Performance Food Group Co. · Q4 2022 earnings

Briefing

PFG experienced strong net sales and profit growth, driven by continued market share gains in independent restaurants and solid performance across all business segments.

Performance Food Group Company reported strong fourth-quarter fiscal 2022 results, with net sales increasing 57% to $14.6 billion and net income increasing 142% to $76.0 million. The company's focus on driving independent restaurant growth and the integration of Core-Mark have contributed to the positive momentum in all three business segments.

• Total case volume grew 17%
• Net sales increased 57% to $14.6 billion
• Gross profit improved 40% to $1.5 billion
• Adjusted Diluted EPS increased 91% to $1.07

Headline financials

Revenue & EPS history

For the fiscal first quarter of 2023, PFG expects net sales to be in a range of $14.2 billion to $14.5 billion and Adjusted EBITDA to be in a range of $280 million to $300 million. For the fiscal second quarter of 2023, PFG expects net sales to be in a range of $13.5 billion to $13.8 billion and Adjusted EBITDA to be in a range of $245 million to $265 million. For the full fiscal year 2023, PFG expects net sales to be in a range of $56 billion to $58 billion and Adjusted EBITDA to be in a range of $1.15 billion to $1.25 billion.