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Dec 28, 2024
PFG Q2 2025 Earnings Report
PFG's financial performance was solid, marked by strong sales and Adjusted EBITDA growth, exceeding guidance.
Key Takeaways
Performance Food Group Company reported a decrease in net income despite increases in net sales and gross profit. Total case volume and independent foodservice case volume increased. The company's Adjusted EBITDA and Adjusted Diluted EPS also increased.
Total case volume increased by 9.8%.
Net sales increased by 9.4% to $15.6 billion.
Gross profit improved by 14.4% to $1.8 billion.
Adjusted EBITDA increased by 22.5% to $423.0 million.
PFG
PFG
PFG Revenue by Segment
Revenue by Segment
Foodservice Revenue
CapyFin.comConvenience Revenue
CapyFin.com Forward Guidance
PFG expects net sales to be in the range of $15.2 billion to $15.6 billion for Q3 2025. Adjusted EBITDA is expected to be in the range of $390 million to $410 million. For the full fiscal year 2025, PFG now expects net sales to be in a range of approximately $63 billion to $64 billion and Adjusted EBITDA to be in a $1.725 billion to $1.8 billion range.
Positive Outlook
- Net sales are expected to be in a range of $15.2 billion to $15.6 billion for the third quarter of fiscal 2025.
- Adjusted EBITDA is expected to be in a range of $390 million to $410 million for the third quarter of fiscal 2025.
- Full fiscal year 2025 net sales are now expected to be in a range of approximately $63 billion to $64 billion.
- Full fiscal year 2025 Adjusted EBITDA is now expected to be in a $1.725 billion to $1.8 billion range.
- The outlook includes expected business results for Cheney Brothers as of the close of the transaction.
Challenges Ahead
- PFG's Adjusted EBITDA outlook excludes the impact of certain income and expense items that management believes are not part of underlying operations.
- These items may include losses on early extinguishments of debt, restructuring charges, certain tax items, and charges associated with non-recurring professional and legal fees associated with acquisitions.
- PFG's management cannot estimate on a forward-looking basis the impact of these income and expense items on its reported net income.
- The impact of these income and expense items on net income could be significant, are difficult to predict, and may be highly variable.
- As a result, PFG does not provide a reconciliation to the closest corresponding GAAP financial measure for its Adjusted EBITDA outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income