Loading...
•
Mar 30, 2024
PFG Q3 2024 Earnings Report
PFG's financial performance reflected resilience amidst a difficult operating environment, with strategic execution driving solid independent foodservice case growth and strong cash flow generation.
Key Takeaways
Performance Food Group Company reported its third quarter fiscal 2024 results, showing a slight increase in net sales and gross profit, but decreases in net income and diluted EPS. Despite a challenging January due to weather conditions, the company saw sequential improvement in February and March. The company is raising the bottom-end of its full year 2024 Adjusted EBITDA guidance to a $1.48 billion to $1.5 billion range.
Total case volume decreased 0.2%, while organic Independent Foodservice case volume increased 4.3%.
Net sales increased 0.6% to $13.9 billion.
Gross profit improved 3.8% to $1.6 billion.
Adjusted EBITDA increased 1.9% to $320.7 million.
Revenue by Segment
Forward Guidance
PFG expects net sales to be in a range of $15 billion to $15.4 billion and Adjusted EBITDA to be in a range of $430 million to $450 million for the fourth quarter of fiscal 2024. For the full fiscal year 2024, PFG now expects net sales to be in a range of approximately $58.1 billion to $58.5 billion and Adjusted EBITDA to be in a $1.48 billion to $1.5 billion range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...