Here’s your quarterly pulse check on the big four in U.S. foodservice distribution—Sysco, US Foods, Performance Food Group (PFG), and Dot Foods. From M&A moves to margin pressure, here’s what’s shaping the field.
Sysco
- Sales: $20.5B (+4.4% YoY)
- U.S. Foodservice Volume: +2.7%
- Adjusted EPS: $1.09 (+1.9%)
- Margins: Gross margin down 27 bps to 18.3%, due to product mix and investments in selling.
- Outlook: Reaffirmed FY25 guidance of 4–5% sales growth and 6–7% EPS growth.
🔗 Source – Sysco Q1 FY25
US Foods
- Net Sales: $9.4B (+4.5% YoY)
- Net Income: $115M (+40.2%)
- Adjusted EBITDA: $389M (+9.3%)
- Case Volume: +1.1% overall; independent restaurant volume up 2.5%
- Moves: Acquired Jake’s Finer Foods (Houston) for $92M and launched a $1B share repurchase.
🔗 Source – US Foods IR
🔗 Source – Distribution Strategy
Performance Food Group (PFG)
- Net Sales: $15.4B (+3.2% YoY)
- Adjusted EPS: $1.16
- Adjusted EBITDA: $412M (+0.3%)
- Expansion: Announced $2.1B acquisition of Cheney Bros to grow in the Southeastern U.S., expected to close in 2025.
🔗 Source – Reuters
Dot Foods
- Innovations 2025: Hosted 3,900 attendees at its annual trade show; launched “Dot Data Services” to support digital product content.
- Partnerships: New distribution deal with Odd Burger to expand plant-based options in Canada.
🔗 Source – Dot Foods
🔗 Source – Stockhouse
💡 Takeaways
- Sysco and US Foods continue steady growth, but US Foods is outperforming on margin.
- PFG’s Cheney Bros deal could significantly shift regional dynamics in the Southeast.
- Dot Foods is leaning into tech and niche category expansion.
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