Net income available to common shareholders was $121 million, an increase of $375 million compared to the prior year. Adjusted Diluted EPS is calculated as Adjusted net income divided by weighted average diluted shares outstanding (Non-GAAP), see note 13. Companies to retain customers, retain and hire key personnel, and 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. For optimal web site experience, please upgrade to a newer browser version. Operating expenses as a percent of Net sales were 14.5%. The increase was primarily due to higher supply chain labor costs and higher non-labor distribution costs directly attributed to the increase in total case volume. US Foods will finance the acquisition primarily with $1.5 billion in We provide the resources, the technology, and the people to support your business at every step of the way. 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. Add the rice and cook for 2/3 mins, then add the fresh chopped tomatoes. Get inspiration delivered to your Inbox. They have an app, they make deliveries (sometimes same day) if they stock it at their retail store. minimum 20 minute delay February 23, 2023. Keep up-to-date with our latest products and recipes. employment type: full-time. 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. Our Delivery Drivers make $$1,824.45 weekly! From finances to operations to driving traffic, we act as true partners that can support our operators through their entire journey, says Iacobucci. 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. We believe that Adjusted Net income (loss) may be used by investors, analysts, and other interested parties to facilitate period-over-period comparisons and provides additional clarity as to how factors and trends impact our operating performance. In this role, he is responsible for the companys digital strategy and vision and all information technology functions, including digital commerce, cyber security, business tools and infrastructure. statements as to the completion and effects of the contemplated Heres why it was named Refrigerated & Frozen Foods 2019 Foodservice Distributor of the Year. customers and our Associates., Compelling Strategic and Financial Benefits. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance periods. US Foodsis proud to have donated $10 million in food to help with COVID-19 relief efforts to help ourlocal communities make it. expects to reduce net leverage to approximately 3.0x by the end of Stay connected with Shamrock Foods. 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. It includes sustainable seafood, responsible disposables, products that support responsible agricultural practices, responsibly sourced proteins and products that contribute to waste reduction based on how they are sourced and/or manufactured, says Stacey Kinkaid, vice president product development and innovation. Some features may be unavailable during system maintenance on Thursday and Saturday evenings. 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. Place an Order Keep up-to-date with our latest products and recipes. Napier, 847-720-2767Melissa.Napier@usfoods.comorMEDIA:Sara Find out how these tools can reduce costs and improve efficiencies. US Foods drivers are essential to our distribution chain. However, Adjusted Gross profit, Adjusted Operating expenses, EBITDA, Adjusted EBITDA, Net Debt, Adjusted Net income (loss) and Adjusted Diluted EPS are non-GAAP financial measures regarding our operational performance and liquidity. Year Following Closing. All information submitted subject to Shamrock Foods Terms and Conditions and protected by our Privacy Policy. MOX is our new ordering portal that delivers speed, confidence and control for a better shortly before that time. 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. Dense_Implement8442 9 mo. US Foods Cook over a low heat until softened and add a can of chopped tomatoes. Adjusted Gross profit as a percentage of Net sales was 16.3%. 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. and businesses generally and (6) potential litigation in connection with 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. USANA is internationally recognized for high-quality, science-based nutritional supplements, healthy foods, personal care products, and skincare products. We provide our operators with unparalleled access to a wide variety of innovative products and services to help our partners set themselves apart from the competition and keep their operations efficient, profitable and easier to manage, says Andrew Iacobucci, chief merchandising officer of the Rosemont, Ill.-based foodservice distributor. From quality assurance to innovative trends, weve got you covered. employees. Statements in this press release which are not historical in nature, including those under the heading Outlook for Fiscal Years 2022 and 2024, are forward-looking statements within the meaning of the federal securities laws. At Gordon Food Service, customers are at the center of everything we do. Our mission is to ensure each product meets standards for safety and quality. Heat coconut oil in a large saucepan. companys strong cash flow generation, including synergies, US Foods US Foods also optimized its routing to reduce miles driven, and rightsized vehicles by route type to improve transportation efficiency. to please dial in 10 minutes prior to the call start time and provide (847) 720-2392 job title: Customer Service Generalist. Become a Shamrock Customer. Andrew Johnstone was named Interim General Counsel at US Foods in November 2022. 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. 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. 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. Excellent local leadership. It's designed to help you drive traffic, simplify your staffing and reduce waste - ultimately helping you make more money and unlock your potential. Operating expenses as a percent of Net sales were 14.3%. PLEASE APPLY DIRECTLY THROUGH OUR INTERNAL WORKDAY CAREER SITE. cause our actual results to differ materially from those expressed in, Operating expenses of $1.1 billion increased $127 million, or 13.0% from the prior year. 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. Food is how we celebrate our diversity and our unity. 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. 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. Our suite of smart and simple tools can help you run your restaurant more efficiently with less effort. 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. Click the link in the email we sent to to verify your email address and activate your job alert. regulatory approvals may not be obtained as a result of conditions that Centerview Partners is acting as financial advisor to US Foods, Cravath, contained in this press release speak only as of the date of this Referrals increase your chances of interviewing at US Foods by 2x. Our Serve Good product portfolio features products that are responsibly sourced or contribute to waste reduction. BECOME A CUSTOMER Download Our App Great Food. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. 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. Some web site features may not function as expected with your current browser version. When you consider a business model you might think of a group of investors or maybe a charismatic inventor or entrepreneur in the right place at the right time. 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. Gross profit increased 23.2% to $1.2 billion. benefits of the acquisition, including financial and operating results, US Foods Holding Corp. (NYSE: USFD) and Services Group of America today 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. Become a Customer in 3 easy steps. "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.". Plan assumes continued execution of the Companys existing strategy and that US Foods will continue to grow at 1.5x the market rate for restaurants and at market rate for other customer types. 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. FSA has a In Fiscal 2022, the Company expects Adjusted EBITDA of $1.2-$1.3 billion and Adjusted Diluted EPS of $1.95-$2.25. Adjusted Gross profit as a percentage of Net sales was 16.5%. 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