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.
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Performance Food Group Company (PFGC) announced it will host a live audio webcast to discuss its third-quarter fiscal 2023 financial results on May 10, 2023, at 9 a.m. ET. A news release with the financial results will be issued at approximately 7 a.m. ET on the same day. The event will feature discussions with George Holm, Chairman & CEO, and Patrick Hatcher, Executive VP & CFO, who will also answer questions from the investment community and media. Investors can access the webcast via investors.pfgc.com, with pre-event registration required. An archived version will be available later that day.
PFGC, based in Richmond, Virginia, is one of North America's largest food distribution companies, serving over 300,000 locations with a workforce of more than 35,000 associates.
Performance Food Group Company (PFGC) released its 2022 Environmental, Social and Governance (ESG) report, highlighting advancements in its ESG initiatives.
Key achievements include:
- Setting a new goal to reduce greenhouse gas emissions.
- Deploying 10 net-zero refrigeration trailers in Gilroy, CA, with plans for more.
- Establishing a Preferred Purchasing Policy for suppliers with ESG commitments.
- Increasing spend with MWVBE vendors by 7%.
- Launching the Women of PFG Associate Resource Group and introducing the Black Inclusion Group.
CEO Craig Hoskins emphasized the importance of these efforts in driving positive change within communities.
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Yerbaé Brands Corp. has successfully completed its merger with Yerbaé Brands Co., marking a significant step in its growth strategy. The transaction, finalized through a reverse triangular merger, combines the entities and enhances capital resources. The company has seen growth through retail partnerships with major players like Costco and Sprouts Farmers Market. Yerbaé also launched the innovative Pumpkin Spice energy drink, attracting media attention. Alongside organizational changes, including a new CFO and board of directors, the merger positions Yerbaé for increased market reach and investor engagement. Shares resumed trading on TSXV under 'YERB.U' on February 13, 2023.
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 location value="LU/us.tx.dallas"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.