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Performance Food Group Co PFGC Stock Quote

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Morningstar‘s Stock Analysis PFGC

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No-Moat Performance Food Group Is Managing Through Pandemic Aftershocks Relatively Well

Rebecca Scheuneman, CFA Senior Equity Analyst

Business Strategy and Outlook

| Rebecca Scheuneman, CFA |

COVID-19 caused an unprecedented shock to the food-service industry, although Performance Food Group's, PFG's, high mix of delivery-heavy pizzerias helped damp the impact, with PFG returning to prepandemic sales levels by April 2021. Product and labor shortages remain a problem, and we think the firm is gaining market share as a result, as its clout as the third-largest U.S. food-service distributor likely allows it to more easily secure product than its smaller competitors.

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Key Statistics PFGC

Company Profile PFGC

Business Description

Performance Food Group is the third-largest U.S. food-service distributor, with 9% market share and a heavy presence along the Eastern seaboard, the Southeast, and the Midwest. PFG’s food-service business (expected to be 51% of fiscal 2022 sales) has its largest exposure to national and regional restaurant chains (50% of segment revenue), followed by independent restaurants (36%) and other channels (15%) such as healthcare facilities, hotels, and schools. The firm’s Vistar business (49% of sales) is a national distributor of candy, snacks, and beverages to convenience stores, vending and office coffee service distributors, theaters, sporting arenas, and correctional facilities.

12500 West Creek Parkway
Richmond, VA, 23238
T +1 804 484-7700
Industry Food Distribution
Most Recent Earnings Jun 30, 2022
Fiscal Year End Jul 2, 2023
Employees 35,000