Performance Food Group Posts 5.5% Sales Growth as Independent Case Volume Rises

Performance Food Group reported first-quarter fiscal 2027 results on Nov. 4, posting net sales of $18.0 billion, up 5.5% from the prior year, as total case volume grew 4.2% and independent Foodservice case volume rose 7.8%. Gross profit improved 8.5% to $2.2 billion, which the Richmond, Virginia-based distributor attributed to vendor rebates and promotional incentives, a favorable mix shift toward the higher-service independent channel, and recent acquisitions. Net income increased 38.4% to $129.5 million, adjusted EBITDA rose 10.0% to $528.0 million, and diluted earnings per share climbed 36.7% to $0.82. Foodservice segment net sales were $9.6 billion, up 5.0%. Independent sales grew to 43.0% of total Foodservice sales from 41.6% a year earlier. Overall product cost inflation ran approximately 3.4% for the quarter, and operating expenses rose 6.9% to $1.9 billion on acquisitions, personnel costs and higher fuel expense. "We started fiscal 2027 with solid momentum, delivering strong first-quarter sales and profit growth," said Scott McPherson, PFG's president and chief executive officer. "We recognize the macroeconomic environment remains challenging, but I am confident in our ability to continue gaining market share." For vending and micro market operators, the results describe the supply side of the business: steady independent-channel demand keeps broadline distributors focused on smaller accounts, while 3.4% product cost inflation continues to squeeze the spread between case cost and machine price. Source: Business Wire (Performance Food Group) — https://www.stocktitan.net/news/PFGC/performance-food-group-company-reports-first-quarter-fiscal-2027-b3z1a8qup43b.html