NYSE$PFGC
Performance Food Group Co. · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
PFG's financial performance was marked by substantial revenue growth and strategic integration of Core-Mark, though net income faced a decline.
Performance Food Group Company reported strong second-quarter fiscal 2022 results, marked by double-digit net sales and gross profit growth, primarily driven by the Core-Mark acquisition and strong underlying business performance. The company has increased its full-year outlook due to this performance.
- Net sales increased by 87.6% to $12.8 billion, driven by the Core-Mark acquisition and inflation.
- Gross profit improved by 57.7% to $1.3 billion, led by the Core-Mark acquisition and growth in the independent channel.
- Adjusted EBITDA increased by 52.6% to $241.1 million.
- The company has raised its full-year fiscal 2022 outlook for net sales to $50 billion - $51 billion and Adjusted EBITDA to $970 million - $990 million.
Headline financials
Revenue & EPS history
PFG · Revenue · Quarterly
$12.8B
Revenue by segment
PFG · $11.9B total across 2 segments · Q2 2022
- Foodservice$6.21B+27.2%52.1%
- Convenience$5.71B—47.9%
Forward guidance
PFG expects net sales to be in a range of $12.9 billion to $13.1 billion and Adjusted EBITDA to be in a range of $220 million to $230 million for the fiscal third quarter of 2022. For the full fiscal year 2022, PFG now expects net sales to be in a range of $50 billion to $51 billion and Adjusted EBITDA to be in a range of $970 million to $990 million.
Tailwinds
- Net sales are expected to be in the range of $12.9 billion to $13.1 billion for the fiscal third quarter of 2022.
- Adjusted EBITDA is expected to be in the range of $220 million to $230 million for the fiscal third quarter of 2022.
- Net sales are now expected to be in the range of $50 billion to $51 billion for the full fiscal year 2022.
- Adjusted EBITDA is now expected to be in the range of $970 million to $990 million for the full fiscal year 2022.
- The outlook includes the impact of 10 months of Core-Mark’s business results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+0.4%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+1.5%
Avg return
30 days after
48%
22 / 46 earnings
Positive
+16.8%
Q2 2022
Best reaction
-15.0%
Q2 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +6.1% | +8.0% | +11.5% | |
| Q2 2026 | -15.0% | -5.4% | -9.9% | |
| Q1 2026 | -1.3% | +0.9% | -5.3% | |
| Q4 2025 | +2.8% | +0.4% | +7.6% | |
| Q3 2025 | +2.4% | +7.9% | +8.9% | |
| Q2 2025 | -2.6% | -5.5% | -14.0% | |
| Q3 2024 | +2.5% | +0.6% | +0.3% | |
| Q2 2024 | -1.0% | +0.5% | +4.1% | |
| Q1 2024 | -0.6% | +0.9% | +8.2% | |
| Q4 2023 | +9.2% | +8.3% | +5.2% | |
| Q3 2023 | -2.6% | -3.5% | -10.5% | |
| Q2 2023 | -4.7% | -2.7% | -11.6% | |
| Q1 2023 | +8.5% | +11.8% | +15.1% | |
| Q4 2022 | -2.0% | -5.8% | -8.9% | |
| Q3 2022 | -9.5% | -6.9% | -13.9% | |
| Q2 2022 | +16.8% | +13.9% | +4.5% | |
| Q1 2022 | +3.4% | +1.0% | -1.4% | |
| Q4 2021 | -3.7% | +2.9% | +1.1% | |
| Q3 2021 | -3.7% | -3.6% | -11.9% | |
| Q2 2021 | +5.0% | +6.5% | +10.8% | |
| Q1 2021 | +0.4% | +24.3% | +29.1% | |
| Q4 2020 | -1.6% | -2.3% | +7.3% | |
| Q3 2020 | -9.7% | -10.1% | +6.9% | |
| Q2 2020 | +0.0% | +3.3% | -25.5% | |
| Q1 2020 | +6.0% | +3.5% | +9.4% | |
| Q4 2019 | +3.3% | +5.8% | +6.4% | |
| Q3 2019 | -4.7% | -5.4% | -2.8% | |
| Q2 2019 | +8.0% | +9.2% | +7.4% | |
| Q1 2019 | +9.2% | +9.0% | +14.2% | |
| Q4 2018 | -10.4% | -10.4% | -13.9% | |
| Q3 2018 | +7.5% | +6.3% | +8.4% | |
| Q2 2018 | -3.8% | -3.0% | +0.9% | |
| Q1 2018 | +4.1% | +3.5% | +17.4% | |
| Q4 2017 | +2.3% | +4.2% | +9.6% | |
| Q3 2017 | +11.0% | +9.4% | +10.6% | |
| Q2 2017 | +5.7% | +7.1% | +6.6% | |
| Q1 2017 | -2.9% | +0.4% | -5.9% | |
| Q4 2014 | -4.1% | -1.3% | -9.5% | |
| Q4 2016 | -2.8% | +2.3% | -9.3% | |
| Q3 2015 | +6.1% | — | — | |
| Q3 2016 | +6.1% | — | — | |
| Q2 2016 | -2.0% | — | — | |
| Q2 2015 | -2.0% | — | — | |
| Q1 2016 | -6.4% | — | — | |
| Q1 2015 | -6.4% | — | — | |
| Q4 2015 | -6.4% | — | — | |
| Q3 2014 | — | — | — |
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