Welcome to our dedicated page for Performance Food Group news (Ticker: PFGC), a resource for investors and traders seeking the latest updates and insights on Performance Food Group stock.
Performance Food Group Company reports developments in North American food and foodservice distribution, including results for its Foodservice, Vistar and Convenience businesses. The company markets and delivers food, candy, snacks, beverages, cigarettes and other tobacco products, health and beauty care items, and related products to restaurants, schools, healthcare facilities, vending and office coffee service distributors, retailers, theaters, convenience stores, travel providers and hospitality customers.
PFGC news commonly covers case-volume trends, net sales, product-cost inflation, cash flow, procurement and operating expense drivers, acquisitions, debt financing, guidance updates, leadership succession, shareholder matters and risk topics such as technology disruption, cybersecurity and environmental compliance.
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.
Performance Food Group Company (PFGC) will host a live audio webcast on November 4 at 9 a.m. ET to discuss its first-quarter fiscal 2021 financial results. A news release with these results will be issued at around 7 a.m. ET on the same day. George Holm, the CEO, and Jim Hope, the CFO, will present the financial results and address questions from the investment community and media. This event underscores PFGC's commitment to transparency and investor engagement.