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Performance Food Group Company - PFGC STOCK NEWS

Welcome to our dedicated page for Performance Food Group Company news (Ticker: PFGC), a resource for investors and traders seeking the latest updates and insights on Performance Food Group Company stock.

Performance Food Group Company (PFGC) is a leading foodservice distributor in the United States with over 150,000 customer locations and approximately 150,000 food and related products. Operating through its three main divisions—Performance Foodservice, Vistar, and PFG Customized—the company has a broad customer base that includes independent and chain restaurants, schools, hospitals, vending distributors, and big box retailers. PFG's extensive reach is supported by 68 distribution centers and more than 12,000 associates nationwide.

Founded in Richmond, Virginia, PFG is recognized as the third-largest U.S. food-service distributor, holding a 9% market share. The company's food-service business, which accounts for 52% of its 2022 sales, provides customized food products and services to a wide range of customers. PFG has also expanded into the convenience store segment, contributing 41% to its sales, through strategic acquisitions such as Eby-Brown in 2019 and Core-Mark in 2021. The Vistar division, making up 7% of sales, distributes snacks, candy, and beverages to vending and office coffee service distributors, theaters, and hospitality providers.

Recent achievements underscore PFG's commitment to sustainability and innovation. In January 2024, the company partnered with Hyzon Motors to introduce hydrogen fuel cell electric vehicles (FCEVs) into its fleet, marking a significant step toward achieving decarbonization goals. These zero-emission trucks, delivered to PFG's Vistar facility in Fontana, California, will help reduce carbon emissions and noise pollution, benefiting the environment and local communities.

Furthermore, in April 2024, PFG announced a partnership with Neogen Corporation to enhance its PathProven food trace technology. This collaboration utilizes Neogen's DNA testing capabilities to trace food products back to their origins, ensuring quality and transparency. PFG's flagship Braveheart Black Angus Beef program exemplifies this commitment, using DNA testing to verify Angus genetics and set a high standard for beef programs.

Financially, PFG has demonstrated robust performance as a Fortune 100 company, driven by its dedicated workforce of over 35,000 associates. The company's strategic partnerships and innovative solutions continue to position it as a trusted partner in the foodservice industry.

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Performance Food Group (PFG) collaborated with Advanced Energy Machines, FreeWire, GridMarket, and Volvo Trucks North America to create a sustainable distribution center at its Gilroy, CA facility. The partnership focuses on zero-emission transportation and refrigeration technologies, solar power generation, and electric vehicle charging infrastructure. PFG's initiatives have led to a significant reduction in CO2 emissions and showcase a commitment to sustainability and environmental stewardship.
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Neogen (NASDAQ: NEOG) has formed a genomics relationship with Performance Food Group (NYSE: PFGC) to enhance food traceability through DNA testing capabilities. This partnership aims to improve efficiency and sustainability within the protein supply chain.
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Performance Food Group Company (PFGC) and GPM Investments, LLC partner to launch a premium 12” pizza offering at more than 1,000 GPM locations. The pizza, available for $4.99 for enrolled fas REWARDS® members, features high-quality ingredients like California vine-ripened tomatoes and Wisconsin-made mozzarella cheese. The partnership aims to provide customers with an authentic Italian-style pizza experience.
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Performance Food Group Company (PFGC) reported strong financial results for the second quarter and first half of fiscal 2024, with total case volume and net sales increasing. The company also saw improvements in gross profit, net income, and adjusted EBITDA, as well as strong cash flow generation. PFGC's CEO expressed satisfaction with the company's business strategy and value maximization for shareholders.
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Performance Food Group Company (PFGC) has partnered with The Hershey Company to incorporate well-known Hershey products into its premium dessert line, Sweet Encore®. This partnership makes PFG the first food distribution company to feature Hershey ingredients in its desserts, including chocolate, caramel, Reese’s Peanut Butter Cups, Reese’s Pieces, and Heath Bar bits.
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Hyzon Motors Inc. delivered four hydrogen fuel cell electric vehicles (FCEVs) to Performance Food Group (PFG) as part of PFG's decarbonization efforts in Southern California. The vehicles have an expected travel range of up to 350 miles and a refueling time of fifteen minutes. The partnership aims to reduce carbon emissions from heavy-duty trucking and improve sustainability in the transportation infrastructure. The delivery marks a significant milestone for Hyzon's industry-leading technology, with plans for further collaboration on additional FCEVs.
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Hyzon Motors Inc. delivers four fuel cell electric vehicles to Performance Food Group's Vistar facility in Fontana, California. The partnership aims to reduce carbon emissions from heavy-duty trucking and improve sustainability. The vehicles have an expected travel range of up to 350 miles and an expected refueling time of fifteen minutes with fast-fill dispensing. PFG plans to insert the vehicles into its fleet to deliver snacks, candy, and beverages to its customers. The partnership also includes a potential agreement for 15 200kW FCEVs and an option for an additional 30 FCEVs.
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Performance Food Group Company (PFGC) will host a live audio webcast to discuss second-quarter fiscal 2024 financial results, with George Holm, Chairman & Chief Executive Officer, and Patrick Hatcher, Executive Vice President & Chief Financial Officer. The webcast will be available at investors.pfgc.com and an archived copy will be available later the same day.
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Performance Food Group Company (PFG) (NYSE: PFGC) announces the promotion of Scott McPherson to Executive Vice President & Chief Field Operations Officer, effective Jan. 1, 2024. McPherson will lead PFG’s Foodservice business segment and provide strategic oversight to line operations across PFG’s distribution businesses. Chris Hobson will be promoted to President & CEO, Convenience, and Sean Mahoney will be promoted to President & CEO, Vistar.
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PFGC: Strong Independent Case Growth Drives Solid Profit Results; 1Q24 Adjusted EBITDA Exceeds Previously Announced Guidance Range - Total case volume grew 2.6%, net sales increased 1.5% to $14.9 billion, and gross profit improved 5.6% to $1.7 billion. Adjusted EBITDA increased 8.2% to $383.8 million, and net income increased 26.1% to $120.7 million. Operating cash flow of $87.1 million and free cash flow of $33.9 million were reported in the first quarter fiscal 2024.
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FAQ

What is the current stock price of Performance Food Group Company (PFGC)?

The current stock price of Performance Food Group Company (PFGC) is $84.14 as of December 23, 2024.

What is the market cap of Performance Food Group Company (PFGC)?

The market cap of Performance Food Group Company (PFGC) is approximately 13.0B.

What does Performance Food Group Company do?

Performance Food Group Company (PFGC) markets and distributes approximately 150,000 food and related products to over 150,000 customer locations across the U.S.

Who are PFGC's main customers?

PFGC serves a diverse customer base including independent and chain restaurants, schools, hospitals, vending distributors, big box retailers, and theaters.

How many distribution centers does PFGC have?

PFGC operates 68 distribution centers across the United States.

What are the main divisions of Performance Food Group Company?

The main divisions are Performance Foodservice, Vistar, and PFG Customized.

What recent partnerships has PFGC announced?

PFGC recently partnered with Hyzon Motors to introduce hydrogen fuel cell electric vehicles and with Neogen Corporation to enhance its PathProven food trace technology.

What percentage of PFGC's sales come from the food-service business?

The food-service business accounts for 52% of PFGC's 2022 sales.

How has PFGC expanded into the convenience store segment?

PFGC expanded into the convenience store segment through the acquisitions of Eby-Brown in 2019 and Core-Mark in 2021.

What initiatives is PFGC pursuing for sustainability?

PFGC is introducing hydrogen fuel cell electric vehicles into its fleet to reduce carbon emissions and noise pollution.

How does PFGC ensure the quality of its beef products?

PFGC uses DNA testing through its PathProven program to verify Angus genetics in its Braveheart Black Angus Beef program.

What is the market share of Performance Food Group Company in the U.S. food-service distribution market?

PFGC holds a 9% market share, making it the third-largest U.S. food-service distributor.

Performance Food Group Company

NYSE:PFGC

PFGC Rankings

PFGC Stock Data

13.01B
151.65M
2.04%
98.32%
1.55%
Food Distribution
Wholesale-groceries, General Line
Link
United States of America
RICHMOND