app, they make deliveries (sometimes same day) if they stock it at their retail store. Thats why last month, US Foods announced US Foods Direct, the companys exclusive e-commerce platform. ROSEMONT, Ill.--(BUSINESS WIRE)-- We believe that Adjusted Net income (loss) is a useful measure of operating performance for both management and investors because it excludes items that are not reflective of our core operating performance and provides an additional view of our operating performance including depreciation, interest expense, and Income taxes on a consistent basis from period to period. We believe that Net Debt is a useful financial metric to assess our ability to pursue business opportunities and investments. 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. 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. Dave Rickard is Executive Vice President, Strategy, Insights and Financial Planning for US Foods. 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). Order online wholesale food distributor Ontario 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. 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