Welcome to our dedicated page for Performance Food Group Co news (Ticker: PFGC), a resource for investors and traders seeking the latest updates and insights on Performance Food Group Co stock.
Performance Food Group Company (PFGC) is a Fortune 100 food and foodservice distributor that is described as an industry leader and one of the largest food and foodservice distribution companies in North America. Founded and headquartered in Richmond, Virginia, the company and its family of businesses market and deliver food and related products to more than 300,000 locations, including independent and chain restaurants; businesses, schools and healthcare facilities; vending and office coffee service distributors; and big box retailers, theaters and convenience stores.
The PFGC news feed highlights developments that matter to investors and market watchers. Recent company announcements have focused on leadership succession, with PFG disclosing that George L. Holm will retire as Chief Executive Officer and that Scott E. McPherson will become Chief Executive Officer and President while Mr. Holm moves to the role of Executive Chair. Other news items cover shareholder engagement and governance, including a cooperation agreement with Sachem Head Capital Management LP and the appointment of Scott D. Ferguson to the Board of Directors and the Audit and Finance Committee.
News coverage also includes financial and operating updates. PFG regularly issues earnings releases for its fiscal quarters and full year, detailing case volume growth, net sales, gross profit, segment performance and cash flow, as well as its financial outlook. These releases describe trends across its Foodservice, Convenience and Specialty segments and the impact of acquisitions such as Cheney Brothers and José Santiago. In addition, the company has reported on an information-sharing arrangement with US Foods Holding Corp. to evaluate a potential business combination, followed by a later announcement that PFG and US Foods mutually agreed to terminate that process.
By following PFGC news, readers can monitor topics such as segment performance, acquisitions, capital allocation, shareholder activism, governance changes and strategic initiatives like the PFG One enterprise approach. The news stream provides context for how PFG navigates competition, integration of acquired businesses and its role in the food-away-from-home distribution market.
Performance Food Group Company (NYSE: PFGC) is set to host 66 Foodcentric Experience events in 2022, marking a significant increase since 2018. Over 50,000 attendees are anticipated across the country. These events aim to provide vital industry insights, featuring seminars on marketing, operations, technology, and more. The year will conclude with a major event in Orlando from Oct. 16-20, 2022, showcasing the latest trends and products in food service.
Performance Food Group Company (PFGC) will host its 2022 Investor Day webcast on June 29 at 10:15 a.m. ET. Key executives, including CEO George Holm, will present updates to the investment community. PFGC is revising its fiscal 2022 guidance, projecting net sales between $50.5 billion and $51 billion, with Adjusted EBITDA revised to $1 billion to $1.01 billion, reflecting strong April and May results. The company's outlook takes into account 10 months of Core-Mark contributions. Investors can register and access the archive on the company's investor site.
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Performance Food Group Company (PFGC) has announced the promotion of three executives to Executive Vice President: Don Bulmer (CIO), Erika Davis (CHRO), and Brent King (General Counsel). Effective immediately, these promotions recognize their valuable contributions to the company's success. Chairman and CEO George Holm stated that their leadership is crucial for attracting talent and delivering innovative solutions. PFGC operates as a leading food and foodservice distribution company across North America.
Performance Food Group Company (NYSE: PFGC) has improved its ranking to No. 112 on the 2022 Fortune 500 list, highlighting its strong growth and industry leadership. This ascent reflects PFGC's strategic focus on sustainable sales growth and expansion since its IPO in 2015, moving up from No. 185 in 2016. The company's success is supported by over 30,000 associates dedicated to customer relationships in the foodservice distribution sector.
Performance Food Group Company (PFGC) reported strong fiscal 2022 Q3 results, with net sales soaring 81.6% to $13.1 billion, propelled by the Core-Mark acquisition. Total case volume surged 35.3%, while gross profit rose 61.6% to $1.3 billion, reflecting effective integration strategies. Net income skyrocketed 407.9% to $23.4 million. Adjusted EBITDA increased 96.3% to $237.9 million. For the full fiscal year 2022, PFGC raised its net sales outlook to $50.5-$51 billion and Adjusted EBITDA to $990 million-$1 billion, anticipating continued growth across all segments.
Performance Food Group Company (PFGC) has scheduled a live audio webcast on May 11 at 9 a.m. ET to discuss its third-quarter fiscal 2022 financial results. A news release will be issued at 7 a.m. ET the same day. Company executives, including Chairman & CEO George Holm and CFO Jim Hope, will present the results and address questions from the investment community. The webcast will be accessible on the company's investor relations website, and a recorded version will be available later in the day.
Performance Food Group Company (PFGC) has launched 10 net-zero emission refrigeration trailers at its Gilroy, CA distribution center in partnership with Advanced Energy Machines. These solar-supported electric units can maintain temperatures as low as -20°F. This initiative supports PFG's ESG commitment to reduce power consumption intensity by 20% by 2030, while complying with California's zero-emission requirements for TRUs by 2029. Since June 2021, these units have cut down diesel usage by over 6,500 gallons, decreasing the carbon footprint by 73 tons.
Performance Food Group Company (NYSE:PFGC) has announced a $50,000 donation to World Central Kitchen (WCK) aimed at providing meals for Ukrainian refugees. CEO George Holm expressed pride in supporting WCK’s humanitarian efforts during the ongoing crisis in Ukraine. This donation aligns with PFG's focus on combating food insecurity and enhancing community welfare. PFG has a history of supporting WCK in response to various crises, reinforcing their commitment to corporate social responsibility.
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