PFGC
Performance Food Group Company94.33
-0.27-0.29%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q2 '26
Cheney costs overrun pressures Q3
Q&A revealed Cheney Brothers integration costs running higher than expected due to new facilities and public-company transition, persisting into Q3 alongside cheese/poultry deflation and weather disruptions, key drags on EBITDA guidance. Independent case growth started strong in October but softened post-shutdown, rebounded in January before February storms—management still targets 6% FY organic. Procurement synergies reaffirmed at $100-125M over three years, linear from H2, validated by US Foods clean-room work. Convenience margins poised for gains from foodservice expansion and non-combustible nicotine mix shift. Cheney overruns bite harder. Analysts flagged weather, Florida tourism softness, SNAP; responses were candid yet qualitative. Outlook remains confident on three-year plan execution.
Key Stats
Market Cap
14.79BP/E (TTM)
45.13Basic EPS (TTM)
2.09Dividend Yield
0%Recent Filings
8-K
Issued $1.06B notes, refinanced 2027 debt
Performance Food Group subsidiary issued $1.06 billion 5.625% Senior Notes due 2034 at par on February 19, 2026. Proceeds, plus revolver borrowings, redeemed all outstanding 5.500% Senior Notes due 2027 at 100% principal plus accrued interest. Notes carry standard covenants and early redemption options. Debt extended seven years.
8-K
Plans $1.06B notes offering
Performance Food Group announced its subsidiary's plan to offer $1.06 billion Senior Notes due 2034, subject to market conditions. Proceeds, plus revolver borrowings, will redeem all outstanding 5.500% Senior Notes due 2027. Notes carry full guarantees from parent and subsidiaries. Offering targets qualified buyers only.
8-K
Prices $1.06B notes due 2034
Performance Food Group priced $1.06 billion of 5.625% senior notes due 2034 on February 9, 2026, via subsidiary Performance Food Group, Inc. Closing set for February 19, subject to conditions. Proceeds, plus revolver borrowings, will redeem all outstanding 5.500% senior notes due 2027. Notes carry slightly higher rate, extending debt maturity.
10-Q
Q2 FY2026 results
Performance Food Group posted solid Q2 FY2026 results ended December 27, 2025, with net sales up 5.2% y/y to $16.4B and operating profit climbing 19.7% y/y to $190.1M, while gross profit rose 7.6% y/y amid case growth and procurement gains. Diluted EPS hit $0.39, up 44% y/y, matching 156.8M shares. Foodservice drove gains with 5.1% sales growth; Convenience and Specialty added momentum. Operating cash flow reached $456M YTD, funding $61M in small Foodservice buys, yet cash dipped to $41M with $5.3B debt and $2.6B ABL availability. Free cash flow not disclosed in the 10-Q. Cheney Brothers integration rolls on from last year. Intense competition pressures margins.
8-K
Q2 sales hit $16.4B
Performance Food Group posted Q2 fiscal 2026 net sales up 5.2% to $16.4 billion, with total case volume rising 3.4% and independent foodservice cases climbing 6.7%. Gross profit grew 7.6% to $2.0 billion, driving net income 45.5% higher to $61.7 million, yet adjusted diluted EPS held flat at $0.98. Cash flow surged. Guidance tightened slightly for full-year sales and Adjusted EBITDA.
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