Performance Food Initiates FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter, Performance Food Group Co. (PFGC) on Wednesday initiated adjusted earnings growth guidance for the full-year 2020.

The company noted that higher depreciation and amortization related to Vistar acquisitions, higher interest expense due to the debt incurred to fund the Eby-Brown acquisition and a higher effective tax rate versus fiscal 2019 are expected to drive lower adjusted earnings growth.

For fiscal 2020, the company expects adjusted earnings to grow in a range of 4 to 10 percent over its fiscal 2019 adjusted earnings of $1.85 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.78 per share for the year. Analysts' estimates typically exclude special items.

Further, the company also expects adjusted EBITDA growth to be in a range of 9 to 13 percent over its fiscal 2019 adjusted EBITDA of $475.5 million.