US Foods Holding (USFD) Q4 2020 Earnings Call Transcript

USFD earnings call for the period ending December 31, 2020.

 

Motley Fool Transcribing

Feb 16, 2021

 

US Foods Holding (NYSE:USFD)

Q4 2020 Earnings Call

Feb 16, 2021, 10:00 a.m. ET

 

Contents:

 

    Prepared Remarks

    Questions and Answers

    Call Participants

 

Prepared Remarks:

 

Operator

 

Ladies and gentlemen, thank you for standing by, and welcome to the US Foods' fourth-quarter and fiscal-year 2020 conference call. [Operator instructions] With that, I would now like to hand the conference over to your first speaker, Ms. Melissa Napier. Thank you, and please go ahead.

 

Melissa Napier -- Senior Vice President, Investor Relations, and Treasurer

 

Thank you. Good morning, everyone. Welcome to today's earnings call. I'm joined by Pietro Satriano, our CEO; and Dirk Locascio, our CFO.

 

Pietro and Dirk will provide an overview of our results for the fourth-quarter and fiscal-year 2020. We'll take your questions after our prepared remarks conclude. [Operator instructions] During today's call and unless otherwise stated, we're comparing our fourth-quarter and full fiscal-year results to the same period in fiscal-year 2019. Please keep in mind that the fourth quarter in fiscal 2020 included 14 weeks versus 13 weeks in 2019, and full fiscal 2020 results included 53 weeks versus 52 weeks in fiscal 2019.

 

References to organic financial results during today's call exclude contributions from Smart Foodservice, which we acquired in April 2020. For the Food Group, our organic financial results reflect contributions from September 14, 2020, which is the one-year anniversary of the completion of the acquisition through the end of the 2020 fiscal year. Our earnings release issued earlier this morning and today's presentation slides can be accessed on the investor relations page of our website. In addition to historical information, certain statements made during today's call are considered forward-looking statements.

 

Please review the risk factors in our 2019 Form 10-K and last quarter's 10-Q filed with the SEC for these potential factors, which could cause our actual results to differ materially from those expressed or implied in those statements. Lastly, during today's call, we will refer to certain non-GAAP financial measures. All reconciliations to the most comparable GAAP financial measures are included in the schedules on our earnings press release, as well as in the appendices to the presentation slides posted on our website. I'll now turn the call over to Pietro.

 

Pietro Satriano -- Chief Executive Officer ...

 

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