Performance Food Group Reports Fourth-Quarter, Full-Year Fiscal 2017 Results
Aug. 17, 2017
Source Performance Food Group Company
RICHMOND, Va.--(BUSINESS WIRE)--Performance Food Group Company (“PFG”) (NYSE: PFGC) today announced its fourth-quarter and full-year fiscal 2017 business results. “We generated strong fourth-quarter results and ended the year with solid adjusted EBITDA growth,” said George Holm, PFG’s President and Chief Executive Officer. “Our robust and consistent case growth, strong top-line growth, combined with increased gross profit per case, led to profitability at the high end of our expectations for fiscal 2017. Our strategic investments in fiscal 2017 will provide us with additional growth in fiscal 2018 and beyond.”
Fourth-Quarter Fiscal 2017 Highlights
- Net sales increased 1.3% to $4.4 billion; up 9.1% after adjusting for the extra week1
- Gross profit increased 2.4% to $574.9 million; up 10.3% after adjusting for the extra week1
- Net income increased 38.4% to $40.4 million, up 49.1% after adjusting for the extra week1
- Adjusted EBITDA increased 14.6% to $131.5 million2; up 23.5% after adjusting for the extra week1
- Diluted Earnings Per Share (EPS) increased 34.5% to $0.39; up 44.4% after adjusting for the extra week1
- Adjusted diluted EPS increased 26.3% to $0.482; up 37.1% after adjusting for the extra week1
Full-Year Fiscal 2017 Highlights
- Net sales increased 4.1% to $16.8 billion; up 6.1% after adjusting for the extra week1
- Gross profit increased 5.7% to $2.1 billion; up 7.9% after adjusting for the extra week1
- Net income increased 41.0% to $96.3 million; up 45.5% after adjusting for the extra week1
- Adjusted EBITDA increased 6.6% to $390.7 million2; up 9.0% after adjusting for the extra week1
- Diluted EPS increased 32.9% to $0.93; up 38.8% after adjusting for the extra week1
- Adjusted diluted EPS increased 24.0% to $1.242; up 27.8% after adjusting for the extra week1
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