PFGC

EX-99.1

2 pfgc-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

NEWS RELEASE

For Immediate Release

Investors:

Media:

William S. Marshall

Scott Golden

SVP, Investor Relations

Director, Communications & Engagement

(804) 287-8108

(804) 484-7873

Bill.Marshall@pfgc.com

Scott.Golden@pfgc.com

Performance Food Group Company Reports First-Quarter Fiscal 2027 Results

Strong Case Volume, Net Sales and Profit Growth; Reiterates Full-Year Fiscal 2027 Financial Guidance

First-Quarter Fiscal 2027 Highlights

• Total case volume increased 4.2%

• Total independent Foodservice case volume increased 7.8%

• Organic independent Foodservice case volume increased 5.5%

• Net sales increased 5.5% to $18.0 billion

• Gross profit improved 8.5% to $2.2 billion

• Net income increased 38.4% to $129.5 million

• Adjusted EBITDA(1) increased 10.0% to $528.0 million

• Diluted Earnings Per Share (“EPS”) increased 36.7% to $0.82

• Adjusted Diluted EPS(1) increased 11.9% to $1.32

RICHMOND, Va. – November 4, 2026 – Performance Food Group Company (“PFG” or the “Company”) (NYSE: PFGC) today announced its first-quarter fiscal 2027 business results.

“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. “Continued market share gains across our businesses drove strong case volume and revenue performance in the quarter. Our team’s execution on several key efficiency initiatives improved our profitability, driving gross margin expansion and double-digit Adjusted EBITDA and EPS growth in the quarter. We recognize the macroeconomic environment remains challenging, but I am confident in our ability to continue gaining market share, execute our strategic priorities and deliver strong results through the remainder of fiscal 2027.”

First-Quarter Fiscal 2027 Financial Summary

Total case volume increased 4.2% for the first quarter of fiscal 2027 compared to the prior year period. Total organic case volume increased 2.5% for the first quarter of fiscal 2027 compared to the prior year period, benefiting from a 5.5% increase in organic independent Foodservice cases, including growth in Performance Brands cases. Total independent Foodservice case volume increased 7.8%.

Net sales for the first quarter of fiscal 2027 grew 5.5% compared to the prior year period to $18.0 billion primarily driven by an increase in organic cases sold, incremental sales from recent acquisitions, and an increase in selling price per case as a result of inflation. Overall product cost inflation for the Company was approximately 3.4% for the first quarter of fiscal 2027.

(1) This earnings release includes several metrics, including Adjusted EBITDA, Adjusted Diluted Earnings Per Share, and Free Cash Flow, that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”). Please see “Statement Regarding Non-GAAP Financial Measures” at the end of this release for the definitions of such non-GAAP financial measures and reconciliations of such non-GAAP financial measures to their respective most comparable financial measures calculated in accordance with GAAP.

Gross profit for the first quarter of fiscal 2027 grew 8.5% compared to the prior year period to $2.2 billion primarily driven by vendor rebates and promotional incentives, a favorable shift in the mix of cases sold, including growth in the independent channel which generates higher gross profit due to additional services provided, as well as recent acquisitions.

Operating expenses rose 6.9% to $1.9 billion in the first quarter of fiscal 2027 compared to the prior year period primarily driven by recent acquisitions, an increase in personnel expenses related to salaries, wages, commissions and benefits, and an increase in fuel expenses (excluding the impact of fuel surcharges in net sales) primarily due to higher fuel prices and miles driven as a result of new business, partially offset by realized gains related to fuel hedges. The increase in operating expenses was partially offset by decreases in professional fees and insurance expense primarily related to auto insurance and workers’ compensation.

Net income for the first quarter of fiscal 2027 increased $35.9 million year-over-year to $129.5 million primarily driven by an increase in gross profit and decrease in interest expense, partially offset by increases in operating expenses and income tax expense. The effective tax rate in the first quarter of fiscal 2027 was 25.2% compared to 23.0% in the first quarter of fiscal 2026. The effective tax rate differed from the prior year period primarily due to a decrease in deductible discrete items related to stock-based compensation and a decrease in federal tax credits net of valuation allowance established, partly offset by a decrease in non-deductible compensation and other non-deductible expenses and a decrease in foreign taxes as a percentage of income.

For the q

EX-99.1

2 pfgc-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

NEWS RELEASE

For Immediate Release

Investors:

Media:

William S. Marshall

Scott Golden

SVP, Investor Relations

Director, Communications & Engagement

(804) 287-8108

(804) 484-7873

Bill.Marshall@pfgc.com

Scott.Golden@pfgc.com

Performance Food Group Company Reports Fourth-Quarter and Full-Year Fiscal 2026 Results

Strong Independent Case Volume and Cash Flow Generation; Announces Full-Year 2027 Financial Guidance

Fourth-Quarter Fiscal 2026 Highlights

• Total case volume increased 3.5%

• Total Independent Foodservice case volume increased 8.0%

• Organic Independent Foodservice case volume increased 5.8%

• Net sales increased 6.4% to $18.0 billion

• Gross profit improved 8.3% to $2.2 billion

• Net income increased 23.4% to $162.3 million

• Adjusted EBITDA increased 7.4% to $587.5 million1

• Diluted Earnings Per Share (“EPS”) increased 22.6% to $1.03

• Adjusted Diluted EPS increased 2.6% to $1.591

Full-Year Fiscal 2026 Highlights

• Total case volume increased 5.1%

• Total Independent Foodservice case volume increased 10.2%

• Organic Independent Foodservice case volume increased 5.9%

• Net sales increased 7.2% to $67.8 billion

• Gross profit improved 9.1% to $8.1 billion

• Net income increased 5.6% to $359.3 million

• Adjusted EBITDA increased 9.2% to $1,929.4 million1

• Diluted EPS increased 5.0% to $2.29

• Adjusted Diluted EPS increased 1.6% to $4.551

• Operating Cash Flow of $1,413.7 million

• Free Cash Flow of $1,029.6 million1

RICHMOND, Va. – August 12, 2026 – Performance Food Group Company (“PFG” or the “Company”) (NYSE: PFGC) today announced its fourth-quarter and full-year fiscal 2026 business results.

“Our solid execution throughout the year produced a strong finish to fiscal 2026” said Scott McPherson, PFG’s President & Chief Executive Officer. “Consistent market share gains across our business units translated into strong revenue growth and record-setting

1 This earnings release includes several metrics, including Adjusted EBITDA, Adjusted Diluted Earnings Per Share, and Free Cash Flow, that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”). Please see “Statement Regarding Non-GAAP Financial Measures” at the end of this release for the definitions of such non-GAAP financial measures and reconciliations of such non-GAAP financial measures to their respective most comparable financial measures calculated in accordance with GAAP.

EBITDA results. We enter fiscal 2027 with significant momentum, reflected in the outlook we are providing today. I want to thank PFG associates across the Company for making these results possible and positioning us for another strong year ahead.”

Fourth-Quarter Fiscal 2026 Financial Summary

Total case volume increased 3.5% for the fourth quarter of fiscal 2026 compared to the prior year period. Total organic case volume increased 1.8% for the fourth quarter of fiscal 2026 compared to the prior year period, benefiting from a 5.8% increase in organic independent cases, including growth in Performance Brands cases. Total independent case volume increased 8.0%.

Net sales for the fourth quarter of fiscal 2026 grew 6.4% to $18.0 billion compared to the prior year period primarily driven by an increase in selling price per case as a result of inflation, an increase in organic cases sold, including a favorable shift in mix of cases sold, and recent acquisitions. Overall product cost inflation for the Company was approximately 4.7% for the fourth quarter of fiscal 2026.

Gross profit for the fourth quarter of fiscal 2026 grew 8.3% to $2.2 billion compared to the prior year period, primarily due to growth and mix of cases sold, including growth in the independent channel, which generates higher gross profit due to additional services provided, recent acquisitions, and vendor rebates and promotional incentives.

Operating expenses rose 6.4% to $1.8 billion in the fourth quarter of fiscal 2026 compared to the prior year period primarily driven by additional operating expenses as a result of recent acquisitions, an increase in fuel expense due to higher fuel prices and miles driven as a result of new business, an increase in personnel expenses related to wages and commissions, and an increase in depreciation and amortization expense mainly driven by an increase in transportation equipment and facilities under finance leases.

Net income for the fourth quarter of fiscal 2026 increased $30.8 million year-over-year to $162.3 million primarily driven by an increase in gross profit, partially offset by increases in operating expenses and income tax expense. The effective tax rate in the fourth quarter of fiscal 2026 was approximately 26.8% compared to 25.6% in the fourth quarter of fiscal 2025. The effective tax rate for the fourth quarter of fiscal 2026 differed from the prior year period primarily due to a decrease in income tax credits net of valua

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