Performance Food's Q1 Topline Misses By A Whisker; Sticks To Its Long-Term Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Performance Food Group Company (PFGC) reported Q1 FY24 sales growth of 1.5% Y/Y to $14.94 billion, slightly missing the consensus of $14.96 billion. Adjusted EPS increased 6.5% Y/Y to $1.15, beating the consensus of $1.09. The company repurchased 0.5 million shares of common stock under its existing $300 million share repurchase program. PFGC shares are trading lower by 0.78% at $60.
November 08, 2023 | 6:46 pm
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NEGATIVE IMPACT
Performance Food Group's Q1 FY24 sales slightly missed expectations, but EPS beat consensus. The company's shares are trading lower.
Despite beating EPS estimates, Performance Food Group's slight miss on sales expectations and lower trading price indicate potential short-term negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100