Performance Food Group (PFGC) recently revealed a decrease in their third-quarter earnings compared to the previous year, falling short of market predictions. The firm's earnings registered at $70.4 million, translating to $0.45 per share. This stands in contrast to last year's third-quarter earnings of $80.3 million, or $0.51 per share.
After deducting exceptional items, the firm reported its adjusted earnings as $0.80 per share for the quarter. However, analysts had predicted average earnings of $0.84 per share, according to data collated by Thomson Reuters – these estimates typically leave out unique items.
The quarter saw a slight revenue rise of 0.7%, from $13.8 billion the previous year to current earnings of $13.9 billion.
A quick overview of Performance Food Group's third quarter earnings based on GAAP is as follows:
- Earnings for Q3 stand at $70.4 million, down from $80.3 million in the previous year.
- Earnings per share for Q3 are $0.45, a decrease from $0.51 the previous year.
- Revenue for Q3 is $13.9 billion, marginally up from $13.8 billion the previous year.
Looking forward, the full year revenue is forecasted to be within the range of $58.1 billion to $58.5 billion.
