Performance Food Q2 sales rise 5.2%, slightly miss estimates

Performance Food

04/02/2026 12:07

Overview

Food distribution company's Q2 net sales grew 5.2% but slightly missed analyst expectations

Adjusted EPS for Q2 remained flat at $0.98, missing analyst expectations

Company highlighted strong case volume growth and improved cash flow

Outlook

Company expects Q3 net sales between $16.0 bln and $16.3 bln

Performance Food revises full-year net sales to $67.25 bln-$68.25 bln

Company anticipates Q3 Adjusted EBITDA between $390 mln and $410 mln

Result Drivers

CASE VOLUME GROWTH - Total case volume increased 3.4%, with independent foodservice case volume up 6.7%, driving net sales growth

SALES MIX AND PRICING - Net sales rose 5.2% due to increased case sales and higher selling prices per case, influenced by inflation

GROSS PROFIT IMPROVEMENT - Gross profit increased 7.6% due to procurement efficiencies and favorable sales mix

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Slight Miss*
$16.40 bln
$16.54 bln (12 Analysts)
Q2 Adjusted EPS
Miss
$0.98
$1.09 (12 Analysts)
Q2 EPS
$0.39
Q2 Net Income
$61.70 mln
Q2 Adjusted EBITDA
Miss
$451.20 mln
$464.48 mln (12 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the food retail & distribution peer group is "buy"

Wall Street's median 12-month price target for Performance Food Group Co is $120.00, about 23.6% above its February 3 closing price of $97.09

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nBw4DBNKya

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)