Performance Food Group (PFGC) Q1 FY2027 earnings: revenue $18.0 billion, up 5.5% on the year

Performance Food Group Co. (PFGC) reported revenue of $18.0 billion for Q1 FY2027, the quarter ended 26 September 2026, up 5.5% on the same quarter a year earlier. Net income was $130 million, up 38.4% on the year, and diluted earnings per share $0.82. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$18.0 billion

+5.5% on the year · -0.1% on the quarter

Q2 FY2025Q1 FY2027

Operating margin

1.5%

1.3% a year earlier

Q2 FY2025Q1 FY2027

Net income

$130 million

+38.4% on the year · -20.2% on the quarter

Q2 FY2025Q1 FY2027

Diluted EPS

$0.82

+36.7% on the year · -20.4% on the quarter

Q2 FY2025Q1 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 new, 2 kept.

Net sales and gross profit grew: Net sales rose 5.5% to $18.0 billion on organic case growth, acquisitions and selling price per case from inflation. Gross profit rose 8.5% to $2.2 billion, helped by vendor rebates, promotional incentives and case mix.
Net income and EPS rose: Net income rose $35.9 million to $129.5 million, driven by higher gross profit and lower interest expense. Diluted EPS rose 36.7% to $0.82, and Adjusted Diluted EPS rose 11.9% to $1.32.
Adjusted EBITDA rose 10%: Adjusted EBITDA rose 10.0% to $528.0 million from $480.1 million. The company reconciles this non-GAAP measure to net income in its release.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Revenue	18,018	18,029	17,076	-0.1%	+5.5%
Cost of revenue	15,831	15,860	15,059	-0.2%	+5.1%
Gross profit	2,188	2,169	2,017	+0.9%	+8.5%
Gross margin	12.1%	12.0%	11.8%
Operating income	272	324	225	-15.9%	+21.1%
Operating margin	1.5%	1.8%	1.3%
Interest expense	98.4	102	104	-3.4%	-5.7%
Pre-tax income	173	222	122	-21.9%	+42.5%
Income tax	43.6	59.4	27.9	-26.6%	+56.3%
Effective tax rate	25.2%	26.8%	23.0%
Net income	130	162	93.6	-20.2%	+38.4%
Net margin	0.7%	0.9%	0.5%
Diluted EPS	$0.82	$1.03	$0.60	-20.4%	+36.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Operating cash flow	-89.3	342	-145
Capital expenditure	53.9	118	78.9	-54.4%	-31.7%
Free cash flow	-143	224	-224
Free cash flow margin	-0.8%	1.2%	-1.3%
Cash from investing	-53.8	-116	-78.0
Cash from financing	86.6	-179	183		-52.7%
Depreciation and amortisation	211	214	195	-1.4%	+7.8%
Share-based compensation	13.2	13.0	13.0	+1.5%	+1.5%
Buybacks	n/a	0.6	0.0
Diluted shares, weighted	158m	157m	157m	+0.2%	+0.4%
Shares outstanding at period end	157m	156m	156m	+0.4%	+0.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2027	Q4 FY2026	Q1 FY2026	On the quarter	On the year
Shareholders' equity	5,054	4,899	4,574	+3.2%	+10.5%
Debt	5,170	5,007	5,637	+3.3%	-8.3%
Operating lease liabilities	852	865	894	-1.4%	-4.6%
Finance lease liabilities	1,515	1,537	1,434	-1.4%	+5.7%
Other liabilities	6,308	6,541	5,814	-3.6%	+8.5%
Total liabilities and equity	18,900	18,849	18,352	+0.3%	+3.0%
Fixed assets	4,722	4,785	4,506	-1.3%	+4.8%
Goodwill	3,566	3,565	3,474	+0.0%	+2.7%
Intangible assets	1,482	1,545	1,620	-4.1%	-8.5%
Cash and equivalents	35.9	92.4	38.1	-61.1%	-5.8%
Receivables	3,009	3,054	2,832	-1.5%	+6.3%
Inventory	4,604	4,333	4,415	+6.2%	+4.3%
Other assets	1,481	1,475	1,467	+0.4%	+0.9%
Total assets	18,900	18,849	18,352	+0.3%	+3.0%

Questions

What was Performance Food Group's revenue in Q1 FY2027?

Performance Food Group (PFGC) reported revenue of $18.0 billion for Q1 FY2027, the quarter ended 26 September 2026, up 5.5% on the same quarter a year earlier.

How much did Performance Food Group earn in Q1 FY2027?

Net income for Q1 FY2027 was $130 million, up 38.4% on the year, and diluted earnings per share $0.82.

When did Performance Food Group report Q1 FY2027 results?

Performance Food Group filed its 10-Q for the quarter ended 26 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	12,839	13,079	14,590	14,719	13,899	13,771	14,865	14,939	14,296	13,858	15,189	15,416	15,638	15,306	16,939	17,076	16,445	16,290	18,029	18,018
Cost of revenue	11,560	11,733	13,100	13,144	12,399	12,259	13,197	13,276	12,698	12,289	13,442	13,651	13,810	13,484	14,937	15,059	14,478	14,351	15,860	15,831
Gross profit	1,279	1,346	1,490	1,575	1,500	1,512	1,668	1,663	1,598	1,569	1,747	1,764	1,828	1,822	2,002	2,017	1,966	1,939	2,169	2,188
Gross margin	10%	10%	10%	11%	11%	11%	11%	11%	11%	11%	12%	11%	12%	12%	12%	12%	12%	12%	12%	12%
Operating income	57.8	68.6	153	191	144	169	262	216	174	155	281	215	159	174	268	225	190	149	324	272
Operating margin	0%	1%	1%	1%	1%	1%	2%	1%	1%	1%	2%	1%	1%	1%	2%	1%	1%	1%	2%	2%
Interest expense	45.2	45.9	47.8	50.4	55.7	55.9	56.0	56.1	61.4	57.1	57.6	66.8	100	96.9	94.5	104	104	103	102	98.4
Pre-tax income	11.4	34.0	116	130	96.2	112	206	163	112	96.8	225	147	56.7	78.5	177	122	86.7	55.9	222	173
Tax rate	26%	31%	35%	26%	26%	28%	27%	26%	30%	27%	26%	26%	25%	26%	26%	23%	29%	25%	27%	25%
Net income	8.4	23.4	76.0	95.7	71.1	80.3	150	121	78.3	70.4	166	108	42.4	58.3	132	93.6	61.7	41.7	162	130
Net margin	0%	0%	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%	0%	0%	1%	1%	0%	0%	1%	1%
Diluted EPS	$0.05	$0.15	$0.51	$0.62	$0.46	$0.51	$0.96	$0.77	$0.50	$0.45	$1.07	$0.69	$0.27	$0.37	$0.84	$0.60	$0.39	$0.27	$1.03	$0.82
Operating cash flow	122	237	-114	316	109	233	175	87.1	467	403	206	53.5	326	448	383	-145	601	616	342	-89.3
Capital expenditure	44.1	72.3	74.7	40.1	58.0	79.1	92.5	53.2	93.9	97.3	151	96.5	107	129	173	78.9	113	73.6	118	53.9
Free cash flow	77.9	164	-189	276	50.6	154	82.4	33.9	373	305	55.1	-43.0	218	319	210	-224	488	542	224	-143
Buybacks	n/a	n/a	n/a	0.0	0.0	0.0	11.2	28.1	50.0	0.0	0.0	29.2	4.4	10.0	14.0	0.0	0.0	0.9	0.6	n/a
Shares outstanding	153m	153m	154m	154m	154m	154m	154m	155m	154m	154m	154m	154m	155m	155m	155m	156m	156m	156m	156m	157m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 26 September 2026, filed 4 November 2026: the filing.