Exhibit 99.1 NEWS RELEASE For Immediate Release Investors: Media: William S. Marshall Scott Golden (804) 287-8108 (804) 484-7873 Bill.Marshall@pfgc.com Scott.Golden@pfgc.com SVP, Investor Relations Director, Communications & Engagement Performance Food Group Company Reports Third-Quarter and First-Nine Months Fiscal 2025 Results Strong Sales Momentum; Updates Full-Year Financial Guidance Third-Quarter Fiscal 2025 Highlights First-Nine Months Fiscal 2025 Highlights RICHMOND, Va. – May 7, 2025 – Performance F ...

Financial Performance - Net sales for the three months ended December 28, 2024, increased by 9.4% to $15,638.2 million compared to $14,295.7 million for the same period in 2023[109] - Gross profit for the three months ended December 28, 2024, rose by 14.4% to $1,827.8 million, up from $1,598.1 million in the prior year[109] - Adjusted EBITDA for the three months ended December 28, 2024, increased by 22.5% to $423.0 million, compared to $345.4 million for the same period in 2023[109] - For the six months ended December 28, 2024, net sales increased by 6.2% to $31,053.7 million compared to $29,234.3 million in the same period in 2023[109] - Net sales increased by $1,342.5 million, or 9.4%, for the second quarter of fiscal 2025 compared to the same period in fiscal 2024[111] - Total case volume increased by 9.8% in the second quarter of fiscal 2025 and 6.1% in the first six months compared to the same periods in fiscal 2024[112] - Gross profit rose by $229.7 million, or 14.4%, for the second quarter of fiscal 2025 compared to the second quarter of fiscal 2024[113] - Total Adjusted EBITDA for the second quarter of fiscal 2025 was $423.0 million, an increase of $77.6 million, or 22.5%, compared to the second quarter of fiscal 2024[121] Operating Expenses - Operating expenses for the three months ended December 28, 2024, increased by 17.2% to $1,669.0 million, compared to $1,424.2 million in the prior year[109] - Operating expenses increased by $244.8 million, or 17.2%, for the second quarter of fiscal 2025 compared to the same period in fiscal 2024[114] - Operating expenses for Foodservice rose by $157.0 million, or 20.8%, from Q2 FY2024 to Q2 FY2025, primarily due to recent acquisitions and a $38.0 million increase in personnel expenses[124] Net Income and Tax - Net income (GAAP) for the three months ended December 28, 2024, decreased by 45.8% to $42.4 million, down from $78.3 million in the same period last year[109] - The company reported a decrease in income before income taxes by 49.2% to $56.7 million for the three months ended December 28, 2024[109] - Net income decreased by $35.9 million, or 45.8%, for the second quarter of fiscal 2025 compared to the second quarter of fiscal 2024[117] - The effective tax rate for the second quarter of fiscal 2025 was 25.2%, down from 29.9% in the same period of fiscal 2024[118] Acquisitions - The company acquired Cheney Bros., Inc. on October 8, 2024, enhancing its Foodservice operations in the Southeastern United States[96] - The acquisition of Cheney Brothers contributed $825.0 million to net sales in the second quarter of fiscal 2025[122] - The increase in variable-rate debt is attributed to the Cheney Brothers acquisition[180] Cash Flow and Investments - Cash balance as of December 28, 2024, totaled $18.7 million, down from $27.7 million as of June 29, 2024[146] - Operating activities provided cash flow of $379.0 million in the first six months of FY2025, a decrease from $554.0 million in FY2024, largely due to advanced inventory purchases[147] - Cash used in investing activities totaled $2,736.7 million in the first six months of fiscal 2025, a significant increase from $436.4 million in the same period of fiscal 2024[148] - Acquisitions accounted for $2,535.5 million of the investing activities in the first six months of fiscal 2025, compared to $308.1 million in fiscal 2024[148] - Capital purchases of property, plant, and equipment were $203.9 million in the first six months of fiscal 2025, up from $147.1 million in fiscal 2024[149] Debt and Financing - Aggregate borrowings as of December 28, 2024, were $2,660.7 million, with an average interest rate of 6.05%[155] - The ABL Facility increased total revolving commitments from $4.0 billion to $5.0 billion and extended the maturity date to September 9, 2029[152] - The proceeds from the Notes due 2032, totaling $1.0 billion, were initially intended for the acquisition of Cheney Brothers but were used to pay down a portion of the ABL Facility[167] - The Notes due 2027 and 2029 were issued at 100.0% of their par value, with interest rates of 5.500% and 4.250%, respectively[157][161] - The ABL Facility contains covenants requiring maintenance of a minimum consolidated fixed charge coverage ratio if Alternate Availability falls below $375.0 million[156] - The Company may redeem the Notes due 2032 at a redemption price equal to 100% of the principal amount redeemed plus accrued interest, with specific conditions for early redemption[169] - As of December 28, 2024, the restricted payment capacity available under debt agreements is approximately $1,428.4 million[171] Assets and Market Risks - Total assets for the Foodservice segment increased by $3,961.2 million from $6,582.5 million as of December 30, 2023, to $10,543.7 million as of December 28, 2024, primarily due to recent acquisitions[174] - Total assets for the Vistar segment increased by $131.6 million from $1,434.9 million as of December 30, 2023, to $1,566.5 million as of December 28, 2024, driven by advanced purchases of products and warehouse expansion[175] - Total assets for the Convenience segment increased by $96.5 million from $4,085.7 million as of December 30, 2023, to $4,182.2 million as of December 28, 2024, due to advanced purchases of tobacco products and new warehouse facilities[177] - The company is in compliance with all covenants under the ABL Facility and the indentures governing the Notes due 2027, 2029, and 2032 as of December 28, 2024[172] - Approximately $150.0 million of the company's outstanding long-term debt is fixed through interest rate swap agreements, while approximately $2.5 billion represents variable-rate debt[181] - A hypothetical 100 bps increase in SOFR on the variable-rate debt would lead to an increase of approximately $25.1 million in annual interest expense[181] - The company’s market risks consist of interest rate risk and fuel price risk, with no material changes since June 29, 2024[180] Accounting Policies - There have been no material changes to the company's critical accounting policies and estimates compared to those described in the Form 10-K[179]

Financial Data and Key Metrics Changes - Total net sales grew by 9.4% in the fiscal second quarter, aided by acquisitions of Jose Santiago and Cheney Brothers, with organic independent cases up 5% [44][45][51] - Adjusted EBITDA increased by 22.5% to $423 million, exceeding guidance [51][52] - Diluted earnings per share was $0.27, while adjusted diluted earnings per share improved by 8.9% year-over-year to $0.98 [52] Business Line Data and Key Metrics Changes - Foodservice segment saw strong performance with organic independent case growth of 5%, driven by new account growth and improved margins [30][34] - Convenience segment experienced mid-single-digit growth in foodservice cases, with adjusted EBITDA at 28.5% [36][50] - Vistar segment reported low single-digit case increases, with growth in office coffee services and theater channels [39][40] Market Data and Key Metrics Changes - Organic independent restaurant case volume grew by 5% in the second quarter, up from 4.3% in the first quarter [9][10] - Vistar's total cases grew by 1.4% in the fiscal second quarter, with positive growth in vending and office coffee services [11][39] - Convenience business showed resilience despite industry challenges, with foodservice cases increasing at a mid-single-digit pace [36][50] Company Strategy and Development Direction - The company is focused on targeted acquisitions to drive growth, with successful integration of Jose Santiago and Cheney Brothers [6][15] - A diversification strategy across the food away from home market is emphasized, providing long-term growth opportunities [18] - Continued investment in sales force hiring, with a nearly 7% increase in headcount, is aimed at driving organic growth [34][150] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the second half of fiscal 2025, anticipating a rebound in independent case growth [10][46] - Challenges in the Vistar segment are acknowledged, but improvements are expected in the latter half of the fiscal year [50][70] - The company is monitoring inflationary pressures, with total company cost inflation at 4.6% for the second quarter [47][101] Other Important Information - The company plans to prioritize debt reduction in the short term while maintaining a robust M&A pipeline [57][138] - Capital expenditures are expected to remain steady at approximately $100 million per quarter, with additional investments for growth projects at Cheney Brothers and Jose Santiago [54][56] - The effective tax rate for the second quarter was 25.2%, with expectations for a higher rate in the latter half of the fiscal year [52] Q&A Session Summary Question: Which segments are contributing to the higher sales outlook? - Management noted broad-based growth across all three segments, with independent growth being particularly strong [64][66] Question: Can you elaborate on cost of goods optimization? - Management confirmed that cost of goods optimization has been a focus, with collaborative efforts across segments driving improvements [70][72] Question: Thoughts on underlying momentum in the food service business? - Management indicated that underlying EBITDA growth is strong, with expectations for continued improvement in the second half of the year [75][76] Question: What is the inflation outlook? - Management expects inflation to remain manageable, with foodservice inflation projected in the low to mid-single digits [101][102] Question: How is Cheney Brothers performing post-acquisition? - Cheney Brothers is performing exceptionally well, with aggressive hiring and strong sales growth despite challenges [121][122] Question: What is the current leverage level? - Current leverage is in the high threes, with plans to reduce it back within the target range of 2.5 to 3.5 times [141][136]

Core Insights - Performance Food Group (PFGC) reported revenue of $15.64 billion for the quarter ended December 2024, marking a year-over-year increase of 9.4% [1] - The earnings per share (EPS) for the same period was $0.98, compared to $0.90 a year ago, although it fell short of the consensus estimate of $1.03 by 4.85% [1] - The reported revenue exceeded the Zacks Consensus Estimate of $15.52 billion by 0.78% [1] Revenue Breakdown - Convenience revenue reached $5.97 billion, slightly above the estimated $5.96 billion [4] - Foodservice revenue was $8.37 billion, surpassing the average estimate of $8.24 billion [4] - Eliminations revenue was reported at -$172.40 million, compared to the estimated -$164.36 million [4] - Corporate & All Other revenue was $240.20 million, close to the average estimate of $241.28 million [4] - Vistar revenue was $1.23 billion, slightly below the average estimate of $1.24 billion [4] Stock Performance - Shares of Performance Food have returned +6.9% over the past month, outperforming the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Group 1: Earnings Performance - Performance Food Group (PFGC) reported quarterly earnings of $0.98 per share, missing the Zacks Consensus Estimate of $1.03 per share, but showing an increase from $0.90 per share a year ago, resulting in an earnings surprise of -4.85% [1] - Over the last four quarters, the company has surpassed consensus EPS estimates only once, with revenues of $15.64 billion for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 0.78% compared to $14.3 billion a year ago [2] Group 2: Stock Performance and Outlook - Performance Food shares have increased approximately 7.2% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] Group 3: Estimate Revisions and Industry Ranking - The estimate revisions trend for Performance Food is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.91 on revenues of $15.24 billion, and for the current fiscal year, it is $4.74 on revenues of $62.87 billion [7] - The Food - Natural Foods Products industry is ranked in the top 21% of over 250 Zacks industries, suggesting that stocks in the top 50% of Zacks-ranked industries outperform those in the bottom 50% by more than 2 to 1 [8]

Financial Performance - Net sales for Q2 FY2025 grew 9.4% to $15.6 billion, driven by acquisitions and inflation-related price increases[8]. - Adjusted EBITDA for Q2 FY2025 increased 22.5% to $423.0 million, reflecting strong operational performance[12]. - Net income for Q2 FY2025 decreased 45.8% to $42.4 million, primarily due to increased interest expenses[11]. - For the first six months of FY2025, net sales rose 6.2% to $31.1 billion, supported by recent acquisitions and case volume growth[14]. - Full FY2025 net sales outlook increased to approximately $63 billion to $64 billion, up from the previous estimate[28]. - Adjusted Diluted EPS for Q2 FY2025 increased 8.9% to $0.98 per share, while diluted EPS decreased 46.0% to $0.27 per share[12]. - Gross profit for the six months ended December 28, 2024, was $3,592.0 million, up 10.1% from $3,261.0 million for the same period in 2023[37]. - Operating profit for the three months ended December 28, 2024, was $158.8 million, a decrease of 8.5% from $173.9 million for the same period in 2023[37]. - Net income for the six months ended December 28, 2024, was $150.4 million, down 24.4% from $199.0 million for the same period in 2023[39]. - Adjusted EBITDA for the six months ended December 28, 2024, was $834.9 million, representing a 14.5% increase from $729.2 million in the prior year[49]. - Total Adjusted EBITDA for the three months ended December 28, 2024, increased by $77.6 million, or 22.5%, to $423.0 million compared to the same period in 2023[54]. - Total Adjusted EBITDA for the six months ended December 28, 2024, rose by $105.7 million, or 14.5%, to $834.9 million compared to the same period in 2023[54]. Cash Flow and Debt - Operating cash flow for the first six months of FY2025 was $379.0 million, down from $554.0 million in the prior year[19]. - Free cash flow for the first six months of FY2025 was $175.1 million, compared to $406.9 million in the prior year[20]. - Cash and restricted cash decreased to $18.7 million as of December 28, 2024, from $27.7 million as of June 29, 2024[39]. - Interest expense for the six months ended December 28, 2024, increased to $167.0 million, a 42.1% rise from $117.5 million in the previous year[49]. - Cash paid for interest during the year was $146.3 million for the six months ended December 28, 2024, compared to $122.3 million in the previous year[40]. - Long-term debt rose to $5,691.2 million as of December 28, 2024, up from $3,198.5 million as of June 29, 2024[38]. - Income tax payments net of refunds for the six months ended December 28, 2024, were $84.1 million, down from $109.0 million in the same period of 2023[40]. Segment Performance - Foodservice segment net sales rose by $1,289.0 million, or 18.2%, reaching $8,368.3 million for the three months ended December 28, 2024[53]. - Convenience segment net sales showed a slight increase of $26.1 million, or 0.4%, reaching $5,967.5 million for the three months ended December 28, 2024[53]. - Vistar segment net sales increased by $32.7 million, or 2.7%, totaling $1,234.6 million for the three months ended December 28, 2024[53]. - Corporate & All Other segment reported a net sales increase of $12.5 million, or 5.5%, reaching $240.2 million for the three months ended December 28, 2024[53]. - Corporate & All Other segment Adjusted EBITDA decreased by $12.3 million, or 22.0%, totaling $(68.1) million for the three months ended December 28, 2024[54]. - Segment Adjusted EBITDA is used to evaluate the performance of the three reportable segments: Foodservice, Vistar, and Convenience[52]. Acquisitions and Risks - The acquisition of Cheney Bros., Inc. is expected to enhance the company's market position, although there are risks associated with integration and realization of anticipated synergies[34]. - The company faces various risks including economic downturns, reliance on third-party suppliers, and intense competition in the foodservice distribution industry[34]. - Acquisition, integration, and reorganization expenses for the six months ended December 28, 2024, were $70.4 million, a significant increase from $13.7 million in the prior year[49]. Asset Management - Total assets increased to $17,097.0 million as of December 28, 2024, compared to $13,392.9 million as of June 29, 2024[38]. - Depreciation for the six months ended December 28, 2024, was $211.5 million, an increase of 24.3% from $170.1 million in the previous year[49].

Core Viewpoint - The article compares Performance Food Group (PFGC) and Sprouts Farmers (SFM) to determine which stock is more attractive to value investors [1] Valuation Metrics - PFGC has a forward P/E ratio of 18.75, while SFM has a forward P/E of 34.85 [5] - PFGC's PEG ratio is 0.96, indicating better expected EPS growth relative to its price, whereas SFM's PEG ratio is 1.94 [5] - PFGC has a P/B ratio of 3.29, compared to SFM's P/B of 10.92, suggesting PFGC is more undervalued based on book value [6] Zacks Rank and Style Scores - PFGC currently holds a Zacks Rank of 2 (Buy), while SFM has a Zacks Rank of 3 (Hold), indicating a stronger earnings outlook for PFGC [3] - PFGC's Value grade is B, while SFM's Value grade is C, further supporting PFGC as the more favorable option for value investors [6]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher," contrasting with traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investing can be risky as stocks may lose momentum when their valuations exceed future growth potential [1] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, identified through the Zacks Momentum Style Score [2] Group 2: Performance Food Group (PFGC) Analysis - PFGC has shown a price increase of 4.5% over the past four weeks, indicating growing investor interest [3] - The stock gained 9.9% over the past 12 weeks, demonstrating its ability to deliver positive returns over a longer timeframe [4] - PFGC has a beta of 1.43, suggesting it moves 43% higher than the market in either direction, indicating fast-paced momentum [4] - PFGC has a Momentum Score of B, suggesting it is an opportune time to invest in the stock [5] - The stock has a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which attract more investors [6] - PFGC is trading at a Price-to-Sales ratio of 0.24, indicating it is relatively cheap at 24 cents for each dollar of sales [6] Group 3: Investment Opportunities - PFGC appears to have significant potential for growth at a fast pace, alongside other stocks that meet the 'Fast-Paced Momentum at a Bargain' criteria [7] - There are over 45 Zacks Premium Screens available to help identify winning stock picks based on various investing styles [8]

Core Viewpoint - The article compares Performance Food Group (PFGC) and Sprouts Farmers (SFM) to determine which stock is more attractive to value investors [1] Group 1: Zacks Rank and Earnings Outlook - Both PFGC and SFM currently hold a Zacks Rank of 2 (Buy), indicating an improving earnings outlook due to positive analyst estimate revisions [3] - The Zacks Rank is a strategy that targets companies with favorable earnings estimate trends, which is beneficial for value investors [2] Group 2: Valuation Metrics - PFGC has a forward P/E ratio of 18.10, while SFM has a higher forward P/E of 33.30, suggesting PFGC may be undervalued [5] - PFGC's PEG ratio is 0.92, indicating a better valuation relative to its expected earnings growth compared to SFM's PEG ratio of 1.85 [5] - PFGC's P/B ratio is 3.18, significantly lower than SFM's P/B ratio of 10.44, further supporting PFGC's superior valuation [6] Group 3: Value Grades - PFGC has a Value grade of A, while SFM has a Value grade of C, indicating that PFGC is currently viewed as the better value option based on these metrics [6]

Core Insights - Performance Food Group (PFGC) reported revenue of $15.42 billion for the quarter ended September 2024, reflecting a year-over-year increase of 3.2% [1] - The earnings per share (EPS) for the quarter was $1.16, slightly up from $1.15 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate by 0.68%, while the EPS fell short of the consensus estimate by 4.13% [1] Revenue Breakdown - Revenue from Convenience was $6.36 billion, matching the average estimate from analysts [3] - Revenue from Foodservice reached $7.69 billion, surpassing the average estimate of $7.58 billion [3] - Revenue from Eliminations was reported at -$182.10 million, which was below the average estimate of -$168.19 million [3] - Corporate & All Other revenue was $256.10 million, slightly above the average estimate of $251.73 million [3] - Revenue from Vistar was $1.29 billion, exceeding the average estimate of $1.25 billion [3] Stock Performance - Performance Food's shares have returned +5% over the past month, outperforming the Zacks S&P 500 composite, which saw a +0.7% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]