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Performance Food Group Reports Q4 Earnings Beat

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Performance Food Group (NYSE: PFGC) reported fourth-quarter earnings of 70 cents per share, which beat the analyst consensus estimate of 63 cents by 11.11%. This is a 32.08% increase over earnings of 53 cents per share from the same period last year.

The company reported fourth-quarter sales of $5.899 billion, which beat the analyst consensus estimate of $5.64 billion by 4.59%. This is a 28.38% increase over sales of $4.595 billion the same period last year.

“Fiscal 2019 was a successful year for PFG, and I’m very pleased with our team’s execution,” said CEO George Holm. “Our strong top-line growth, combined with increased gross profit per case, led to profitability at the high end of our expectations for the year. Our core business segments delivered strong financial results led by Vistar’s double-digit EBITDA growth. Looking ahead to fiscal 2020, we believe our two recently announced strategic acquisitions position us well across our business and we expect fiscal 2020 to be another year of solid earnings growth.”

Performance Food Group shares were trading at $43.80 in Wednesday’s pre-market session. The stock has a 52-week high of $44.62 and a 52-week low of $28.05.

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