Analyst Consensus ?
ConsensusBuy26 ratings
Bullish2492.3%
Neutral27.7%
Bearish00.0%
Performance Food Group Co · PFGC · FY2026 Q3 · Calendar Q2 2026
PFGC: Strong case growth offsets macro and integration costs
PFGC's current evidence supports a constructive operating thesis: strong independent-restaurant and convenience case growth, customer wins, procurement opportunities, and digital ordering investments are offsetting macro pressure and acquisition costs. The thesis depends on executing integrations, converting growth investments into synergies, and managing fuel and demand risks.
Reported Before market openNYSEConsumer Defensive
$14.38B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.80
Consensus $0.78
EPS surprise
+3.2%
Reported versus consensus
Reported revenue
$16.29B
Consensus $16.17B
Revenue surprise
+0.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+6.6%
Event window
SPY move
+1.4%
Same window
Abnormal move
+5.2%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+1.1%
Up to 20 sessions
PFGCSPY benchmark
Ask FN2 about PFGC FY2026 Q3
Transcript, numbers and history already loaded
Why did PFGC rise 6.6% after beating EPS estimates in FY2026 Q3?What changed in PFGC's guidance and outlook in FY2026 Q3?Give me the bull and bear case for PFGC after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, case growth accelerated, adjusted EBITDA exceeded the top end of guidance, and management highlighted Cash-Wa, the Florence facility, and AI agents in Customer First. Cheney-related expense drag and fuel-cost sensitivity remain, while FY2026 guidance was tightened but maintained.
Guidance delta
FY2026 guidance was tightened but maintained, with management saying the company remains on track for its 2028 targets.
Key takeaways
- Sales and EBITDA exceeded the high end of guidance.
- Independent restaurant case growth reached 6.5%; Convenience organic case growth was 8.3%.
- Adjusted EBITDA increased 6.6% to $410.6 million.
- Cheney integration costs remain a near-term drag, while synergies are expected to support FY2027.
- Customer First AI agents and Western expansion add execution opportunities.
Management priorities
- Ramp the Florence, South Carolina facility and capture its synergies.
- Integrate Cash-Wa into the Foodservice platform.
- Roll out Customer First AI agents across segments.
- Expand Western U.S. distribution capacity.
- Pursue focused broadline Foodservice acquisitions.
Follow PFGC with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$91.64Current
$62Low
$104.8Average
$133High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Sep 11, 2026 |
| UBS | Buy | Buy | Maintain | Aug 14, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 13, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 14, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jun 29, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 7, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Dec 12, 2025 |
| Truist Securities | Buy | Buy | Maintain | Aug 14, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Nov 7, 2024 |
| Jefferies | Buy | Buy | Maintain | Sep 25, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 15, 2024 |
| Stephens & Co. | Overweight | Overweight | Maintain | Feb 8, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 11, 2023 |
| Berenberg | Buy | Buy | Maintain | May 18, 2022 |
| CL King | Buy | Buy | Maintain | Mar 11, 2022 |
| BTIG | Neutral | Buy | Downgrade | Aug 20, 2021 |
| Wolfe Research | Outperform | Outperform | Maintain | Sep 23, 2020 |
| Buckingham Research | Buy | Buy | Maintain | Feb 6, 2020 |
| Buckingham | Buy | Buy | Maintain | Feb 6, 2020 |
| Bank of America | Buy | Buy | Maintain | Oct 2, 2019 |
| B of A Securities | Buy | Buy | Maintain | Oct 2, 2019 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 10, 2018 |
| Loop Capital | Buy | Buy | Maintain | May 16, 2017 |
| Goldman Sachs | Buy | Buy | Maintain | Dec 9, 2016 |
| BB&T Capital | Buy | Buy | Maintain | Oct 27, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $91.64. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Mark Carden | $130 | $105.92 | +41.9% | Aug 17, 2026 |
| Deutsche Bank | Lauren Silberman | $133 | $104.9 | +45.1% | Aug 13, 2026 |
| Morgan Stanley | Analyst unavailable | $131 | $112.99 | +43.0% | Jul 15, 2026 |
| Wells Fargo | Analyst unavailable | $130 | $113.31 | +41.9% | Jul 14, 2026 |
| Guggenheim | John Heinbockel | $125 | $110.44 | +36.4% | Jun 29, 2026 |
| Deutsche Bank | Analyst unavailable | $123 | $91.6 | +34.2% | May 7, 2026 |
| Barclays | Analyst unavailable | $115 | $92.88 | +25.5% | May 7, 2026 |
| UBS | Analyst unavailable | $108 | $89.86 | +17.9% | Feb 5, 2026 |
| Morgan Stanley | Analyst unavailable | $123 | $97.61 | +34.2% | Jan 20, 2026 |
| Barclays | Analyst unavailable | $105 | $87.47 | +14.6% | Jan 7, 2026 |
| UBS | Mark Carden | $120 | $91.66 | +31.0% | Dec 19, 2025 |
| Piper Sandler | Brian Mullan | $111 | $94.4 | +21.1% | Dec 12, 2025 |
| Barclays | Analyst unavailable | $118 | $100.94 | +28.8% | Oct 22, 2025 |
| Bernstein | Danilo Gargiulo | $130 | $101.14 | +41.9% | Oct 22, 2025 |
| Piper Sandler | Analyst unavailable | $114 | $105.18 | +24.4% | Sep 2, 2025 |
| Guggenheim | John Heinbockel | $115 | $102.11 | +25.5% | Aug 26, 2025 |
| Wells Fargo | Edward Kelly | $115 | $101.27 | +25.5% | Aug 13, 2025 |
| Bernstein | Jeffrey Bernstein | $112 | $84.66 | +22.2% | May 29, 2025 |
| Piper Sandler | Brian Mullan | $92 | $83.69 | +0.4% | Nov 18, 2024 |
| Wells Fargo | Edward Kelly | $88 | $78.41 | -4.0% | Oct 8, 2024 |
| Truist Financial | Jake Bartlett | $88 | $72.12 | -4.0% | Aug 15, 2024 |
| Deutsche Bank | Lauren Silberman | $94 | $72.25 | +2.6% | Aug 15, 2024 |
| BMO Capital | Kelly Bania | $87 | $72.25 | -5.1% | Aug 15, 2024 |
| Stephens | Joshua Long | $75 | $60.47 | -18.2% | Nov 8, 2023 |
| BMO Capital | Analyst unavailable | $70 | $52.25 | -23.6% | Aug 19, 2022 |
| Deutsche Bank | Analyst unavailable | $60 | $52.37 | -34.5% | Aug 18, 2022 |
| Truist Financial | Analyst unavailable | $67 | $52.1 | -26.9% | Aug 18, 2022 |
| Deutsche Bank | Analyst unavailable | $58 | $45.11 | -36.7% | May 13, 2022 |
| UBS | Mark Carden | $63 | $47.95 | -31.2% | Nov 11, 2021 |
| Credit Suisse | Lauren Silberman | $70 | $47.95 | -23.6% | Nov 11, 2021 |
| BMO Capital | Kelly Bania | $61 | $45.31 | -33.4% | Sep 17, 2021 |
| Guggenheim | John Heinbockel | $65 | $48.83 | -29.1% | Jun 21, 2021 |
| Wolfe Research | Greg Badishkanian | $62 | $53.94 | -32.3% | May 10, 2021 |
Track every rating change on PFGC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPerformance Food Group Company, through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America. It operates through three segments: Foodservice, Convenience, and Specialty. The company offers beef, pork, poultry, and seafood; frozen food and refrigerated products; dry groceries comprising cleaning and kitchen supplies and disposables; candy, snacks, and beverages; and fresh products, groceries, dairy, bread, beverages, general merchandise, and health and beauty care products, as well as cigarettes and other nicotine products.…
Historical context
All PFGC earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
| DG Dollar General Corporation | FY2027 Q2 · Calendar Q3 2026 | +23.4% | +2.5% | Dollar General Raises FY2026 Outlook After Strong Q2 |
Latest beats and misses
Who reports nextBeat on EPS
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
Get the PFGC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-09-28T14:31:00.888556+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-28T14:31:00.885603+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-28. For educational purposes only; not investment advice.