Performance Food Group Co (PFGC) · Nov 4, 2026 · Earnings

Performance Food Group earnings beat EPS; guidance reaffirmed

Beat — Adjusted EPS $1.32 vs ~$1.26–$1.31 consensus

Performance Food Group earnings narrowly beat adjusted EPS while revenue landed near consensus and full-year guidance stayed unchanged.

PFG is a large food and foodservice distributor trying to extend recent market-share gains—especially with independent restaurants—while using acquisitions, mix and efficiency initiatives to expand margins. That setup was already visible entering fiscal 2027: the company had guided to first-quarter adjusted EBITDA of $510 million–$530 million and full-year adjusted EBITDA of $2.125 billion–$2.225 billion.

The quarter modestly cleared the earnings bar, but not by enough to rewrite the story. Adjusted EPS of $1.32 was just above the published pre-release range of roughly $1.26–$1.31, while $18.0 billion of revenue was essentially in line with estimates clustered around $18.01 billion to $18.05 billion. The operating result itself was healthy: total case volume rose 4.2%, independent Foodservice cases rose 7.8%, and adjusted EBITDA increased 10.0% to $528.0 million. 〔0〕

Metric	Q1 FY2027	Q1 FY2026	Consensus / other
Net sales (Financial Summary)	$18,018.4M	$17,075.9M	~$18,010M
Adjusted EPS (Non-GAAP reconciliation)	$1.32	$1.18	~$1.26–$1.31
Adjusted EBITDA (Non-GAAP reconciliation)	$528.0M	$480.1M	$510M–$530M guide
Total case volume (Financial Summary)	+4.2%	—	—
Foodservice adjusted EBITDA (Segment Results)	$367.9M	$324.4M	—
Specialty adjusted EBITDA (Segment Results)	$89.5M	$94.0M	—
Free cash flow (Cash Flow and Capital Spending)	$(143.2)M	$(224.1)M	—

Foodservice is the real engine, not all three segments. Foodservice adjusted EBITDA grew 13.4%, faster than sales, as independent sales rose to 43.0% of the segment from 41.6% a year earlier. That supports the company’s higher-margin independent-customer strategy. 〔1〕 Convenience delivered slower 3.8% EBITDA growth, while Specialty EBITDA fell 4.8% despite 10.3% sales growth, showing that rising revenue is not translating evenly into profit across the portfolio.

The balance-sheet and cash-flow picture improved year over year, but remains a restraint. Free cash flow was still negative at $143.2 million, although materially better than negative $224.1 million a year earlier; the company also ended the quarter with only $35.9 million of cash and $5.17 billion of long-term debt. The improvement was helped by lower capital spending and less inventory investment than last year, rather than by positive cash generation.

Guidance is intact, not upgraded. PFG reiterated its full-year sales range of $72.5 billion–$73.0 billion and adjusted EBITDA range of $2.125 billion–$2.225 billion, so the quarter validates the existing plan rather than raising the bar.

Bottom line: This was a clean but narrow earnings beat: Foodservice momentum and margin execution are working, while Specialty weakness and negative free cash flow keep the result from being a major change to the business story. Overall, PFG remains on track rather than ahead of a materially raised expectation.

What to watch next

Second-quarter fiscal 2027 results

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

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Performance Food Group earnings beat EPS; guidance reaffirmed

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