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Performance Food Group Company (PFGC) investor relations material
Performance Food Group Company Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary5 Nov, 2025
Executive summary
Net sales rose 10.8% year-over-year to $17.08 billion for Q1 FY2026, driven by acquisitions, case growth, and inflationary pricing.
Achieved double-digit growth in sales, gross profit, and Adjusted EBITDA, with strong independent foodservice case volume gains.
Net income declined 13.3% to $93.6 million due to higher operating and interest expenses.
Adjusted EBITDA increased 16.6% to $480.1 million, with Adjusted Diluted EPS up 1.7% to $1.18.
Investments in sales force and technology continue, with sales headcount up 6% year-over-year.
Financial highlights
Gross profit increased 14.3% to $2.02 billion, with gross profit per case up $0.32.
Operating expenses rose 15.7% to $1.8 billion, mainly from acquisitions, higher personnel costs, and legal/professional fees.
Diluted EPS was $0.60, down 13.0% year-over-year; Adjusted Diluted EPS was $1.18, up 1.7%.
Cash flow from operations was negative $145.2 million, mainly due to advanced inventory purchases.
Free cash flow was negative $224.1 million, down from negative $43.0 million a year ago.
Outlook and guidance
Full-year net sales guidance raised to $67.5–$68.5 billion, a $500 million increase.
Full-year Adjusted EBITDA guidance reiterated at $1.9–$2.0 billion.
Q2 2026 net sales expected at $16.4–$16.7 billion; Adjusted EBITDA at $450–$470 million.
On track to achieve three-year targets: $73–$75 billion sales and $2.3–$2.5 billion Adjusted EBITDA by fiscal 2028.
Management expects continued benefit from acquisitions, procurement efficiencies, and organic case growth, but notes ongoing macroeconomic uncertainty and inflationary pressures.
What factors drove the Q1 GAAP EPS decline?
Assess the impact of inventory strategy on cash flow
Why is FY26 EBITDA guidance not increasing with sales?
Foodservice OpEx leverage timeline
Convenience growth drivers beyond large chains
Independent customer same-store sales strategy
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Next Performance Food Group Company earnings date
Q2 20264 Feb, 2026
Next Performance Food Group Company earnings date
Q2 20264 Feb, 2026
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Frequently asked questions
Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through two segments, Foodservice and Vistar. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products, as well as beef, pork, poultry, and seafood. It also sells disposables, cleaning and kitchen supplies, and related products. In addition, the company offers value-added services that include product selection and procurement; menu development; recipe management; strategic planning or consulting; new store openings; data analysis; marketing support services; culinary support services; data processing; credit card processing; accounts receivable financing to independent operators; group purchasing organization for the purpose of providing cost savings opportunities to our customers; co-branding programs for the benefit of our customers' patrons and our brand partners; and electronic ordering platforms that provide labor efficiency advantages to our customers. It serves approximately 165,000 independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools/colleges/universities/ hospitals/other institutions (SCHUHS), vending operators and office coffee service distributors.
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