US Foods CEO John Lederer Stays Positive As the Company's Q4 2014 Comes to a Soft Close

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Fri. March 20th, 2015 - by Melissa De Leon Chavez

ROSEMONT, IL - As a company sitting in limbo waiting to be sold to Sysco, US Foods is “managing fairly well” as it releases its quarterly report for the fourth quarter of its 2014 fiscal year.

John Lederer, CEO of US Foods"On the whole we're in a very good position given the situation that surrounds us," President and CEO John Lederer said on a quarterly call Friday, according to the Chicago Tribune.

Highlights for US Foods' Q4 2014 included a sales increase of 3.7%, and cases decreased 1.8%. Net income was $48 million, while adjusted EBITDA was $240 million, a 2.4% decrease from last year. 

The quarterly report also included, for overall reference, the results and events that took place over the 2014 Fiscal Year:

  • Sales increased 3.2%, and cases decreased 1.2%.
  • Net loss was $73 million.
  • Adjusted EBITDA was $866 million, a 2.5% increase from last year.
  • Business transformation focused on differentiation and innovation.
  • Category Management and Merchandising Sales Force Effectiveness.
  • Acquisition by Sysco (the “Acquisition”).

In regards to the acquisition, the financial report also lists the blow that the merger dealt with last month when the FTC voted 3 to 2, leading to a standstill on the deal until it can be evaluated by a judge.

"We here at US Foods believe very strongly in this merger," Lederer commented, according to the Tribute. "We all are hoping for a very positive outcome."

According to Reuters, Sysco and US Foods did win a round in the legal turmoil. A judge has ruled that the company, and some of its employees, must be told the names of people who provided evidence used to challenge the deal in court. So the chess match continues, and AndNowUKnow will be here to continue to keep you up to date.

US Foods