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RICHMOND, Va. -On Wednesday, Performance Food Group Company (NYSE:PFGC) reported better-than-expected revenue for its fiscal second quarter, sending shares up 2.20% as investors cheered the strong sales growth.
The foodservice distributor posted revenue of $15.64 billion for the quarter ended December 28, 2024, surpassing analyst estimates of $15.45 billion. Sales increased 9.4% compared to $14.30 billion in the same quarter last year.
However, adjusted earnings per share came in at $0.98, missing the consensus forecast of $1.06.
"Our solid business performance continued through the fiscal second quarter, resulting in strong sales and Adjusted EBITDA growth, exceeding the upper end of our guidance on both measures," said George Holm, PFG’s Chairman & Chief Executive Officer.
Total (EPA:TTEF) case volume rose 9.8% year-over-year, driven by a 19.8% jump in independent restaurant case volume. Organic independent case volume increased 5.0%.
The company’s Foodservice segment saw net sales climb 18.2% to $8.37 billion, boosted by recent acquisitions and case volume growth.
For fiscal 2025, PFG raised its revenue outlook to a range of $63 billion to $64 billion, up from its prior forecast of $62.5 billion to $63.5 billion.
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