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) has announced that George Holm, Chairman & CEO, and Jim Hope, CFO, will participate in the 2022 Consumer Analyst Group of New York (CAGNY) Virtual Conference. Their pre-recorded presentation is scheduled for February 24, 2022, at 12:40 p.m. ET. The presentation will be available in listen-only mode on investors.pfgc.com. Performance Food Group is a leading foodservice distribution company in North America, serving over 300,000 locations.
Performance Food Group Company (PFGC) reported significant growth in its second quarter of fiscal 2022, with net sales reaching $12.8 billion, an increase of 87.6% year-over-year. Total case volume rose 40.0%, largely driven by the acquisition of Core-Mark. Gross profit grew 57.7% to $1.3 billion, while net income fell 52.3% to $8.4 million. Adjusted EBITDA surged 52.6% to $241.1 million, but diluted EPS dropped 61.5% to $0.05. PFGC has increased its full-year outlook, projecting net sales between $50 billion and $51 billion.
Performance Food Group Company (PFGC) will host a live audio webcast on February 9, 2022, at 9 a.m. EST, to discuss its second-quarter fiscal 2022 financial results. A news release detailing these results will be issued at 7 a.m. EST. The presentation will be led by George Holm, Chairman & CEO, and Jim Hope, CFO, who will also answer questions from the investment community. The webcast will be accessible on investors.pfgc.com and an archived version will be available later the same day.
Performance Food Group Company (PFGC) announced management changes to enhance its growth strategy aligned with its reporting structure. Effective January 3, Craig Hoskins has been appointed President & Chief Operating Officer responsible for Foodservice and Vistar operations, while Patrick Hagerty becomes Executive Vice President & Chief Commercial Officer. Both will report to George Holm, Chairman & CEO. This restructuring aims to capitalize on cross-channel growth opportunities and leverage the extensive industry experience of the new leaders following significant acquisitions that have doubled annual revenue since fiscal 2019.
Performance Food Group Company (PFGC) announced its participation in the 2021 Barclays Eat, Sleep, Play Conference on December 2. CEO George Holm and CFO Jim Hope will discuss strategic insights during the live webcast at 9:45 a.m. ET. PFGC reaffirmed its fiscal Q2 2022 outlook, estimating net sales of $12.7 to $12.9 billion and Adjusted EBITDA of $210 to $225 million. For the full fiscal year 2022, net sales are expected to be between $49.5 billion and $50.5 billion, with Adjusted EBITDA ranging from $940 million to $960 million, incorporating results from Core-Mark's acquisition.
Performance Food Group Company (PFGC) announced participation in the 2021 Barclays Eat, Sleep, Play Conference. Chairman, President & CEO George Holm, along with CFO Jim Hope, will present on Thursday, December 2, at 9:45 a.m. ET. The presentation will be webcast live and accessible in listen-only mode via investors.pfgc.com. An archived version will be available the same day. PFGC is a leader in foodservice distribution, with over 150 locations across North America, serving more than 300,000 customers.
Performance Food Group Company (PFGC) reported first-quarter fiscal 2022 results, showcasing a robust 47.4% increase in net sales, reaching $10.4 billion, attributed to the Core-Mark acquisition and price increases. Gross profit rose 40.1% to $1.1 billion, with net income flipping to $4.7 million from a prior loss. Adjusted EBITDA climbed 35.9% to $183.7 million. Total case volume surged by 27%, including a 21.1% increase in independent cases. The company anticipates net sales of $12.7 to $12.9 billion for Q2 2022 and $49.5 to $50.5 billion for the full year.
RDE, Inc. (RSTN) has announced a collaboration with Performance Foodservice, a division of Performance Food Group Company (PFGC), to provide marketing services through Restaurant.com. This partnership aims to help restaurants attract new customers and enhance their marketing strategies. The collaboration leverages Performance Foodservice's One Source Solution Partners program, connecting restaurant clients with essential resources for operational and marketing support. The initiative is expected to drive additional revenue for participating restaurants.
Performance Food Group (PFGC) will present its first-quarter fiscal 2022 financial results on November 10, 2021, via a live audio webcast at 9 a.m. ET. The results news release will be issued at 7 a.m. ET. PFG's leadership, including Chairman and CEO George Holm and CFO Jim Hope, will discuss financial outcomes and engage with the investment community.
The webcast will be accessible in listen-only mode on investors.pfgc.com, with registration required. An archived version will be available later the same day.
Performance Food Group Company (PFGC) has announced a $25,000 donation to World Central Kitchen, following an earlier $50,000 contribution this year. This support aims to aid communities affected by recent hurricanes. PFGC's leadership, including CEO George Holm, emphasizes the importance of food in strengthening communities during crises. Additionally, the company is matching $25,000 in employee donations to the American Red Cross.