Performance Food Group Reports Robust 2025 Sales Growth Fueled by Volume and Acquisitions.

RICHMOND, VA – Performance Food Group Company (PFG), a major player in North America’s food and foodservice distribution industry, has unveiled its financial results for the fourth quarter and full fiscal year ending in 2025. The report paints a picture of strong top-line growth and operational momentum, driven by a surge in case volume and the successful integration of key acquisitions, even as net income saw a decrease compared to the prior year.

Key Financial Highlights: A Tale of Two Metrics

For its full fiscal year 2025, PFG announced a substantial 8.6% increase in net sales, reaching $63.3 billion. This growth was complemented by a 12.8% improvement in gross profit to $7.4 billion.

However, the bottom line presented a different story, with net income for the year decreasing by 22.0% to $340.2 million. This resulted in a diluted Earnings Per Share (EPS) of $2.18, down 21.9% from the previous year.

Crucially, when looking at adjusted figures, which typically exclude one-time expenses such as acquisition and integration costs, the company’s performance shines. Adjusted EBITDA for the year climbed an impressive 17.3% to $1.8 billion, and Adjusted Diluted EPS rose 4.2% to $4.48. This divergence suggests that while strategic investments may have impacted short-term net income, the company’s core operational profitability remains strong.

Fourth-Quarter Fiscal 2025 Snapshot:

• Net Sales: $16.9 billion (up 11.5%)

• Gross Profit: $2.0 billion (up 14.6%)

• Adjusted EBITDA: $546.9 million (up 19.9%)

• Adjusted Diluted EPS: $1.55 (up 6.9%)

• Net Income: $131.5 million (down 21.0%)

The company also demonstrated strong liquidity, generating 704.1 million in free cash flow for the full fiscal year.

Operational Strength and Strategic Acquisitions Drive Growth

The engine behind PFG’s sales growth was a significant increase in case volumes. Total case volume for the full year grew by 8.5%, with the fourth quarter seeing an even more impressive 11.9% jump.

A standout performer was the independent foodservice segment, a critical area for profitability, which saw its case volume increase by 20.4% in the fourth quarter and 16.9% for the full year. PFG noted that the recent acquisition of Cheney Brothers was a significant contributor to this robust growth, highlighting the success of its expansion strategy.

Commitment to Shareholder Value

PFG continued to demonstrate confidence in its financial position and a commitment to returning capital to shareholders. During fiscal 2025, the company repurchased 0.8 million shares of its common stock for a total of $57.6 million.

Looking forward, the Board of Directors has authorized a new $500 million share repurchase program, which replaces and expands upon the previous $300 million authorization, signaling a continued focus on enhancing shareholder value.

Management’s Perspective

George Holm, PFG’s Chairman & CEO, expressed pride in the company’s performance. “Our strong fourth-quarter and full-year fiscal 2025 financial results are a testament to the dedication of our 43,000 associates,” he stated. Holm emphasized the successful integration of recent acquisitions, including Cheney Brothers and José Santiago, noting their potential to “enhance shareholder value and drive future growth” for the company.

Positive Outlook for Fiscal 2026

Buoyed by the strong results, Performance Food Group has issued a confident outlook for the upcoming fiscal year.

• For the first quarter of fiscal 2026, PFG anticipates net sales between $16.6 billion and $16.9 billion, with Adjusted EBITDA projected to be between $465 million and $485 million.

• For the full fiscal year 2026, the company forecasts net sales to be in the range of $67 billion to 1.9 billion and $2.0 billion.

This guidance suggests that PFG expects to build upon its current momentum, continuing its trajectory of growth in sales and core profitability in the year ahead.