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 (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.
Performance Food Group Company (PFGC) reported its second-quarter and first-half fiscal 2021 results, showing a net income decline of 57.3% to $17.6 million. The company's net sales rose 12.8% to $6.8 billion, largely due to the acquisition of Reinhart Foodservice, which contributed $1.3 billion to sales. EBITDA increased 18.2% to $147.2 million, while diluted EPS fell 66.7% to $0.13. Operating expenses surged 18.9% to $750.2 million, mainly due to Reinhart's acquisition. Despite challenges, PFGC's case volume increased 8.4%, although excluding Reinhart, it declined by 16.9%.
Performance Food Group Company (PFGC) will host a live audio webcast on February 3, 2021, at 9 a.m. ET to discuss its second-quarter fiscal 2021 financial results, which will be released at 7 a.m. ET that day. George Holm, Chairman and CEO, along with Jim Hope, CFO, will present the results and answer questions from investors and media. The webcast will be accessible in listen-only mode on investors.pfgc.com and an archived version will be available post-event.
Performance Food Group Company (PFGC) announced participation in the 2021 ICR Virtual Conference by Chairman, President & CEO George Holm and CFO Jim Hope.
The live webcast is scheduled for Tuesday, January 12, 2021, at 11:30 a.m. ET, accessible via investors.pfgc.com.
An archived replay will be available later that day.
Performance Food Group Company (PFGC) has appointed Warren M. Thompson as an independent director on its Board of Directors, expanding the board to 11 members. Mr. Thompson, President and Chairman of Thompson Hospitality Corporation, brings extensive foodservice industry experience. He will also join the Audit and Technology Committees. With a background in managing food service for Fortune 100 companies and historically black colleges, his insights are expected to enhance PFG's strategic vision. The leadership change is part of PFG's commitment to strengthening governance.
Performance Foodservice, a division of Performance Food Group Company (PFGC), has launched its Green Origin™ brand, featuring a line of plant-based protein products. This new portfolio includes burgers, grinds, breakfast sausages, and nuggets made exclusively by Greenleaf Foods. The brand emphasizes quality, being 100% plant-based and free from artificial additives. With this initiative, Performance Foodservice aims to strengthen its position in the growing plant-based food segment, catering to the increasing consumer demand for sustainable and healthier dining options.
Performance Food Group Company (PFGC) reported its first-quarter fiscal 2021 results, with net sales rising 12.9% to $7.0 billion, aided by the acquisition of Reinhart Foodservice, which contributed $1.46 billion. Total case volume increased 8.9%, but excluding Reinhart, fell 17.5%. Gross profit increased 14.6% to $815.5 million, while gross margin improved to 11.6%. The company incurred a net loss of $0.7 million, contrasting with a net income of $36.1 million a year ago, primarily due to higher operating expenses and interest costs. Adjusted diluted EPS decreased 56.1% to $0.25.