Performance Food Group Co. ( (PFGC) ) has released its Q3 earnings. Here is a breakdown of the information Performance Food Group Co. presented to its investors.
Performance Food Group Company (PFG) is a leading food and foodservice distribution company in North America, known for delivering a wide range of food and related products to various sectors including restaurants, schools, and retail establishments.
In its latest earnings report for the third quarter and first nine months of fiscal 2025, PFG reported strong sales momentum with a notable increase in net sales and gross profit, despite a decrease in net income. The company also updated its full-year financial guidance.
Key financial highlights include a 10.5% increase in net sales to $15.3 billion for the third quarter and a 7.6% increase to $46.4 billion for the first nine months. Gross profit improved by 16.2% and 12.1% for the respective periods. However, net income saw a decline of 17.2% in the third quarter and 22.5% over the nine months, attributed to increased depreciation, amortization, and interest expenses. Adjusted EBITDA rose significantly by 20.1% and 16.2% for the respective periods, indicating strong operational performance.
The company highlighted its strategic acquisitions, such as Cheney Brothers, as a key driver of sales growth, alongside inflation-induced price increases. Despite the challenges, PFG’s Foodservice segment showed robust growth, while the Specialty segment experienced a slight decline in sales. The Convenience segment saw modest growth, driven by inflationary pricing.
Looking ahead, PFG remains optimistic about its fiscal fourth-quarter projections and has adjusted its full-year 2025 guidance, expecting net sales between $63 billion and $63.5 billion. The company continues to focus on integrating recent acquisitions and optimizing its operations to enhance profitability.