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 Food Group (NYSE: PFGC) hosted its 2025 Investor Day and made several key announcements. The company reaffirmed its fiscal 2025 guidance with expected net sales of $63-63.5 billion and Adjusted EBITDA of $1.725-1.75 billion. PFG also unveiled its 3-year outlook for fiscal 2028, targeting annual sales of $73-75 billion and Adjusted EBITDA of $2.3-2.5 billion.
Notably, the Board authorized a new $500 million share repurchase program through May 27, 2029, replacing the previous $300 million program. The guidance includes expected business results from the Cheney Brothers acquisition.
Performance Food Group (NYSE:PFGC) has announced two upcoming investor events. The company will host a live audio webcast on May 7, 2025 at 9 a.m. ET to discuss third-quarter fiscal 2025 financial results, with the earnings release scheduled for 7 a.m. ET the same day. Chairman & CEO George Holm, CFO Patrick Hatcher, and COO Scott McPherson will lead the discussion and Q&A session.
Additionally, PFG will hold its 2025 Investor Day on May 28, 2025 at 9 a.m. ET, featuring presentations from the leadership team. Both webcasts will be available in listen-only mode at investors.pfgc.com with required pre-event registration, and archived recordings will be accessible afterward.
Performance Food Group (PFGC) reported strong Q2 fiscal 2025 results with notable growth in several key metrics. Net sales increased 9.4% to $15.6 billion, driven by recent acquisitions including Cheney Brothers, increased case volume, and inflation effects. Total case volume rose 9.8%, with independent foodservice case volume up 19.8%.
Gross profit improved 14.4% to $1.8 billion, while Adjusted EBITDA increased 22.5% to $423.0 million. However, net income decreased 45.8% to $42.4 million, primarily due to higher interest expenses. The company has updated its fiscal 2025 guidance, now expecting net sales between $63-64 billion and Adjusted EBITDA between $1.725-1.8 billion.
The company's share repurchase program continues, with $177.0 million remaining available under its $300 million authorization. Operating cash flow was $379.0 million for the first six months of fiscal 2025.
Performance Food Group (NYSE:PFGC) has announced it will host a live audio webcast on Wednesday, February 5, 2025, at 9 a.m. ET to discuss its second-quarter fiscal 2025 financial results. The company will release its financial results at approximately 7 a.m. ET on the same day.
The webcast will feature George Holm (Chairman & CEO), Patrick Hatcher (EVP & CFO), and Scott McPherson (President & COO), who will present the results and participate in a Q&A session with investors and media. The listen-only webcast will be accessible at investors.pfgc.com with pre-registration required. An archived version will be available later that day.
Performance Food Group (NYSE: PFGC) announced key leadership changes effective January 1, 2025. Scott McPherson has been promoted to President & Chief Operating Officer (COO), overseeing PFG's three business segments: Foodservice, Convenience, and Vistar. Craig Hoskins will transition to the newly created role of Executive Vice President & Chief Development Officer, focusing on integrating recent acquisitions Cheney Brothers Inc. and Jose Santiago Inc.
McPherson, with a 30-year career including various leadership positions at Core-Mark, will report to CEO George Holm. Hoskins, who has been with PFG since 1990 and served as President & COO for the past three years, will now focus on maximizing the strengths of the newly acquired organizations across PFG.
Performance Food Group Company (PFG) has announced its participation in the Barclays 10th Annual Eat, Sleep, Play, Shop Conference. The company's Chairman & CEO George Holm and Executive VP & CFO Patrick Hatcher will represent PFG at the event. A fireside chat will be webcast live on Thursday, December 5, 2024, at 11:15 a.m. ET. Investors can access the listen-only webcast on investors.pfgc.com, with an archived replay available later the same day.
Trimble (Nasdaq: TRMB) announced that Performance Food Group (PFG) has selected Trimble as its premier fleet management provider, doubling the number of Trimble-serviced trucks from 4,000 to over 8,000. PFG will implement Trimble Instinct across its entire fleet, covering all three business segments: Performance Foodservice, Core-Mark, and Vistar. The decision comes after PFG faced challenges with multiple disparate fleet management systems. The comprehensive solution will provide Electronic Logging Device (ELD) data and integrate with PFG's existing tools, streamlining operations for the Fortune 100 company that delivers over 300,000 food products across the U.S., Canada, and Puerto Rico.
Performance Food Group (NYSE: PFGC) has launched its new FarmSmart® Beef & Jackfruit Burger, in partnership with The Jackfruit Company. The innovative product combines premium beef with jackfruit, offering 40% less saturated fat and 40% lower cholesterol than traditional beef burgers. The burger has received positive feedback from college students and chefs for its taste, juiciness, and cooking characteristics. This launch aligns with PFG's commitment to providing sustainable food solutions while maintaining the taste and texture consumers expect from traditional burgers.
Performance Food Group (PFGC) reported Q1 fiscal 2025 results with net sales increasing 3.2% to $15.4 billion. Total case volume grew 2.6%, with independent foodservice case volume up 7.8%. Gross profit improved 6.1% to $1.8 billion, while net income decreased 10.5% to $108.0 million. Adjusted EBITDA rose 7.3% to $411.9 million. The company maintained its fiscal 2025 outlook with expected net sales of $62.5-63.5 billion and Adjusted EBITDA of $1.7-1.8 billion. For Q2 fiscal 2025, PFG expects net sales of $15.2-15.6 billion and Adjusted EBITDA of $400-420 million.