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Sep 27
PFG Q1 2026 Earnings Report
PFG reported strong first-quarter fiscal 2026 results with double-digit sales, gross profit, and Adjusted EBITDA growth, alongside robust independent foodservice case volume.
Key Takeaways
Performance Food Group Company started fiscal 2026 with strong results, achieving solid sales growth and market share gains across all operating segments. The company reported a 10.8% increase in net sales to $17.1 billion and a 16.6% increase in Adjusted EBITDA to $480.1 million. Net income, however, decreased by 13.3% to $93.6 million, primarily due to increased operating and interest expenses.
Net sales increased by 10.8% to $17.1 billion, driven by recent acquisitions, case volume growth, and inflation.
Adjusted EBITDA grew by 16.6% to $480.1 million, reflecting strong operational performance.
Net income decreased by 13.3% to $93.6 million, impacted by higher operating and interest expenses.
Diluted EPS decreased by 13.0% to $0.60, while Adjusted Diluted EPS increased by 1.7% to $1.18.
PFG
PFG
PFG Revenue by Segment
Revenue by Segment
Foodservice Revenue
CapyFin.comConvenience Revenue
CapyFin.comSpecialty Revenue
CapyFin.com Forward Guidance
For the second quarter of fiscal 2026, PFG expects net sales between $16.4 billion and $16.7 billion, and Adjusted EBITDA between $450 million and $470 million. For the full fiscal year 2026, net sales are now expected to be in the range of $67.5 billion to $68.5 billion, an increase from the prior expectation, while Adjusted EBITDA is still expected to be between $1.9 billion and $2.0 billion.
Positive Outlook
- Increased sales guidance for full fiscal year 2026, reflecting optimism for the balance of the year.
- On track to achieve 3-year financial objectives announced at Investor Day in May.
- Continued focus on executing long-term strategic plan to drive growth, market share expansion, and profitability.
- Strong start to fiscal 2026 with solid sales growth and share gains.
- Long runway of opportunity expected to create lasting shareholder value.
Challenges Ahead
- Adjusted EBITDA outlook excludes the impact of certain income and expense items that management believes are not part of underlying operations, which could be significant and are difficult to predict.
- No reconciliation to the closest corresponding GAAP financial measure for Adjusted EBITDA outlook is provided due to the unpredictability of certain items.
- Potential risks to outlook include economic factors, competition, inflation, and labor costs.
- Risks associated with acquisitions, including the ability to realize benefits or successfully integrate businesses.
- Volatility of fuel and other transportation costs could impact future results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income