Performance Food Group stock climbs 4% as Q4 earnings top estimates

NEW YORK - Performance Food Group Company (NYSE: NYSE:PFGC ) shares jumped 4.6% after the foodservice distributor reported better-than-expected fourth quarter earnings.

The company posted adjusted earnings per share of $1.45 for Q4, surpassing analyst estimates of $1.37. Revenue came in at $15.2 billion, slightly below the consensus forecast of $15.26 billion but up 2.2% YoY.

"PFG had a strong finish to fiscal 2024, showing an acceleration in sales, adjusted EBITDA and Earnings Per Share growth in the fiscal fourth quarter," said George Holm, PFG's Chairman & CEO.

For Q1 fiscal 2025, PFG expects revenue between $15.2-$15.5 billion. The company forecasts full-year fiscal 2025 revenue of $60-$61 billion, in line with analyst projections of $60.8 billion.

Total case volume increased 1.1% in Q4, with organic independent case volume rising 3.7%. Gross profit improved 4.7% to $1.7 billion.

The company also announced plans to acquire Cheney Bros., Inc. for approximately $2.1 billion, expanding its footprint in the Southeastern U.S.

PFG expects to accelerate share repurchases in fiscal 2025, with $210.6 million remaining under its current buyback authorization as of June 29.

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Source: Investing.com