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Oct 02, 2021
PFG Q1 2022 Earnings Report
PFG's first quarter fiscal 2022 results were reported, showing double-digit growth in net sales and gross profit driven by the Core-Mark acquisition.
Key Takeaways
Performance Food Group Company reported a strong start to fiscal 2022, with record sales and significant growth in net sales and gross profit. The acquisition of Core-Mark contributed significantly to the company's performance, and the integration is ahead of schedule. Independent restaurant business maintained strong momentum and Vistar experienced consistent sequential improvement.
Total case volume grew approximately 27%.
Net sales increased 47.4% to $10.4 billion.
Gross profit improved 40.1% to $1.1 billion.
Adjusted Diluted EPS increased 72.0% to $0.43.
Revenue by Segment
Forward Guidance
For the fiscal second quarter of 2022, PFG expects net sales to be in a range of $12.7 billion to $12.9 billion and Adjusted EBITDA to be in a range of $210 million to $225 million. For the full fiscal year 2022, PFG expects net sales to be in a range of $49.5 billion to $50.5 billion and Adjusted EBITDA to be in a range of $940 million to $960 million. This outlook includes the impact of 10 months of Core-Mark’s business results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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