Performance Food Group Company, Q1 2027 Earnings Call Transcript

Performance Food Group began fiscal 2027 with 5.5% revenue growth, 10% adjusted EBITDA growth and 33 basis points of gross-margin expansion, despite weak restaurant traffic, elevated fuel costs and a challenging consumer backdrop. Management expects full-year sales of $72.5–73 billion and adjusted EBITDA of $2.125–2.225 billion, reiterating guidance and its three-year targets. Procurement savings, brand growth and operational technology are expected to support continued margin improvement; savings are projected to reach about $125 million by the end of fiscal 2028.
Independent restaurant growth and share gains remain strong, while chain volumes were slightly negative. Convenience growth is expected to ease as major customer wins are lapped, then return to low single digits; Specialty margins are forecast to remain pressured in Q2 before improving in the second half. Fuel costs and softer consumer spending remain key risks, though management expects EBITDA growth to accelerate through the year.