Performance Food Group Adjusts FY20 Adj. EPS Guidance - Quick Facts

(RTTNews) - Performance Food Group Company (PFGC) said, for fiscal 2020, adjusted earnings per share is now expected to be in a range of $2.17 to $2.28, a growth rate of 2% to 7% over fiscal 2019. The company noted that its adjusted EPS figures now exclude the impact of intangible amortization expense in past and future periods. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.03. Analysts' estimates typically exclude special items. Adjusted EBITDA excluding the contribution from Reinhart, but including Eby-Brown, is expected to grow in a range of 13% to 16%, revised from prior guidance range of 10% to 14%. Organic case growth is anticipated in a range of 3% to 5%, which excludes contributions from Eby-Brown & Reinhart.

Second-quarter adjusted earnings per share increased 9.4% year-on-year to $0.58. On average, 8 analysts polled by Thomson Reuters expected the company to report profit per share of $0.44, for the quarter. Adjusted EBITDA rose 22.2% to $142.9 million.

Second-quarter net sales rose 31.5% to $6.07 billion from prior year. Total case volume increased 6.7%, with underlying organic growth of 0.7%. Analysts expected revenue of $6.13 billion for the quarter.