Performance Food Group Bottom Line Falls In Q3

(RTTNews) - Performance Food Group (PFGC) revealed a profit for third quarter that Drops, from last year

The company's earnings totaled $41.7 million, or $0.27 per share. This compares with $58.3 million, or $0.37 per share, last year.

Excluding items, Performance Food Group reported adjusted earnings of $0.80 per share for the period.

The company's revenue for the period rose 6.4% to $16.290 billion from $15.306 billion last year.

Performance Food Group earnings at a glance (GAAP) :

-Earnings: $41.7 Mln. vs. $58.3 Mln. last year. -EPS: $0.27 vs. $0.37 last year. -Revenue: $16.290 Bln vs. $15.306 Bln last year.

Net income for the third quarter decreased $16.6 million year-over-year to $41.7 million primarily due to an increase in operating expenses.

Net sales for the third quarter grew 6.4% to $16.3 billion compared to the prior year period, primarily driven by an increase in cases sold, including a favorable shift in mix of cases sold, and an increase in selling price per case as a result of inflation.