Performance Food Group Analysts Increase Their Forecasts After Q4 Results
Portfolio Pulse from Lisa Levin
Performance Food Group Co (PFGC) reported Q4 sales growth of 1.9% Y/Y to $14.87 billion, missing the consensus of $15.07 billion. Adjusted EPS increased 6.5% Y/Y to $1.14, in line with the consensus. For FY24, PFGC expects net sales of $59 billion-$60 billion and adjusted EBITDA of $1.45 billion-$1.5 billion. Following the earnings announcement, analysts from Stephens & Co., Barclays, and UBS raised their price targets on PFGC.
August 17, 2023 | 1:07 pm
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Performance Food Group's Q4 results were mixed with sales missing consensus but EPS in line. The company's FY24 outlook is positive. Analysts from Stephens & Co., Barclays, and UBS raised their price targets on PFGC following the earnings announcement.
Performance Food Group's Q4 results were mixed with sales missing consensus but EPS in line. This could have a neutral to slightly negative impact on the stock. However, the company's FY24 outlook is positive, which could have a positive impact on the stock. Furthermore, several analysts raised their price targets on PFGC following the earnings announcement, which could also have a positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100