Performance Food Group reports Q3 EPS 80c, consensus 84c

Reports Q1 revenue $,$13.86B, consensus $14.19B. “Despite a difficult operating environment in the fiscal third quarter, we are confident in our long-term outlook and I am proud of our organization’s resiliency,” said George Holm, PFG’s Chairman & Chief Executive Officer. “After a challenging January due to tough weather conditions, our business saw sequential improvement in February and March. Our independent restaurant case growth recovered nicely, increasing nearly 6% in the final two months of the quarter as we continue to gain market share. Solid execution drove Adjusted EBITDA to the midpoint of our guidance, and we are very pleased with our strong cash flow. Given our confidence, we are raising the bottom-end of our full year 2024 Adjusted EBITDA guidance to a $1.48B to $1.5B range.”