Performance Food Group Co Stock Price, News & Analysis

Performance Food Group Company (PFGC) announced plans to offer $780 million in Senior Notes due 2029. The proceeds will fund the cash consideration for the acquisition of Core-Mark Holding Company and related expenses. The notes will be guaranteed by the issuer and its material subsidiaries. If the acquisition does not close, the issuer must redeem the notes at the issue price plus interest. The offering is limited to qualified institutional buyers and non-U.S. persons. This press release is not an offer to sell securities and contains forward-looking statements subject to various risks.

Performance Food Group Company (PFGC) has announced a collaborative community solar project with EDPR NA Distributed Generation in New Vineyard, Maine. This 2.25 megawatt project, set to generate 3,000 megawatt-hours of renewable energy annually, aims to enhance PFG's energy efficiency and reduce its carbon footprint. The initiative is expected to save 365 metric tons of emissions each year and facilitate PFG's goal of procuring 10% of its energy from renewable sources by 2030. The project signifies PFG's commitment to corporate responsibility and sustainable energy practices.

Performance Food Group Company (PFGC) executives participated in the 2021 Jefferies Virtual Consumer Conference. For Q4 2021, PFGC raised its net sales forecast to at least $8.8 billion, up from $8.2 billion, and adjusted EBITDA expectations to at least $190 million, increased from $185 million. This outlook includes a 53rd week in the fiscal period. Management noted the adjusted EBITDA figures exclude variable income and expenses, emphasizing potential risks and uncertainties impacting future financial performance.

Performance Food Group Company (PFGC) announced that George Holm, Chairman and CEO, along with Jim Hope, CFO, will present at the 2021 Jefferies Virtual Consumer Conference. The presentation will be webcast live on June 23 at 10:20 a.m. ET, available in listen-only mode on investors.pfgc.com. An archived replay will be accessible later the same day. PFGC is a foodservice distribution leader with a network of over 100 distribution facilities and serves over 200,000 locations across the U.S.

Performance Food Group (PFG) announced its acquisition of Core-Mark Holding Company in a stock and cash deal valued at approximately $2.5 billion. Core-Mark shareholders will receive $23.875 per share plus 0.44 PFG shares for each Core-Mark share. Post-transaction, Core-Mark shareholders will own about 13% of the combined entity. The acquisition aims to enhance PFG's Vistar segment and is projected to add $17 billion in net sales, bringing PFG's total to approximately $44 billion. Closing is anticipated in the first half of 2022, pending regulatory approvals.

Performance Food Group Company (PFGC) reported its third-quarter 2021 results, showing a 2.9% increase in net sales to $7.2 billion driven by a 6.3% growth in independent case sales. However, total case volume fell 4.2%. Gross profit rose by 3.1% to $832.7 million, while operating expenses declined by 1.9%. Although net losses narrowed to $7.6 million from $40.2 million in the prior year, diluted loss per share improved to $0.06. For the full fiscal year, PFGC anticipates net sales of at least $8.2 billion and Adjusted EBITDA of at least $185 million.

Performance Food Group Company (PFGC) will host a live audio webcast on May 5 at 9 a.m. ET to discuss its third-quarter fiscal 2021 financial results. A news release with these results will be issued at approximately 7 a.m. ET the same day. George Holm, Chairman and CEO, along with CFO Jim Hope, will lead the discussion and answer questions from the investment community and media. The webcast will be accessible in listen-only mode on investors.pfgc.com. An archived version will be available later that day.

Performance Food Group Company (PFGC) has donated $50,000 to World Central Kitchen (WCK) to support their efforts in combating food insecurity following the winter storms in Texas. In addition to the donation, PFG also aided in delivering over 42,000 meals to children in need through Kids’ Meals Inc. This collaboration showcased PFG's commitment to corporate social responsibility and immediate community support. WCK's Director of Relief Operations appreciated PFG's quick and comprehensive response, reinforcing their alignment with WCK's mission to nourish communities during crises.

Performance Food Group Company (PFGC) announced that George Holm, Chairman & CEO, and Jim Hope, CFO, will present at the 2021 Consumer Analyst Group of New York (CAGNY) Virtual Conference. The presentation is scheduled for February 17, 2021, at 3:10 p.m. ET and will be available in a listen-only format via investors.pfgc.com. PFGC, based in Richmond, Virginia, is a leading foodservice distributor with a network of over 100 facilities, serving over 200,000 locations nationwide.