M&A - Performance Food Group Co

Form Type: 10-Q

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025065695

Filing Summary: Performance Food Group Company reported the consolidated financial results for the quarter ended March 29, 2025. The firm saw significant growth in net sales, reaching $15.3 billion compared to the previous year’s $13.9 billion, marking an increase influenced by their recent acquisition of Cheney Brothers, Inc. The total assets increased to $17.1 billion from $13.4 billion, indicating growth through acquisitions and organic expansion. Current liabilities rose, reflecting higher outstanding accounts payable and accrued expenses. Operating profit slightly increased to $174.4 million. The net income decreased to $58.3 million compared to $70.4 million in the prior year, showing pressure from increased interest expenses associated with the acquisition financing and higher operational costs. Key risk factors identified included market competition, integration challenges from acquisitions, and economic conditions impacting consumer spending. The Earnings per Share (EPS) was reported as $0.38 for the quarter. This update emphasizes the ongoing integration of recently acquired businesses and their impact on financial performance and operational strategies.