Performance Food Group Co Stock Price, News & Analysis

Performance Food Group Company (PFGC) announced participation in the 2023 Consumer Analyst Group of New York (CAGNY) Conference. CEO George Holm and CFO Patrick Hatcher will present on February 23, 2023, at 11 a.m. ET. The presentation will be available via webcast in listen-only mode on the investors.pfgc.com website. PFGC is a leading foodservice distribution company in North America, boasting over 150 locations and serving 300,000 customers, including restaurants and retailers. With a workforce of more than 35,000 associates, the company continues to build strong customer relationships.

Performance Food Group Company (PFGC) reported strong second-quarter results for fiscal 2023, with net sales rising 8.3% to $13.9 billion and gross profit increasing 17.3% to $1.5 billion. Net income soared to $71.1 million, while Adjusted EBITDA surged 28.1% to $308.8 million. For the first half, net sales grew 23.2% to $28.6 billion, and Adjusted EBITDA rose 56.2% to $663.5 million. The company raised its full-year Adjusted EBITDA outlook to a range of $1.27 billion to $1.35 billion. Despite a 10.3% inflation rate for overall product costs, PFGC's execution across business segments resulted in significant margin expansion and strong cash flow generation.

Performance Food Group Company (PFGC) announced plans for over 75 Foodcentric Experience events in 2023, following a record year in 2022 with 66 events attended by over 30,000 participants. The flagship event will be held in Dallas, TX from Oct. 23-25, 2023, expecting more than 2,000 attendees. The Foodcentric Experience focuses on networking and industry insights, featuring educational sessions and industry leader discussions. CEO Fred Sanelli emphasized the events' role in enhancing business success by addressing trends and providing valuable industry knowledge.

Performance Food Group Company (PFGC) is set to host a live audio webcast on February 8 at 9 a.m. ET to discuss its second-quarter fiscal 2023 financial results, with a news release issued at 7 a.m. ET. Led by CEO George Holm and CFO Patrick Hatcher, the webcast will be available in listen-only mode on investors.pfgc.com, requiring pre-registration. PFGC is a major food distribution company in North America, serving over 300,000 locations through its 150+ facilities. The company employs more than 35,000 associates committed to strong customer relationships.

Performance Food Group Company (NYSE: PFGC) has launched its second Associate Resource Group (ARG), named the Black Inclusion Group (BIG), as part of its Diversity, Inclusion, and Belonging initiatives. Co-chaired by Tameka McCoy and Scott Cosby, BIG aims to advocate for the advancement of Black associates at PFG. This initiative is part of a broader strategy that includes fostering community and increasing diversity across the workforce of over 30,000 associates operating in the U.S., Canada, and Mexico.

Performance Food Group Company (PFGC) announced preliminary financial results for the second quarter of fiscal 2023, projecting net sales of approximately $13.9 billion and Adjusted EBITDA of at least $290 million. This is an increase from the previous estimate of $260 million to $280 million. For the entire fiscal year 2023, PFGC expects net sales between $57 billion and $59 billion, and Adjusted EBITDA between $1.25 billion and $1.35 billion, adjusting upward from earlier forecasts.

Performance Food Group Company (NYSE:PFGC) will participate in the 2023 ICR Conference with a live webcast of its fireside chat featuring Chairman & CEO George Holm and President & COO of Vistar Patrick Hatcher. The event is scheduled for January 9, 2023, at 12:30 p.m. ET, with a listen-only mode available on investors.pfgc.com. PFGC is a leading food distribution company in North America, serving over 300,000 locations.

Performance Food Group Company (NYSE:PFGC) has authorized a new share repurchase program worth $300 million, replacing the previous $250 million program. The initiative, which focuses on returning capital to shareholders, reflects the Board's confidence in the company's financial strength and growth potential. The repurchases will be funded through cash on hand, operational cash flow, and credit borrowings. While timing and amount of shares to be purchased depend on market conditions, the program underscores PFG's commitment to strategic priorities such as sales growth and margin expansion.

Performance Food Group Company (PFGC) reported strong first-quarter fiscal 2023 results with net sales surging 42% to $14.7 billion. The total case volume increased by 16%, driven by the acquisition of Core-Mark and price inflation, contributing to significant gross profit growth of 38% to $1.6 billion. Net income rose to $95.7 million, and Adjusted EBITDA jumped 93% to $354.7 million. The company has raised its fiscal 2023 outlook, anticipating net sales between $57 billion to $59 billion and Adjusted EBITDA of $1.23 billion to $1.33 billion.