Performance Food Group Q3 Adj. Profit Rises; Net Sales Up 81.6%

(RTTNews) - Performance Food Group Company (PFGC) reported that its third quarter adjusted EPS increased 168.4% to $0.51 from last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.51, for the quarter. Analysts' estimates typically exclude special items.

Net income for the third quarter increased 407.9% year-over-year to $23.4 million. EPS increased 350.0% to $0.15.

Net sales grew 81.6% to $13.1 billion compared to the prior year period. Total case volume increased 35.3%, while organic case volume increased 8.3% in the third quarter. Analysts on average had estimated $13.09 billion in revenue.

For fiscal 2022, PFG now expects net sales to be in a range of $50.5 billion to $51 billion and adjusted EBITDA to be in a range of $990 million to $1 billion. The company had previously expected net sales to be in a range of $50 billion to $51 billion and adjusted EBITDA to be in a range of $970 million to $990 million.