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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.
Performance Food Group Company (NYSE: PFGC) will present at the 2022 CAGNY Virtual Conference on February 24 at 12:40 p.m. ET. The company maintains its fiscal third-quarter outlook, anticipating net sales between $12.9 billion and $13.1 billion, and Adjusted EBITDA ranging from $220 million to $230 million. For the full fiscal year, PFG expects net sales of $50 billion to $51 billion and Adjusted EBITDA from $970 million to $990 million, including 10 months of Core-Mark's results.
Performance Food Group Company (NYSE: PFGC) has announced that
Performance Food Group Company (PFGC) reported significant growth in its second quarter of fiscal 2022, with net sales reaching $12.8 billion, an increase of 87.6% year-over-year. Total case volume rose 40.0%, largely driven by the acquisition of Core-Mark. Gross profit grew 57.7% to $1.3 billion, while net income fell 52.3% to $8.4 million. Adjusted EBITDA surged 52.6% to $241.1 million, but diluted EPS dropped 61.5% to $0.05. PFGC has increased its full-year outlook, projecting net sales between $50 billion and $51 billion.
Performance Food Group Company (PFGC) will host a live audio webcast on February 9, 2022, at 9 a.m. EST, to discuss its second-quarter fiscal 2022 financial results. A news release detailing these results will be issued at 7 a.m. EST. The presentation will be led by George Holm, Chairman & CEO, and Jim Hope, CFO, who will also answer questions from the investment community. The webcast will be accessible on investors.pfgc.com and an archived version will be available later the same day.
Performance Food Group Company (PFGC) announced management changes to enhance its growth strategy aligned with its reporting structure. Effective January 3, Craig Hoskins has been appointed President & Chief Operating Officer responsible for Foodservice and Vistar operations, while Patrick Hagerty becomes Executive Vice President & Chief Commercial Officer. Both will report to George Holm, Chairman & CEO. This restructuring aims to capitalize on cross-channel growth opportunities and leverage the extensive industry experience of the new leaders following significant acquisitions that have doubled annual revenue since fiscal 2019.
Performance Food Group Company (PFGC) announced its participation in the 2021 Barclays Eat, Sleep, Play Conference on December 2. CEO George Holm and CFO Jim Hope will discuss strategic insights during the live webcast at 9:45 a.m. ET. PFGC reaffirmed its fiscal Q2 2022 outlook, estimating net sales of $12.7 to $12.9 billion and Adjusted EBITDA of $210 to $225 million. For the full fiscal year 2022, net sales are expected to be between $49.5 billion and $50.5 billion, with Adjusted EBITDA ranging from $940 million to $960 million, incorporating results from Core-Mark's acquisition.
Performance Food Group Company (PFGC) announced participation in the 2021 Barclays Eat, Sleep, Play Conference. Chairman, President & CEO George Holm, along with CFO Jim Hope, will present on Thursday, December 2, at 9:45 a.m. ET. The presentation will be webcast live and accessible in listen-only mode via investors.pfgc.com. An archived version will be available the same day. PFGC is a leader in foodservice distribution, with over 150 locations across North America, serving more than 300,000 customers.
Performance Food Group Company (PFGC) reported first-quarter fiscal 2022 results, showcasing a robust 47.4% increase in net sales, reaching $10.4 billion, attributed to the Core-Mark acquisition and price increases. Gross profit rose 40.1% to $1.1 billion, with net income flipping to $4.7 million from a prior loss. Adjusted EBITDA climbed 35.9% to $183.7 million. Total case volume surged by 27%, including a 21.1% increase in independent cases. The company anticipates net sales of $12.7 to $12.9 billion for Q2 2022 and $49.5 to $50.5 billion for the full year.
RDE, Inc. (RSTN) has announced a collaboration with Performance Foodservice, a division of Performance Food Group Company (PFGC), to provide marketing services through Restaurant.com. This partnership aims to help restaurants attract new customers and enhance their marketing strategies. The collaboration leverages Performance Foodservice's One Source Solution Partners program, connecting restaurant clients with essential resources for operational and marketing support. The initiative is expected to drive additional revenue for participating restaurants.
Performance Food Group (PFGC) will present its first-quarter fiscal 2022 financial results on November 10, 2021, via a live audio webcast at 9 a.m. ET. The results news release will be issued at 7 a.m. ET. PFG's leadership, including Chairman and CEO George Holm and CFO Jim Hope, will discuss financial outcomes and engage with the investment community.
The webcast will be accessible in listen-only mode on investors.pfgc.com, with registration required. An archived version will be available later the same day.
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