- Performance Food’s 3Q adjusted EPS came in lower than estimated, at 80c compared to the expected 84c.
- Net sales were slightly up from last year at $13.86 billion, but short of the estimated $14.18 billion.
- Foodservice generated sales of $7.02 billion, slightly up from last year, but did not meet the expected $7.17 billion.
- Vistar drove sales of $1.13 billion, a 1.7% increase year on year, though it fell short of the $1.19 billion estimate.
- Convenience sales fell 0.7% year on year to $5.64 billion, below the estimated $5.81 billion.
- The gross profit was higher than expected, amounting to $1.57 billion, up 3.8% against the forecasted $1.55 billion.
- Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) was $320.7 million, a 1.9% increase year on year, but still under the $325.1 million estimation.
- Vistar’s adjusted Ebitda was at $72.9 million.
- Convenience’s adjusted Ebitda was lower than expected at $70.9 million, below the $76.7 million estimate.
- Foodservice delivered an adjusted Ebitda of $219.3 million, a 0.3% decrease from previous year, missing the estimated $236 million.
- For future investments, there were 12 buy ratings, 2 holds and 0 sell ratings recorded.
Performance Food Group Co on Smartkarma
Performance Food Group Co has been receiving positive coverage from analysts on Smartkarma, an independent investment research network. Baptista Research recently published two reports on the company. In the report titled “Performance Food Group: Emergence of E-commerce & 5 Major Drivers Propelling The Company – Financial Forecasts,” PFG’s Q2 2024 earnings call highlighted strong results, with total net sales reaching $14.3 billion, a 2.9% increase from the previous year. The company’s sales performance was driven by a 2.1% rise in total case volume growth, particularly from independent restaurant case growth.
Furthermore, Baptista Research‘s report “Performance Food Group Company: Initiation of Coverage – Revolutionizing Convenience Foodservice” noted that PFG delivered strong financial results in its fiscal first quarter 2024, surpassing adjusted EBITDA expectations despite macroeconomic challenges. The coverage reflects a bullish sentiment towards Performance Food Group Co, highlighting the company’s resilience and growth potential in the foodservice industry.
A look at Performance Food Group Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 1 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Performance Food Group Company, a leading distributor of food and food-related products in the United States, shows a promising long-term outlook based on the Smartkarma Smart Scores. With a strong Growth score of 5, the company is positioned for significant expansion and development in the future. Additionally, its Momentum score of 4 indicates positive market momentum, suggesting a favorable trend in stock performance.
Although the Dividend and Resilience scores are lower at 1 and 2 respectively, the company’s Value score of 3 reflects a balanced valuation in relation to its peers. Overall, Performance Food Group Co‘s Smartkarma Smart Scores highlight a bright future ahead, particularly in terms of growth potential and market momentum.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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