Performance Food Group (NYSE:PFGC) Announces Quarterly Earnings Results

Performance Food Group (NYSE:PFGC) announced its quarterly earnings data on Wednesday. The food distribution company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05, FiscalAI reports. The business had revenue of $18.02 billion for the quarter, compared to analyst estimates of $18.02 billion. Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share.

Here are the key takeaways from Performance Food Group’s conference call:

• PFG reported 5.5% sales growth and 4.2% growth in total cases in fiscal Q1. Adjusted EBITDA rose 10% to $528 million, at the upper end of its guidance range, while adjusted EPS increased 11.9% to $1.32.
• Foodservice independent cases grew 7.8% overall and 5.5% organically, driven by new account wins and increased sales to existing customers. Management also cited continued gains in Performance Brands and expects Jersey Mike’s onboarding to support chain growth beginning in February.
• Gross margin improved 33 basis points, which management attributed to product mix, brand penetration, procurement initiatives, and inventory management. PFG expects procurement savings to build through fiscal 2027 and 2028, reaching about $125 million by the end of fiscal 2028.
• Elevated diesel prices, soft restaurant traffic, and consumer pressure remain headwinds; fuel reduced Q1 results by about $16 million after surcharges and hedges, with a similar impact expected in Q2. Specialty margins are also under pressure, though management expects improvement in the second half as certain costs and comparisons ease.
• PFG reaffirmed fiscal 2027 sales guidance of $72.5 billion–$73 billion and adjusted EBITDA guidance of $2.125 billion–$2.225 billion. The outlook includes an approximately 2% benefit from a 53rd week and implies 12.7% adjusted EBITDA growth at the midpoint.

Performance Food Group Stock Down 0.4%

Shares of NYSE PFGC traded down $0.39 during trading hours on Thursday, hitting $109.18. 1,096,547 shares of the stock were exchanged, compared to its average volume of 1,864,747. Performance Food Group has a 12 month low of $80.82 and a 12 month high of $117.47. The firm has a fifty day moving average price of $95.58 and a 200-day moving average price of $97.52. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The company has a market cap of $17.20 billion, a PE ratio of 47.67, a PEG ratio of 1.24 and a beta of 0.91.

Insider Buying and Selling at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,005 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $92.40, for a total value of $92,862.00. Following the sale, the insider directly owned 5,783 shares of the company’s stock, valued at $534,349.20. This represents a 14.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A. King sold 1,320 shares of Performance Food Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $138,982.80. Following the transaction, the insider owned 44,216 shares of the company’s stock, valued at approximately $4,655,502.64. This represents a 2.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 41,459 shares of company stock valued at $4,317,917. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFGC. Morgan Stanley raised their price objective on Performance Food Group from $131.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Sanford C. Bernstein raised their price objective on Performance Food Group from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup raised their price target on shares of Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, August 13th. TD Cowen raised their price objective on Performance Food Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on Performance Food Group from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.40.

Performance Food Group News Roundup

Here are the key news stories impacting Performance Food Group this week:

• Positive Sentiment: Fiscal Q1 adjusted EPS was $1.32, topping consensus estimates of about $1.26–$1.27. Revenue rose 5.5% year over year to $18.02 billion, in line with expectations; coverage also highlighted stronger net income and growth in independent-customer cases. Performance Food Group Q1 Results Improve, Expects Q2 Sales To Rise; Backs Annual Outlook
• Positive Sentiment: TD Cowen raised its price target to $125 from $110 and maintained a Buy rating, signaling increased analyst confidence in the shares. TD Cowen Stock Recommendations
• Positive Sentiment: Management expects sales to rise in Q2 and reaffirmed its fiscal 2027 annual outlook, providing reassurance that the company remains on track. Performance Food Group Maintains FY27 Net Sales Outlook

Performance Food Group Company Profile

Performance Food Group Co (NYSE:PFGC) is a food and foodservice distribution company serving restaurants, convenience stores, schools, health care facilities, hospitality businesses and other institutional customers. The company supplies a broad selection of fresh, frozen and dry food products, beverages, disposables, kitchen supplies and related equipment.

Performance Food Group operates through three primary business areas: Foodservice, which distributes products to independent and chain restaurants and institutional customers; Vistar, which supplies candy, snacks, beverages and other products to vending, theater, hospitality and specialty retail customers; and Convenience, which serves convenience stores and other retail locations with food, beverages, tobacco products and related merchandise.

The company traces its origins to 1987 and is headquartered in Richmond, Virginia.