US Foods

US Foods Reports Fourth Quarter and Fiscal Year 2023 Earnings

Retrieved on: 
Thursday, February 15, 2024
Food, Beverage, Retail, CFO, Acquisition, CST, Investment, Net, Share repurchase, IWC, US Foods, Health, Debt, Growth, ID, Adjustment, GAAP, Information technology, Webcast, Foodservice, EPS, Fiscal, Saladino, Security (finance)

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 2023.

Key Points: 
  • 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 2023.
  • Net Debt at the end of fiscal year 2023 was $4.4 billion, a decrease of $238 million versus the end of fiscal 2022.
  • During the fourth quarter of fiscal 2023, the Company acquired Saladino's Foodservice, an independently owned broadline distributor based in central California for a purchase price of $56 million.
  • US Foods will host a live webcast to discuss fourth quarter and fiscal year 2023 results on February 15, 2024 at 8 a.m. CST.

Sysco Reports Second Quarter EPS Growth, Driven By Increasing Volumes and Positive Operating Leverage

Retrieved on: 
Tuesday, January 30, 2024
EPS, COVID-19, Meat, Growth, GAAP, News, Sysco, Tax, Capital expenditure, COVID, Ageing, Depreciation, Acquisition, US Foods, Share repurchase, SYY

“Second quarter results included adjusted EPS growth of over 11%, fueled by sales and volume growth, combined with positive operating leverage, as we continue to effectively manage margins.

Key Points: 
  • “Second quarter results included adjusted EPS growth of over 11%, fueled by sales and volume growth, combined with positive operating leverage, as we continue to effectively manage margins.
  • “Our second quarter operating profit included our fifth consecutive quarter of positive operating leverage, as gross profit expanded at a faster rate than operating expenses.
  • Foreign exchange rates increased both International Foodservice Operations operating expenses by 4.1% and total Sysco operating expenses by 0.9% during the quarter.
  • Foreign exchange rates increased both International Foodservice Operations operating income by 2.3% and total Sysco operating income by 0.2% during the quarter.

UP TO DATE LAUNDRY DRIVERS VOTE UNANIMOUSLY TO JOIN TEAMSTERS

Retrieved on: 
Friday, February 2, 2024
Local, US Foods, Transport, International Brotherhood of Teamsters, Mid-Atlantic (United States), Woman, Hospital, Food delivery

BALTIMORE, Feb. 2, 2024 /PRNewswire/ -- Drivers at Up To Date Laundry in Baltimore have voted unanimously to join Teamsters Local 355.

Key Points: 
  • BALTIMORE, Feb. 2, 2024 /PRNewswire/ -- Drivers at Up To Date Laundry in Baltimore have voted unanimously to join Teamsters Local 355.
  • "When I first met Up To Date Laundry drivers, they were working 60 to 65 hours a week and never received a penny of overtime.
  • Up To Date Laundry is one of the largest health care laundries on the East Coast, processing 70 million pounds of linen each year.
  • "We knew we were not getting a fair shake, so we reached out to the Teamsters for assistance," said Jamon Conway, a 13-year veteran driver at Up To Date Laundry.

US Foods Reaches Agreement With Teamsters Local 705 Representing Bensenville, Illinois, Drivers

Retrieved on: 
Thursday, January 25, 2024
Other Transport, Trucking, Other Retail, Transport, Specialty, Restaurant, Bar, Food, Beverage, Logistics, Supply Chain Management, Retail, US Foods, International Brotherhood of Teamsters

US Foods Holding Corp. (NYSE: USFD), one of America’s largest foodservice distributors, is pleased to have reached a fully recommended tentative agreement with Teamsters Local 705, the union that represents the company’s drivers in Bensenville, Ill.

Key Points: 
  • US Foods Holding Corp. (NYSE: USFD), one of America’s largest foodservice distributors, is pleased to have reached a fully recommended tentative agreement with Teamsters Local 705, the union that represents the company’s drivers in Bensenville, Ill.
  • The tentative agreement with the union was reached as a result of good faith bargaining efforts.
  • The agreement recognizes the hard-working US Foods Bensenville drivers and enables the company to continue to grow the business as it serves its valued customers in the Chicagoland area.
  • US Foods has a long-standing track record of bargaining in good faith to reach agreements with the union and expects the contract to be ratified on Feb. 3, 2024.

TEAMSTERS TRIUMPHANT IN STRIKE AGAINST US FOODS

Retrieved on: 
Monday, January 29, 2024
Corporate America, US Foods, ULP, Local, International Brotherhood of Teamsters, International, Safety, Pension fund

WASHINGTON, Jan. 29, 2024 /PRNewswire/ -- Following nearly three weeks on the picket line, the Teamsters' strike against US Foods is over. After immense pressure and picket-line extensions from workers nationwide, Teamsters Local 705 has secured a strong new contract for US Foods drivers in Bensenville, Ill.

Key Points: 
  • US Foods Workers Defeat Broadline Food Distributor, Secure Strong Contract
    WASHINGTON, Jan. 29, 2024 /PRNewswire/ -- Following nearly three weeks on the picket line, the Teamsters' strike against US Foods is over.
  • After immense pressure and picket-line extensions from workers nationwide, Teamsters Local 705 has secured a strong new contract for US Foods drivers in Bensenville, Ill.
  • "US Foods saw what they were up against and caved," said Teamsters General President Sean M. O'Brien.
  • "With this strike, the Teamsters have struck a blow that will resonate throughout Corporate America," said Tom Erickson, Director of the Teamsters Warehouse Division and Teamsters Central Region International Vice President.

US Foods Reaffirms Fiscal Year 2023 Guidance; Company to Participate at the 2024 ICR Conference

Retrieved on: 
Monday, January 8, 2024
Retail, Professional Services, Food, Beverage, Finance, US Foods, EST, Webcast, Conference, CST

US Foods Holding Corp. (NYSE: USFD) announced today that it is reaffirming its fiscal year 2023 guidance introduced on its third quarter earnings call on Nov. 9, 2023.

Key Points: 
  • US Foods Holding Corp. (NYSE: USFD) announced today that it is reaffirming its fiscal year 2023 guidance introduced on its third quarter earnings call on Nov. 9, 2023.
  • The Company is reaffirming its previously announced fiscal year 2023 guidance of:
    Total capital expenditures of $410-$430 million, consisting of $290-$310 million of cash capital expenditures and ~$120 million of fleet capital leases
    Additionally, US Foods will be attending the 26th Annual ICR Conference in Orlando on Jan. 8 and 9.
  • Dave Flitman, Chief Executive Officer, and Dirk Locascio, Chief Financial Officer, will participate in a fireside chat on Monday, Jan. 8 at 2:00 p.m. EST (1:00 p.m. CST).
  • Media and investors can listen to a live audio webcast by visiting the Investor Relations page of the company’s website at https://ir.usfoods.com/investors/events-and-presentations/default.aspx .

US Foods Donates More Than $12 Million in 2023 to Address Hunger-Relief Efforts

Retrieved on: 
Tuesday, December 19, 2023
Retail, Supply Chain Management, Philanthropy, Women, Seniors, Convenience Store, Children, Restaurant, Bar, Men, Fund Raising, Supermarket, Foundation, Family, Food, Beverage, Consumer, US Foods, Work, Partnership, Multimedia, Student, Feeding America, Holiday, American Red Cross, Investment, Hunger, Food industry

In 2023, the company donated more than $12 million in food and supplies to more than 50 Feeding America network food banks across the country.

Key Points: 
  • In 2023, the company donated more than $12 million in food and supplies to more than 50 Feeding America network food banks across the country.
  • In addition, throughout 2023, the company demonstrated an unwavering commitment to community hunger-relief efforts through a variety of associate giving and volunteer initiatives.
  • In 2023, the company donated $100,000 to the American Red Cross to support Hurricane Idalia relief efforts.
  • To learn more about US Foods its corporate giving initiatives, visit the company’s Corporate Social Responsibility Report at usfoods.com/csr .

Third Success from Astex Drug Discovery Pharma Collaboration and Licence Agreements as AstraZeneca Receives US Marketing Approval for Cancer Drug Truqap (capivasertib)

Retrieved on: 
Monday, November 20, 2023
Sale, Institute of Cancer Research, Translation, Research, AstraZeneca, Food, US Foods, PIK3CA, Mouse, Patient, PTEN, FDA, PKB, Marketing, Neoplasm, CRT, Therapy, US FDA, Drug discovery, AKT, Cancer, 3D, AKT1, Central nervous system, Recurrence, ICR, Pharmaceutical industry, Astex Pharmaceuticals

CAMBRIDGE, United Kingdom, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Astex Pharmaceuticals (UK), a pharmaceutical company dedicated to the discovery and development of novel small molecule therapeutics for oncology and diseases of the central nervous system, announced today that it is in line to receive a milestone payment from AstraZeneca on first commercial sale of the drug in the US and royalties from AstraZeneca on future sales following the US Food and Drug Administration’s (FDA) approval of Truqap™ plus Faslodex® as a treatment for adult patients with HR-positive, HER2-negative locally advanced or metastatic breast cancer with one or more biomarker alterations (PIK3CA, AKT1 or PTEN). Eligible patients will have progressed on at least one endocrine-based regimen in the metastatic setting or experienced recurrence on or within 12 months of completing adjuvant therapy.

Key Points: 
  • This is the third cancer drug in the last five years to reach market approval that has been discovered and developed under, or subsequent to, an Astex drug discovery collaboration.
  • Truqap was discovered by AstraZeneca following an earlier drug discovery research collaboration between Astex, The Institute of Cancer Research, London, and Cancer Research Technology (CRT; now Cancer Research Horizons) that was signed in 2003.
  • In 2010, AstraZeneca announced its discovery of Truqap, and began to develop the drug as a potential treatment for various forms of cancer.
  • This is also a great example of UK Biotech-Academia-Pharma collaboration and underlines the strength of the UK life sciences ecosystem.”
    Graphic of the hat-trick of three marketed cancer drugs discovered and developed under, or subsequent to, an Astex drug discovery collaboration with pharma

Verona Pharma’s President and CEO David Zaccardelli Wins Executive of the Year SCRIP Award

Retrieved on: 
Friday, November 17, 2023
COPD, VRNA, US Foods, Patient, Chronic obstructive pulmonary disease, Pharming

LONDON and RALEIGH, N.C., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), announces its President and CEO, David Zaccardelli, has won ‘Executive of the Year 2023’ at the SCRIP Awards in recognition of his exemplary leadership.

Key Points: 
  • LONDON and RALEIGH, N.C., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma” or the “Company”), announces its President and CEO, David Zaccardelli, has won ‘Executive of the Year 2023’ at the SCRIP Awards in recognition of his exemplary leadership.
  • David Zaccardelli, Pharm.
  • D., President and CEO of Verona Pharma said: “I am honored to receive this prestigious award and would like to thank the dedicated and talented team at Verona Pharma for their efforts to bring our first-in-class treatment to the millions of chronic obstructive pulmonary disease (“COPD”) patients worldwide who remain symptomatic.
  • Ensifentrine is under review by the US Food and Drug Administration for the maintenance treatment of COPD and this achievement would not have been possible without their hard work.”
    For further information please contact:

ONWARD® Reports Q3 Business Update and Year-To-Date Highlights

Retrieved on: 
Thursday, November 16, 2023
European Innovation Council, Webcast, PMA, Finger, Gait, Research, Safety, Food, BCI, US Foods, Government, SIX Financial Information, CET, De novo, MJFF, FDA, USD, Movement, Defense, EUR, Rehabilitation, Hemiunu, Euronext, SDVOSB, Hand, ARC, Partnership, Spinal cord, SCI, Nature Medicine, Blood pressure, Medical device, Pharmaceutical industry, Broadcasting, Q3, Zoom

The study participant also received a wireless brain-computer interface (BCI), designed to initiate thought-driven movement when paired with ARC-IM.

Key Points: 
  • The study participant also received a wireless brain-computer interface (BCI), designed to initiate thought-driven movement when paired with ARC-IM.
  • ONWARD ARC-IM delivers targeted, programmed ARC-IM Therapy to the spinal cord to restore movement and other functions after SCI.
  • To date, ARC-IM Therapy has been applied across multiple clinical feasibility studies to restore mobility or stabilize blood pressure after SCI.
  • In September, the Company announced a partnership with Lovell Government Services (Lovell), a Service-Disabled Veteran-Owned Small Business (SDVOSB).