Performance Food Group (NYSE:PFGC) Releases Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Performance Food Group beat quarterly expectations, reporting EPS of $0.80 versus the $0.77 consensus and revenue of $16.29 billion, up 6.4% year over year.
• Management said the company saw broad operational strength, including adjusted EBITDA growth of 6.6% and particularly strong performance in the Convenience segment, helped by onboarding major customers like Love’s and RaceTrac.
• Despite the strong top-line growth, net income fell 28.5% due to transition and investment costs, and management trimmed FY2026 guidance while reaffirming longer-term FY2028 targets.

Performance Food Group (NYSE:PFGC - Get Free Report) released its quarterly earnings data on Wednesday. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03, FiscalAI reports. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. During the same period last year, the firm earned $0.79 earnings per share. The company's quarterly revenue was up 6.4% on a year-over-year basis.

Here are the key takeaways from Performance Food Group's conference call:

• PFG reported solid quarter with total net sales up 6.4%, company cases +4.4%, adjusted EBITDA +6.6% to $410.6M, and independent restaurant cases accelerating to +6.5%, which management says demonstrates momentum into FY2027.
• The Convenience segment (Core‑Mark) was a standout with 8.3% organic case growth, 8.7% revenue growth and an impressive reported adjusted EBITDA performance (~34%), driven by onboarding of Love's and RaceTrac and strong execution.
• Near‑term profitability was pressured by investments and transition costs at Cheney (new Florence, SC facility) and related double‑staffing during cutovers, contributing to a year‑over‑year net income decline of 28.5% (to $41.7M) and elevated expenses that will carry into Q4.
• Cash generation is strong — >$1.0B operating cash flow in first nine months and $806M free cash flow — allowing continued CapEx for growth, opportunistic buybacks, debt reduction priority, and a continued M&A pipeline.
• Management tightened FY2026 guidance (sales now $67.7B–$68.0B; adjusted EBITDA $1.90B–$1.93B) and reiterated the FY2028 targets ($73B–$75B sales; $2.3B–$2.5B adjusted EBITDA), signaling confidence in medium‑term execution despite near‑term headwinds (fuel and transition costs).

Performance Food Group Stock Up 0.6%

NYSE:PFGC traded up $0.54 during midday trading on Friday, reaching $93.25. 2,458,014 shares of the stock traded hands, compared to its average volume of 1,983,659. Performance Food Group has a 12-month low of $80.82 and a 12-month high of $109.05. The business has a 50-day moving average of $88.27 and a two-hundred day moving average of $92.46. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.68 and a current ratio of 1.52. The stock has a market capitalization of $14.65 billion, a PE ratio of 44.41, a price-to-earnings-growth ratio of 1.46 and a beta of 0.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Performance Food Group from $123.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Zacks Research upgraded shares of Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $123.00 price objective on shares of Performance Food Group in a research note on Thursday. Finally, Citigroup increased their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Performance Food Group presently has a consensus rating of "Moderate Buy" and an average target price of $119.00.

Insider Buying and Selling

In related news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the sale, the insider owned 6,601 shares of the company's stock, valued at $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Performance Food Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arax Advisory Partners raised its holdings in shares of Performance Food Group by 7.4% in the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company's stock worth $184,000 after buying an additional 140 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Performance Food Group by 10.3% in the fourth quarter. UMB Bank n.a. now owns 1,941 shares of the food distribution company's stock worth $175,000 after buying an additional 181 shares during the last quarter. Quarry LP raised its holdings in shares of Performance Food Group by 172.2% in the fourth quarter. Quarry LP now owns 1,938 shares of the food distribution company's stock worth $174,000 after buying an additional 1,226 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Performance Food Group in the third quarter worth $161,000. Finally, State of Wyoming purchased a new position in shares of Performance Food Group in the second quarter worth $153,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Company Profile

Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

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