Description

Performance Food Group’s $68 Billion Sales Guide: Can Foodservice Momentum Offset Cheney Costs?

Performance Food Group Company reported its fiscal third quarter results for 2026, reflecting a nuanced performance across its three operating segments—Foodservice, Convenience, and Specialty—within a challenging macroeconomic environment marked by soft restaurant foot traffic, inflationary pressures, weather disruptions, and political uncertainties. The Foodservice segment demonstrated resilient growth with disciplined margin management, contributing to high single-digit EBITDA growth excluding Cheney Brothers. Independent case growth accelerated to 6.5%, surpassing the company’s 6% benchmark, driven by both new account gains (5.4%) and increased penetration within existing accounts. Sales execution and market share gains remained key strengths. However, the integration of Cheney Brothers introduced higher-than-anticipated expenses due to the rollout of a new distribution facility in Florence, South Carolina, causing an operational drag in the third quarter and expected to persist into the fourth quarter.