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Jul 01, 2023
PFG Q4 2023 Earnings Report
PFG's Q4 2023 results were released, showcasing strong independent organic case growth, double-digit gross profit growth, and strong cash flow.
Key Takeaways
Performance Food Group Company reported strong Q4 fiscal 2023 results, driven by broad-based strength across all three reportable segments and organic independent restaurant case growth. The company's strong balance sheet allowed for investments in growth initiatives and share repurchases.
Total case volume grew by 2%.
Net sales increased by 2% to $14.9 billion.
Gross profit improved by 12% to $1.7 billion.
Net income increased to $150.1 million.
Revenue by Segment
Forward Guidance
For the fiscal first quarter of 2024, PFG expects net sales to be in a range of $14.7 billion to $15.0 billion and Adjusted EBITDA to be in a range of $360 million to $380 million. For the full fiscal year 2024, PFG expects net sales to be in a range of $59 billion to $60 billion. For the full fiscal year 2024, PFG expects Adjusted EBITDA to be in a range of $1.45 billion to $1.5 billion. PFG reiterates its previously announced 3-year net sales and Adjusted EBITDA targets. The Company continues to expect to achieve annual net sales of $62 to $64 billion and Adjusted EBITDA between $1.5 and $1.7 billion in fiscal 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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