Performance Food Reports 1.9% YOY Revenue Growth and 97.5% Net Income Increase in Q4 2023

☀️Earnings Overview

On August 16 2023, PERFORMANCE FOOD ($NYSE:PFGC) reported total revenue of USD 14865.2 million and net income of USD 150.1 million for the fourth quarter ended June 30 2023, which were 1.9% and 97.5% year-over-year growth respectively.

Analysis

GoodWhale has conducted a comprehensive evaluation of PERFORMANCE FOOD to assess its fundamentals. The analysis takes into account financial and business aspects, giving the company a medium risk rating. GoodWhale has identified four potential risk warnings in the income sheet, balance sheet, cashflow statement, and non-financial factors. For further information on the exact nature of these warnings, users can visit GoodWhale’s official website and register for more detailed information. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Performance Food. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Performance Food. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Performance Food. More…

Key Ratios Snapshot

Some of the financial key ratios for Performance Food are shown below. More…

Peers

The company operates through three segments: Performance Foodservice, PFG Customized, and Vistar. Performance Foodservice segment offers food and non-food products to independent restaurants, quick-service restaurants, caterers, and national restaurant chains. PFG Customized segment provides food and non-food products to customers who desire a customized distribution solution. Vistar segment supplies non-food products, equipment, and solutions to customers in the vending, office coffee service, theatre, and foodservice management industries.

– US Foods Holding Corp ($NYSE:USFD)

With a market capitalization of $6.66 billion as of 2022, US Foods Holding Corp is a publicly traded foodservice distributor. The company operates a network of nearly 300 distribution centers across the United States, serving more than 250,000 customers. US Foods Holding Corp also offers a variety of foodservice solutions, including custom-cut meat, seafood, and poultry; branded and private label products; and kitchen supplies and equipment. The company’s return on equity was 6.98% as of 2022.

– Sysco Corp ($NYSE:SYY)

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of brands includesSysco, Brakes, FreshPoint and EFS. The company operates approximately 330 distribution facilities worldwide and serves more than 625,000 customer locations.

– Sligro Food Group NV ($LTS:0MKM)

Sligro Food Group is a Dutch food retailer and wholesaler. The company has a market cap of 662.56M as of 2022 and a return on equity of 8.07%. The company operates a chain of supermarkets and hypermarkets under the brand name “Sligro”.

Summary

Investors have reacted positively to the fourth quarter results reported by PERFORMANCE FOOD on August 16th 2023. Total revenue was USD 14865.2 million, indicating a slight 1.9% year-over-year growth. Net income rose significantly, nearly doubling compared to the same period last year at 97.5%, reaching USD 150.1 million. Following the announcement, stock prices rose on the same day, a sign that investors are optimistic about the future of the company.