Performance Food Group (PFGC) Tops Q1 EPS by 5c, Revenues Miss

Performance Food Group (NYSE: PFGC) reported Q1 EPS of $0.34, $0.05 better than the analyst estimate of $0.29. Revenue for the quarter came in at $4.54 billion versus the consensus estimate of $4.56 billion.

• Total case volume grew 3.7%
• Net sales increased 4.0% to $4.5 billion
• Gross profit improved 7.0% to $593.6 million
• Net income grew 24.8% to $28.2 million
• Adjusted EBITDA increased 5.3% to $95.5 million1
• Diluted Earnings Per Share (“EPS”) grew 22.7% to $0.27
• Adjusted diluted EPS increased 25.9% to $0.341

“Our first quarter results were in line with our expectations,” said George Holm, PFG’s President and Chief Executive Officer. “Vistar had another strong quarter growing EBITDA by over 20%, fueled by its theater, retail, office coffee service and hospitality channels. Our Foodservice segment’s strategic investments in people and technology are on track to support our growth objectives for fiscal 2019 and beyond. We remain confident in delivering our fiscal 2019 Adjusted EBITDA growth of 7% to 10%.”

For earnings history and earnings-related data on Performance Food Group (PFGC) click here.

You May Also Be Interested In

• SanDisk and Micron surge as Apple confirms memory price pass-through
• Morgan Stanley Downgrades Sands China Ltd. (1928:HK) (SCHYY) to Equalweight
• Wall Street scrambles to lift Micron price targets ahead of earnings