Performance Food Group Q4 earnings miss estimates by $0.01
Revenue also fell short of Wall Street forecasts as the food distributor grappled with weak demand and margin pressures.
Performance Food Group Co reported fourth-quarter earnings that missed analyst expectations by a penny per share, while revenue trailed forecasts as the company faced softening demand and margin headwinds.
The Richmond, Virginia-based distributor recorded adjusted earnings of $1.86 per share, below the $1.87 per share estimate compiled by Refinitiv. Revenue totaled $12.5 billion, down 3.2% year-over-year and missing the $12.7 billion consensus.
Management cited weaker-than-expected demand across its customer base, including restaurants and healthcare providers, as a key factor behind the shortfall. The company also noted ongoing cost pressures, particularly in labor and transportation, which weighed on profitability despite efforts to streamline operations.
For the full fiscal year, Performance Food Group posted adjusted earnings of $6.97 per share on revenue of $51.2 billion, representing a 2.1% decline in earnings and a 0.5% drop in revenue compared with the prior year. The company maintained its full-year guidance for fiscal 2025, reaffirming its outlook for adjusted earnings of $7.20 to $7.40 per share and revenue of $53.0 billion to $54.0 billion.
Shares of Performance Food Group were down 2.3% in pre-market trading on Thursday, reflecting investor reaction to the earnings miss and cautious guidance.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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