PFG Q3 2024 Earnings Report
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.
PFG
PFG
PFG 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