Performance Food Group (NYSE: PFGC) reported Q2 EPS of $0.40, $0.05 better than the analyst estimate of $0.35. Revenue for the quarter came in at $4.3 billion versus the consensus estimate of $4.35 billion.

Second-Quarter Fiscal 2018 Highlights

• Total case volume grew 4.2%
• Net sales increased 6.4% to $4.3 billion
• Gross profit improved 9.7% to $567.6 million
• Net income was up 240.6% to $78.0 million
• Adjusted EBITDA grew 12.2% to $105.0 million1
• Diluted earnings per share (EPS) increased 240.9% to $0.75
• Adjusted Diluted EPS increased 37.9% to $0.401

First-Half Fiscal 2018 Highlights

• Total case volume increased 3.9%
• Net sales grew 7.1% to $8.7 billion
• Gross profit was up 9.1% to $1.1 billion
• Net income increased 186.6% to $100.6 million
• Adjusted EBITDA rose 15.4% to $195.7 million1
• Diluted EPS increased 182.4% to $0.96
• Adjusted Diluted EPS grew 36.7% to $0.671

Fiscal 2018 Outlook

For fiscal 2018, PFG reaffirms its Adjusted EBITDA growth to be in a range of 8% to 11% higher than its fiscal 2017 Adjusted EBITDA of $390.7 million. The Company continues to expect second-half Adjusted EBITDA growth to be in the high single digits. The Company also continues to expect to be at the higher end of the full-year Adjusted EBITDA range. Based on the Company’s strong first-half results and the U.S. tax reform changes, PFG increases its Adjusted Diluted EPS outlook representing growth in a range of 24% to 30% to $1.54 to $1.61 over its fiscal 2017 Adjusted Diluted EPS of $1.24. This compares to the Company’s prior Adjusted Diluted EPS growth of 13% to 18%.

For earnings history and earnings-related data on Performance Food Group (PFGC) click here.