RICHMOND, Va. - Performance Food Group Company (NYSE: NYSE:PFGC) reported mixed first-quarter fiscal 2025 results on Monday (NASDAQ:MNDY), with revenue beating expectations but earnings falling short. The food distribution company's shares edged 0.8% higher in early trading following the release.
Performance Food Group posted adjusted earnings per share of $1.16 for the quarter ended September 28, missing analyst estimates of $1.22. However, revenue came in at $15.4 billion, surpassing the consensus forecast of $15.22 billion and representing a 3.2% increase year-over-year.
The company's total case volume rose 2.6% compared to the prior year period, with independent foodservice case volume jumping 7.8%. Organic independent foodservice case volume grew 4.3%.
"PFG had a strong start to fiscal 2025, closing the first quarter with solid sales momentum and adjusted EBITDA growth," said George Holm, PFG's Chairman & CEO. "Our core business has continued to perform exceptionally well, and we expect this trend to continue."
Adjusted EBITDA for the quarter increased 7.3% YoY to $411.9 million. The company's gross profit improved 6.1% to $1.8 billion, though net income decreased 10.5% to $108 million.
Looking ahead, Performance Food Group reaffirmed its full-year fiscal 2025 revenue guidance of $62.5 billion to $63.5 billion. For the second quarter, the company expects revenue between $15.2 billion and $15.6 billion.
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