Performance Food Group (PFGC) Tops Q1 EPS by 11c, Revenues Beat
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Performance Food Group (NYSE: PFGC) reported Q1 EPS of $0.25, $0.11 better than the analyst estimate of $0.14. Revenue for the quarter came in at $7.05 billion versus the consensus estimate of $6.99 billion.
First-Quarter Fiscal 2021 Highlights
- Total case volume grew 8.9%
- Net sales increased 12.9% to $7.0 billion
- Gross profit improved 14.6% to $815.5 million
- Net loss of $0.7 million
- Adjusted EBITDA increased 5.9% to $135.2 million1
- Diluted loss per share of $0.01
- Adjusted Diluted earnings per share (“EPS”) declined 56.1% to $0.251
“I am very pleased with our first-quarter results as the organization continues to take market share and prove its resiliency,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “Our Foodservice segment once again outperformed the industry, particularly in the independent restaurant channel. The integration of Reinhart has progressed smoothly and Vistar, despite its exposure to some of the hardest hit channels, has remained profitable due to strength in the convenience store channel. Our associates are engaged and winning new business every day, solidifying our position in the food distribution industry. Our organization has done an outstanding job managing costs and the balance sheet to put us in a strong financial position for the current operating environment.”
For earnings history and earnings-related data on Performance Food Group (PFGC) click here.
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