Foodservice and food distribution leader Performance Food Group Company (PFG) released its fiscal results for the full-year fiscal 2024. The report shows net income increase and strong full-year cash flow, among other highlights.
“PFG had a strong finish to fiscal 2024, showing an acceleration in sales, adjusted EBITDA, and Earnings Per Share growth in the fiscal fourth quarter,” said George Holm, PFG’s Chairman and Chief Executive Officer. “I am excited for fiscal 2025 and expect our underlying business momentum to continue.”
Here are some of the full-year fiscal 2024 highlights:
A press release shared that operating expenses rose 4.2 percent to $1.5 billion in the fourth quarter of fiscal 2024, compared to the prior year period. The increase in operating expenses was primarily due to increases in personnel expense, primarily related to salaries, wages, and benefits, and repairs and maintenance expenses.
“We are also pleased to announce two value creating deals with the proposed purchase of Cheney Brothers and the acquisition of José Santiago, which closed in July,” Holm added. “The addition of these two organizations is expected to provide significant revenue and profit growth opportunities. Both companies are led by excellent management teams, are good cultural additions, and will build upon our strong foodservice platform to drive shareholder value over the long-term.”
To read the full report, click here.
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