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Performance Food Group (PFGC)
NYSE:PFGC
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.79Last Year’s EPS
0.79Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid operational and financial performance (5.2% sales growth, 6.7% adjusted EBITDA growth, 7.6% gross profit growth, strong convenience and foodservice share gains, and improved cash flow) while acknowledging meaningful near-term headwinds: higher-than-expected integration and operating costs from the Cheney acquisition, commodity deflation (cheese and poultry) hurting margins, a severe theater sales decline (~30%, ~$50M drag), and higher interest and tax expense. Management reaffirmed multi-year targets and procurement synergy opportunities, expects Cheney synergies to materialize in years two–three, and maintained a disciplined capital allocation stance. Overall, positive momentum and long-term thesis remain intact, but near-term profitability is pressured by integration, commodity, and weather-related factors.Company Guidance
Revenue Growth
Total net sales grew 5.2% year-over-year in Q2 FY2026, with full-year sales guidance updated to $67.25–$68.25 billion and three-year target of $73–$75 billion for FY2028.
Adjusted EBITDA and Profitability
Adjusted EBITDA increased 6.7% to $451 million in the quarter; full-year adjusted EBITDA guidance set at $1.875–$1.975 billion, supporting the company's three-year EBITDA target of $2.3–$2.5 billion.
Net Income and EPS
Net income rose 45.5% year-over-year to $61.7 million in Q2; diluted EPS was $0.39 and adjusted diluted EPS was $0.98 (flat year-over-year).
Gross Profit Improvement
Total company gross profit increased 7.6% in Q2, with gross profit per case rising by $0.20 versus the prior-year period.
Foodservice Organic Growth and Market Share Gains
Foodservice delivered 5.3% organic independent case growth and 5.8% independent account growth, with share gains across independent, regional, and national customers and strength in chicken, burger, barbecue and seafood concepts.
Convenience Segment Outperformance
Convenience net sales increased 6.1%; segment adjusted EBITDA grew 13.4% as Core Mark onboarded >500 Love stores and >600 Racetrack locations and benefited from market share gains and operating efficiencies.
Specialty Margin Expansion Outside Theaters
Despite theater weakness, specialty segment achieved nearly 7% adjusted EBITDA growth and ~40 basis points of margin expansion driven by productivity gains; non-theater channels grew high single to low double digits.
Strong Cash Flow and Deleveraging Progress
Operating cash flow for the first six months was $456 million (up $77 million YoY) and free cash flow was ~$264 million (up nearly $89 million YoY); CapEx of ~$192 million in first six months and priority remains on debt reduction.
M&A Pipeline and Long-Term Synergy Targets
Management reiterates a robust M&A pipeline and confidence in capturing $100–$125 million of procurement synergies over the three-year plan; Cheney (Channing) acquisition expected to deliver majority of synergies in years two–three.
PFGC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PFGC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 04, 2026 | $97.09 | $89.86 | -7.45% |
Nov 05, 2025 | $96.65 | $95.50 | -1.19% |
Aug 13, 2025 | $98.36 | $101.27 | +2.96% |
May 07, 2025 | $81.08 | $82.92 | +2.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Performance Food Group (PFGC) report earnings?
Performance Food Group (PFGC) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is Performance Food Group (PFGC) earnings time?
Performance Food Group (PFGC) earnings time is at May 13, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PFGC EPS forecast?
PFGC EPS forecast for the fiscal quarter 2026 (Q3) is 0.79.