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 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.
Performance Food Group Company (PFGC) is set to host a live audio webcast discussing its first-quarter fiscal 2023 financial results on Nov. 9, 2022, at 9 a.m. ET. A news release with the results will be published at 7 a.m. ET the same day. PFGC executives, including Chairman & CEO George Holm and CFO Jim Hope, will present the results and answer questions from the investment community. The webcast will be accessible in listen-only mode through the company's investor relations website.
Performance Food Group Company (NYSE: PFGC) has launched its new product, Bay Winds® Fair Trade Certified™ Norwegian Salmon. This partnership with Beaver Street Fisheries grants PFG exclusive distribution rights for this unique farmed salmon, which is the world’s only Fair Trade Certified salmon. The product features a high omega-3 content, with over 2,000 mg per serving, exceeding dietary recommendations. Each salmon portion is available frozen in various sizes. PFG continues to strengthen its market presence through innovative and sustainable product offerings.
Performance Food Service in Commerce City, CO will hold a groundbreaking ceremony for a new 265,000-square-foot facility on Sept. 28, 2022. The facility aims to enhance service to over 1,100 customers and create 145 jobs over the next decade. Set to complete in late 2023, this facility will more than double the current warehouse space and implement advanced automation, increasing efficiency and capacity in foodservice distribution.
Performance Food Group Company (PFGC) has reaffirmed its financial outlook ahead of upcoming investor meetings. For Q1 2023, net sales are projected between $14.2 billion and $14.5 billion, with Adjusted EBITDA expected to range from $280 million to $300 million. For Q2 2023, net sales are anticipated between $13.5 billion and $13.8 billion, and Adjusted EBITDA between $245 million and $265 million. The full year outlook projects net sales from $56 billion to $58 billion and Adjusted EBITDA from $1.15 billion to $1.25 billion.