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Dec 28, 2019
PFG Q2 2020 Earnings Report
Performance Food Group Company's second-quarter fiscal 2020 results were reported.
Key Takeaways
Performance Food Group Company reported a 31.5% increase in net sales to $6.1 billion and a 22.2% increase in Adjusted EBITDA to $142.9 million for the second quarter of fiscal 2020.
Total case volume grew 6.7%.
Net sales increased 31.5% to $6.1 billion.
Gross profit improved 15.7% to $711.2 million.
Adjusted EBITDA increased 22.2% to $142.9 million.
PFG
PFG
PFG Revenue by Segment
Revenue by Segment
Foodservice Revenue
CapyFin.com Forward Guidance
PFG raises its Adjusted EBITDA growth outlook, which includes expected contributions from Eby-Brown and Reinhart, to be in a range of 27% to 33% over its fiscal 2019 Adjusted EBITDA of $475.5 million. Adjusted Diluted EPS is now expected to be in a range of $2.17 to $2.28 representing a growth rate of 2% to 7% over its fiscal 2019 Adjusted Diluted EPS of $2.13.
Positive Outlook
- Organic case growth in a range of 3% to 5%, which excludes contributions from Eby-Brown & Reinhart
- Interest expense in a range of approximately $115 million to $120 million.
- An effective tax rate on operations of approximately 26%
- Capital expenditures between $180 million and $200 million
- Depreciation in a range of $175 million to $185 million and amortization in a range of $65 million and $75 million.