Performance Food sees Q1 2027 net sales between $17.9 bln and $18.1 bln
Company expects Q1 2027 Adjusted EBITDA of $510 mln to $530 mln
Performance Food forecasts FY 2027 net sales of $72.5 bln to $73 bln
What drove the quarter
INDEPENDENT CUSTOMER GROWTH - Co said Q4 results were driven by 8% increase in independent foodservice case volume and 5.8% growth in organic independent cases
INFLATION IMPACT - Higher selling price per case due to inflation contributed to Q4 net sales growth
ACQUISITIONS AND MIX SHIFT - Recent acquisitions and a favorable shift in mix of cases sold, including more Performance Brands products, supported gross profit growth
Fiscal fourth-quarter results
US food distributor's fiscal Q4 revenue up 6.4% yr/yr, slightly missed analyst expectations
Adjusted EPS for fiscal Q4 rose 2.6% but missed consensus
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the food retail & distribution peer group is "buy"
Wall Street's median 12-month price target for Performance Food Group Company is $130.00, about 14.1% above its August 11 closing price of $113.96
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 16 three months ago
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