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Performance Food pany(PFGC) - 2023 Q2 - Quarterly Report
2023-02-08 21:44
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ___________ Commission File Number 001-37578 (IRS employer Performance Food Group Company (Exact name of registrant as specified in its charter) Delaware 4 ...
Performance Food pany(PFGC) - 2023 Q1 - Quarterly Report
2022-11-09 21:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-37578 Performance Food Group Company (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 12500 Wes ...
Performance Food pany(PFGC) - 2023 Q1 - Earnings Call Transcript
2022-11-09 18:40
Performance Food Group Company (NYSE:PFGC) Q1 2023 Results Conference Call November 9, 2022 9:00 AM ET Company Participants Bill Marshall - Vice President, Investor Relations George Holm - CEO Jim Hope - CFO Patrick Hatcher - Vistar, President and COO Conference Call Participants Edward Kelly - Wells Fargo John Heinbockel - Guggenheim Partners Brian Harbour - Morgan Stanley Mark Carden - UBS Jeffrey Bernstein - Barclays Andrew Wolf - CL King Lauren Silberman - Credit Suisse Kelly Bania - BMO Capital Markets ...
Performance Food pany(PFGC) - 2022 Q4 - Annual Report
2022-08-19 20:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended July 2, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37578 Performance Food Group Company Delaware 43-1983182 (State or other jurisdiction of incorporation or organization) (IRS employer identif ...
Performance Food pany(PFGC) - 2022 Q4 - Earnings Call Transcript
2022-08-17 17:12
Performance Food Group Company (NYSE:PFGC) Q4 2022 Earnings Conference Call August 17, 2022 9:00 AM ET Company Participants Bill Marshall - Vice President, Investor Relations George Holm - Chief Executive Officer Jim Hope - Chief Financial Officer Patrick Hatcher - President and Chief Operating Officer, Vistar Conference Call Participants Edward Kelly - Wells Fargo Alex Slagle - Jefferies Jake Bartlett - Truist Securities Mark Carden - UBS John Heinbockel - Guggenheim Partners John Glass - Morgan Stanley Fr ...
Performance Food pany(PFGC) - 2022 Q3 - Quarterly Report
2022-05-11 20:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 2, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ___________ Commission File Number 001-37578 Performance Food Group Company (Exact name of registrant as specified in its charter) (State or other jurisdiction ...
Performance Food pany(PFGC) - 2022 Q3 - Earnings Call Transcript
2022-05-11 18:11
Performance Food Group Company (NYSE:PFGC) Q3 2022 Earnings Conference Call May 11, 2022 9:00 AM ET Company Participants George L. Holm – Chairman and Chief Executive Officer James Hope – Executive Vice President and Chief Financial Officer Bill Marshall – Vice President of Investor Relations Conference Call Participants Alex Slagle – Jefferies Financial Group Inc. Jake Bartlett – Truist Securities John Heinbockel – Guggenheim Partners Edward Kelly – Wells Fargo & Company Mark Carden – UBS Securities John G ...
Performance Food pany(PFGC) - 2022 Q2 - Quarterly Report
2022-02-09 21:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 1, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37578 Performance Food Group Company (Exact name of registrant as specified in its charter) Delaware 43-1983182 (State or other ju ...
Performance Food pany(PFGC) - 2022 Q2 - Earnings Call Transcript
2022-02-09 19:12
Financial Data and Key Metrics Changes - Total net sales increased by 87.6% to $12.8 billion in Q2 2022, driven by Core-Mark's full quarter sales results and inflation-driven pricing [26] - Total case volume increased approximately 40% in Q2 2022, with a 15.5% increase excluding Core-Mark's contribution [26] - Gross profit increased by 57.7% compared to the prior year quarter, with Core-Mark contributing $245.2 million to gross profit [27] - Adjusted EBITDA increased by 52.6% to $241.1 million, with diluted earnings per share at $0.05 and adjusted diluted earnings per share at $0.57, a 62.9% year-over-year increase [31][32] Business Line Data and Key Metrics Changes - The company has realigned its reporting segments into three: Foodservice, Convenience, and Vistar, to better reflect its strategic vision [9] - Independent cases increased by 21% in Q2 2022, showing solid momentum in the independent business [27] - The Foodservice segment continues to drive overall segment results, with market share gains in the independent channel accelerating sequentially [16] Market Data and Key Metrics Changes - Vistar's channels, particularly retail, corrections, and travel, experienced net sales above 2020 levels, although theater and office coffee channels are still recovering [18] - The company reported strong performance in independent restaurants, particularly in pizza, Italian, Hispanic, and seafood concepts [16] Company Strategy and Development Direction - The company aims to transform from a traditional Foodservice distributor to a leader across various channels and product offerings, enhancing speed and agility in capturing new business [7] - The integration of Core-Mark and Eby-Brown is progressing well, with expectations of significant value creation from these acquisitions [11] - The company is focused on maintaining a lean organization to grow EBITDA faster than sales and expand margins, while reinvesting profits for sustained organic growth and opportunistic M&A [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the labor situation improving by the end of the fiscal year, with expectations of better productivity from full-time workers [30] - The company anticipates third-quarter net sales in the range of $12.9 billion to $13.1 billion and adjusted EBITDA between $220 million and $230 million [33] - The company is increasing its full-year outlook for net sales to $50 billion to $51 billion, reflecting better business trends [33] Other Important Information - The company ended the quarter with $2.3 billion in total liquidity, reflecting the acquisition of Merchants [23] - Food cost inflation was about 12.5%, with double-digit increases in Foodservice commodities [28] Q&A Session Summary Question: Expectations on structural wage pressures - Management does not expect structural wage pressures to be steeper than previously anticipated, focusing on training and productivity improvements [39] Question: Impact of Omicron on business - Omicron had a significant impact on absenteeism but recovery was quicker than before, with a good performance in January [40] Question: Trends in Foodservice sales within Convenience - There has been a surge in Foodservice business within Convenience, with notable increases in non-tobacco sales [44] Question: Labor cost inflation concerns - Management believes labor inflation is manageable and has absorbed most of the increases, focusing on recruitment and retention [52] Question: Current fill rates and industry challenges - Inbound fill rates are improving, particularly in Foodservice, while challenges remain in Convenience and Vistar [53] Question: Market share gains and growth opportunities - The company has gained market share primarily in the independent segment, with a focus on growing that area further [60] Question: Pricing power and inflation management - The company has successfully passed on inflation costs in the independent area, while facing challenges in the chain business [75] Question: Technology and digital investments - The company is evaluating its technology and digital sales tools, considering future investments in these areas [104]
Performance Food pany(PFGC) - 2022 Q1 - Quarterly Report
2021-11-10 22:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 2, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37578 Performance Food Group Company (Exact name of registrant as specified in its charter) Delaware 43-1983182 (State or other ju ...