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RICHMOND, Va. - Performance Food Group Company (NYSE:PFGC) reported third-quarter fiscal 2025 results that fell short of analyst expectations, while narrowing its full-year guidance range.
The foodservice distributor posted adjusted earnings per share of $0.79, missing the analyst consensus of $0.89. Revenue for the quarter came in at $15.31 billion, slightly below the estimated $15.35 billion but up 10.5% YoY.
PFG’s total case volume increased 10.0% in the quarter, with Independent (LON:IOG) Foodservice case volume surging 20.0%. Organic Independent Foodservice case volume grew 3.4%.
"While our fiscal third-quarter results were not as strong as we had anticipated, our Company is executing well, and we are making good progress integrating Cheney Brothers and José Santiago," said George Holm, PFG’s Chairman & Chief Executive Officer.
The company narrowed its full-year fiscal 2025 guidance, now expecting revenue between $63 billion and $63.5 billion, compared to the previous analyst consensus of $63.262 billion. PFG also tightened its Adjusted EBITDA forecast to a range of $1.725 billion to $1.75 billion, down from the previous upper end of $1.8 billion.
Despite the earnings miss, PFG’s net sales for the first nine months of fiscal 2025 increased 7.6% to $46.4 billion, with gross profit improving 12.1% to $5.4 billion.
Holm added, "There are signs that the consumer has remained resilient in the early weeks of our fiscal fourth quarter. As the result of a difficult February period, we are updating our full-year fiscal 2025 guidance and are confident in our fiscal fourth-quarter projections."
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