NYSE$PFGC
Performance Food Group Co. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
PFG's Q4 2023 results were released, showcasing strong independent organic case growth, double-digit gross profit growth, and strong cash flow.
Performance Food Group Company reported strong Q4 fiscal 2023 results, driven by broad-based strength across all three reportable segments and organic independent restaurant case growth. The company's strong balance sheet allowed for investments in growth initiatives and share repurchases.
- Total case volume grew by 2%.
- Net sales increased by 2% to $14.9 billion.
- Gross profit improved by 12% to $1.7 billion.
- Net income increased to $150.1 million.
Headline financials
Revenue & EPS history
PFG · Revenue · Quarterly
$14.9B
Revenue by segment
PFG · $13.6B total across 2 segments · Q4 2023
- Foodservice$7.32B-1.1%53.8%
- Convenience$6.29B+2.3%46.2%
Forward guidance
For the fiscal first quarter of 2024, PFG expects net sales to be in a range of $14.7 billion to $15.0 billion and Adjusted EBITDA to be in a range of $360 million to $380 million. For the full fiscal year 2024, PFG expects net sales to be in a range of $59 billion to $60 billion. For the full fiscal year 2024, PFG expects Adjusted EBITDA to be in a range of $1.45 billion to $1.5 billion. PFG reiterates its previously announced 3-year net sales and Adjusted EBITDA targets. The Company continues to expect to achieve annual net sales of $62 to $64 billion and Adjusted EBITDA between $1.5 and $1.7 billion in fiscal 2025.
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 Q4 2023
+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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