PFGC Stock Recent News

RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company (PFG) (NYSE: PFGC) has recently launched its third Associate Resource Group (ARG), called ¡Unidos!, as part of its inclusion, diversity and belonging initiatives. The purpose of ¡Unidos! is to foster inclusion across PFG, while cultivating a thriving community and empowering Hispanic associates to become future leaders. ¡Unidos!, which translates to “united,” is led by co-chairs Sandy Acosta, Category Manager, Performance Foodservic.

RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company Completes the Acquisition of Cheney Bros, Inc.

RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company Announces Intention to offer $1.0 billion of Senior Notes.

Performance Food Group Co. PFGC is one of the largest food service distributors in the United States. The company sources, markets, and delivers food and food-related products through a network of over 150 distribution facilities to over 125,000 businesses in the food service industry.

The comestibles concern published the final set of quarterly results from its fiscal 2024. These beat handily on earnings, but missed narrowly on the top line.

Performance Food Group Company shares rose 7.7% after announcing financial results for Q4 of 2024 fiscal year, with adjusted earnings exceeding forecasts. The company acquired Cheney Bros for $2.1 billion, adding $3.2 billion in annualized revenue, but the acquisition may be pricey. Management also acquired Jose Santiago and repurchased $78.1 million worth of shares in 2024, but shares likely have limited upside despite these moves.

Performance Food Group is a major food distributor, having more than tripled its sales over the past decade, aided by M&A efforts. Growth has come with growing margins as well, as the business has become a better company. Performance Food Group recently acquired Cheney Bros, a Florida-based food service business, adding significant value and growth potential to the company.

Performance Food Group Co. (PFGC) shares surged in intraday trading Wednesday after announcing a $2.1 billion cash acquisition of foodservice distributor Cheney Bros. and posting fourth-quarter adjusted earnings per share (EPS) that topped expectations.

Performance Food Group (PFGC) came out with quarterly earnings of $1.45 per share, beating the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.14 per share a year ago.

Performance Food Group Co. PFGC, +2.27% said Wednesday it agreed to pay $2.1 billion to buy Cheney Bros. Inc., a Florida-based foodservice distributor, to build up its presence in the Southeastern U.S. Cheney Bros.