Performance Food Group Company (PFG) reported a significant increase in financial performance for the fiscal year ending June 28, 2025, with net sales reaching $63.3 billion, an increase of 8.6% from $58.3 billion in the previous fiscal year. The company's gross profit also rose to $7.4 billion, up 12.8% from $6.6 billion in fiscal 2024. However, net income decreased by 22% to $340.2 million, down from $435.9 million, primarily due to increased operating expenses and interest costs associated with recent acquisitions.
The fiscal year saw PFG make substantial strategic moves, including the acquisition of Cheney Bros., Inc. for approximately $2.6 billion, which contributed significantly to the company's sales growth. The acquisition, completed on October 8, 2024, expanded PFG's operations in the Southeastern United States and is expected to enhance its market position. The company also reported a total case volume increase of 8.5%, with organic case volume growing by 2.1%, indicating a positive trend in customer engagement and product adoption.
Operationally, PFG maintained a workforce of approximately 43,000 employees, with a focus on enhancing its service offerings to independent customers, who typically generate higher gross profit margins. The company operates 155 distribution centers across North America, serving over 300,000 customer locations. The Foodservice segment, which includes independent and chain restaurants, reported a 15.8% increase in net sales, driven by both acquisitions and organic growth. The Specialty segment also saw a modest increase in sales, while the Convenience segment's growth was more subdued at 1.4%.
Looking ahead, PFG's management expressed optimism about future growth, emphasizing the importance of integrating the Cheney Brothers acquisition and leveraging its expanded capabilities. However, the company acknowledged potential risks, including economic volatility, inflationary pressures, and competition in the foodservice distribution industry. The outlook remains cautious, with management highlighting the need to navigate these challenges while continuing to focus on operational efficiencies and strategic growth initiatives.
About Performance Food Group Co
Performance Food Group Company is a leading foodservice distributor providing over 250,000 food and related products to diverse customers across North America. Its core segments—Foodservice, Convenience, and Specialty—serve restaurants, retailers, and institutional clients. The company leverages economies of scale, supply chain efficiencies, and value-added services to deliver competitive pricing, broad product offerings, and industry expertise in a low-margin, highly competitive industry.
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