$PFGC

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United Natural Foods Beats Fourth-Quarter Earnings Views, Discloses New Buyback Plan

United Natural Foods (UNFI) swung to stronger-than-expected fourth-quarter earnings and announced a share buyback program on Tuesday, while its full-year outlook fell short of Wall Street's expectations.The grocery wholesaler reported adjusted per-share earnings of $0.69 for the quarter ended Aug. 1, compared with a loss of $0.11 a year earlier. The FactSet-polled consensus indicated EPS of $0.62. Revenue fell 0.7% to $7.64 billion, while analysts projected $7.69 billion.The company said its board authorized the repurchase of up to $200 million of shares, replacing the previous program announced four years ago. The stock was up 2.6% intraday, and has advanced about 34% this year."Excluding our planned optimization actions, short-term project work, and the impact of cycling last year's cyber event, our underlying wholesale sales grew in line with our $90 billion target addressable market," Chief Operating Officer Giorgio Matteo Tarditi said during an earnings conference call, according to a FactSet transcript.United Natural Foods' adjusted earnings before interest, taxes, depreciation and amortization jumped 48% to $172 million amid "disciplined execution and solid expense management," Tarditi said on the call. That pushed full-year adjusted EBITDA to $701 million, near the top end of the company's guidance, he said.Last month, foodservice distributor US Foods (USFD) reported stronger-than-expected second-quarter results and affirmed its fiscal 2026 outlook. Performance Food Group's (PFGC) fiscal fourth-quarter earnings and sales rose year over year, though the results missed the Street's estimates.For fiscal 2027, United Natural Foods is projecting adjusted EPS of $3 to $3.50, the midpoint of which is below the consensus of $3.31. Full-year revenue is expected between $31.2 billion and $31.8 billion, while analysts are looking for $31.95 billion.The company reported fiscal 2026 adjusted EPS of $2.65 and net sales of $31.15 billion, compared with $0.71 and $31.78 billion for the prior year.The company is guiding for full-year adjusted EBITDA of $730 million to $780 million."We've achieved significant improvement as we capped the second year of our value creation strategy, with momentum continuing into fiscal 2027," Chief Executive Sandy Douglas told analysts. "In fiscal 2027, we're positioned for another year of continued progress with adjusted EBITDA up high-single digits, sustained free cash flow generation, and lower net leverage while returning to profitable growth."Price: $45.87, Change: $+1.94, Percent Change: +4.42%

$PFGC$UNFI$USFD

Wire40d ago

UBS Adjusts Price Target on Performance Food to $130 From $132, Maintains Buy Rating

Performance Food Group (PFGC) has an average rating of overweight and mean price target of $130.27, according to analysts polled by FactSet.Price: $105.44, Change: $+0.92, Percent Change: +0.88%

$PFGC

Sectors42d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.2% higher.Performance Food Group (PFGC) stock was down 5.7% after the company reported fiscal Q4 adjusted earnings and sales below analysts' expectations.Global-e Online (GLBE) shares were up more than 7% after the company posted higher Q2 non-GAAP earnings and revenue, and raised its 2026 revenue outlook.Brinker International (EAT) stock was up almost 3% after the company posted higher fiscal Q4 non-GAAP earnings and revenue.

$EAT$GLBE$PFGC$XLP$XLY

Sectors42d ago

Sector Update: Consumer

$PFGC

Asia Markets42d ago

Update: US Equity Futures Higher Pre-Bell as Traders Assess Inflation Report

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Wednesday as traders assessed the latest national inflation report, which will be a major factor in the near-term direction of interest rates.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.8% higher.The conflict in the Middle East showed no signs of de-escalating as US Central Command said in a post on X that it disabled a vessel in the Gulf of Oman that was in violation of the US blockade against Iran. In the Red Sea, a small Egyptian-owned cargo vessel was attacked by suspected Iran-backed Houthi forces, causing the deaths of six people, multiple media outlets reported.Traders digested the latest round of earnings, with Amcor (AMCR) posting higher fiscal Q4 adjusted earnings and net sales.Cisco Systems (CSCO) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.17 per share on revenue of $16.84 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $89.07 per barrel and US West Texas Intermediate crude 0.4% higher at $83.53 per barrel.The July consumer price index, released at 8:30 am ET, gained 0.1%, compared with a 0.4% decline in the previous month, and meeting expectations in a survey compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended 0.8% lower, and China's Shanghai Composite finished 0.3% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.In equities, CoreWeave (CRWV) shares were up more than 20% after the company's Q2 results surpassed market expectations. Nebius (NBIS) stock was over 16% higher after the company reported a narrower Q2 loss than analyst estimates. SK hynix (SKHY) shares were up 4.6% after a report from The Asia Business Daily that the company and Samsung Electronics are set to receive investments from Singapore sovereign wealth fund Temasek.On the losing side, Amcor stock was down 1.4% after the company posted its fiscal Q4 financial results. Performance Food Group (PFGC) stock was down 4.9% after the company's fiscal Q4 adjusted earnings and sales fell short of analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$AMCR$CRWV$CSCO$NBIS$PFGC$SKHY

US Markets42d ago

Equity Futures Rise Pre-Bell Ahead of Consumer Inflation Data

The main US equity benchmarks were trending higher in Wednesday's premarket activity as traders await a key inflation report.The S&P 500 was up 0.2%, the Dow Jones Industrial Average edged 0.1% higher, while the Nasdaq added 0.6% before the opening bell. The three indexes finished Tuesday trading lower for a second consecutive session.The official US consumer price index report for July is scheduled to be released at 8:30 am ET. Data are expected to show that consumer inflation increased 0.1% sequentially and 3.4% annually, according to a Bloomberg-compiled consensus.Wall Street is also projecting core CPI - which excludes volatile items such as food and energy -- to advance 0.2% month over month and 2.5% year over year for last month.US Treasury yields were down in premarket action Wednesday, with the two- and 10-year rates retreating 1.5 and 1.6 basis points, respectively, to 4.2% and 4.67%.West Texas Intermediate crude oil increased 0.3% to $83.43 a barrel before the open, while Brent was little changed at $88.95.The International Energy Agency now forecasts global oil demand to drop by 1.6 million barrels a day this year, 510,000 barrels more than its previous estimate last month, as the ongoing closure of the Strait of Hormuz and high crude prices weigh on consumption, the agency said Wednesday.Yemen's Iran-aligned Houthis killed six people in an attack on a container ship in the Bab el-Mandeb Strait, an alternative route to the Strait of Hormuz, CNBC reported. The US Central Command said in a post on X that its forces disabled the steering gear of a cargo vessel that allegedly attempted to transit the Gulf of Oman and breach its Iranian blockade.On Tuesday, secretary of Iran's Supreme National Security Council Mohsen Rezaei reportedly said the Strait of Hormuz will remain closed as long as the US does not accept Tehran's conditions. Previously, Pakistani Defense Minister Khawaja Asif told Bloomberg News that the US and Iran were close to "some sort of an arrangement."Shares of CoreWeave (CRWV) jumped 18% pre-bell after the company overnight reported better-than-expected second-quarter results amid strong demand for cloud computing. Super Micro Computer (SMCI) gained nearly 9% in premarket activity as the company issued an upbeat fiscal 2027 revenue outlook.Cisco Systems (CSCO) is scheduled to report its latest financial results after the markets close, while Nebius (NBIS), Performance Food Group (PFGC), Trimble (TRMB), Brinker International (EAT) and Global-E Online (GLBE) post their earnings before the bell, among others.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the weekly EIA domestic petroleum inventories report at 10:30 am.Gold inclined 0.7% to $4,473 per troy ounce, while bitcoin rose 0.9% to $64,136.

Dow JonesNasdaq CompositeS&P 500$CRWV$CSCO$EAT$GLBE$NBIS$PFGC$SMCI$TRMB

US Markets69d ago

Restaurants, Food Distributors Poised for Mixed Second Quarter, Morgan Stanley Says

US restaurant and food distribution companies likely saw a mixed second quarter, with largely stable industry trends that are masking "signs of strain," Morgan Stanley said in a note e-mailed Wednesday.The stable outlook is supported by Black Box data showing steady same-store sales growth through the June quarter, according to the brokerage. However, there are certain "signs of strain," the firm said in a note to clients. The sectors are facing slowing retail sales and other headwinds. A possible summer cyclosporiasis outbreak could temporarily impact the lettuce supply and deter diners, Morgan Stanley said."We don't see a big change in underlying macro themes near term that could help change the fortunes of some of the more challenged brands," the brokerage wrote. "Larger (quick-service restaurant) we think remains a soft spot; beverage quite strong; fast-casual mixed, but maybe better at the margin; full-service also mixed, but good in absolute; and food (distribution) resilient overall."Morgan Stanley sees Performance Food Group (PFGC) as a preferred name among food distributors. All companies in the brokerage's coverage in this category are likely to have "solid (second) quarters, though bars are higher today," according to the note.The firm sees another "tougher" quarter for franchised fast food companies, with certain exceptions, it said. McDonald's (MCD) and Domino's Pizza (DPZ) are among the names that likely face tougher near-term setups. Beverage continues to be a "bright spot," with Morgan Stanley remaining overweight on Starbucks (SBUX) and Dutch Bros' (BROS) stocks, according to the note.The firm upgraded its rating on Cava Group's (CAVA) shares to overweight from equal weight while downgrading both Chefs' Warehouse (CHEF) and Black Rock Coffee Bar (BRCB) to equal weight from overweight.Cava is among the few companies that Morgan Stanley said it feels "good about most" regarding several key growth metrics, including traffic and unit expansion. "Valuation is defensible, because it remains one of the strongest fundamental stories in restaurants," the brokerage wrote.Although Chefs' Warehouse remains fundamentally strong with a high likelihood of beating its financial guidance, a nearly 60% year-to-date rally has pushed the stock to the high end of its typical valuation range, Morgan Stanley said."Looking at the numbers, there remains a disconnect between (Black Rock Coffee Bar's) growth profile and valuation, but we're aware that narrative, execution, and qualitative concerns can sometimes override that," the brokerage wrote. "For a newly public young company in a large competitive category, hitting guidance isn't enough."Price: $110.83, Change: $-2.16, Percent Change: -1.91%

$BRCB$BROS$CAVA$CHEF$DPZ$MCD$PFGC$SBUX

Wire69d ago

Restaurant Sector Remains Mixed as Stronger Operators Outperform, Morgan Stanley Says

Restaurant and food companies continue to see mixed performance, as stronger operators outperform while weaker brands face ongoing challenges, Morgan Stanley said in a note Wednesday.Recent market shifts, including artificial intelligence and uncertainty around Iran, have led investors to better differentiate between companies still delivering and those that are not, the investment bank said, adding it does not expect any major near-term macroeconomic changes that would improve conditions for challenged brands.Across the industry, large quick-service restaurants remain a weak segment, while beverage companies continue to perform strongly, and fast-casual restaurants are mixed but showing modest improvement, according to the note. Full-service restaurants are also mixed but remain solid overall, and food distributors continue to demonstrate resilience, the investment bank said."Recent slowing in industry data will be a focus, though perhaps short lived and comparisons help as we head into late Q3/Q4 for many and the overall industry," the bank added.Morgan Stanley raised its price target on Starbucks (SBUX) to $111 from $110, Restaurant Brands International (QSR) to $79 from $78, CAVA Group (CAVA) to $90 from $86, and Dutch Bros (BROS) to $88 from $87, while lowering its price target on Domino's Pizza (DPZ) to $370 from $395, and McDonald's (MCD) to $322 from $331.The bank downgraded Black Rock Coffee Bar (BRCB) to equal-weight from overweight and cut its price target to $9 from $22, while upgrading CAVA Group (CAVA) to overweight from equal-weight and raising the price target to $90 from $86. Morgan Stanley downgraded Chefs' Warehouse (CHEF) to equal-weight from overweight while raising its price target to $97 from $83.The bank also increased its price targets on Performance Food Group (PFGC) to $131 from $120, Sysco (SYY) to $88 from $84, and US Foods (USFD) to $103 from $94.Price: $106.99, Change: $+0.82, Percent Change: +0.78%

$BRCB$BROS$CAVA$CHEF$DPZ$MCD$PFGC$QSR$SBUX$SYY$USFD

Research70d ago

Morgan Stanley Raises Price Target on Performance Food Group to $131 From $120, Keeps Overweight Rating

Performance Food Group (PFGC) has an average rating of overweight and mean price target of $124.92, according to analysts polled by FactSet.

$PFGC

Research138d ago

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Performance Food Group Company

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target price by $16 to $119, based on a 10x EV/EBITDA multiple applied to our FY 27 (Jun.) adj-EBITDA estimate (rolled forward from 12x our FY 26 estimate). We raise our FY 26 EPS estimate to $4.59 from $4.57 and lower FY 27's to $4.84 from $6.05. Following strong Q3 results, we reiterate our Buy opinion on our belief that shares are undervalued considering the potential for adj-EBITDA to grow 7% in FY 27. The quarter demonstrated PFGC's ability to navigate a soft restaurant traffic environment through market share gains and favorable mix. Independent restaurant organic case volume grew 6.5%, with new account growth outpacing total case growth, a positive signal for revenue durability. The company's expanding independent restaurant customer base provides a structural tailwind to gross profit growth. We believe PFGC is well positioned to offset food cost inflation through pricing pass-through and continued mix improvement, supporting our outlook for mid-single-digit revenue growth in FY 27.

$PFGC

Research140d ago

Research Alert: Pfgc: Fq3 Total Case Volume Accelerates; Margin Pressured By Operating Expenses

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:FQ3 results were constructive for PFGC, with net sales growing 6.4% to $16.3B (beating consensus) and adjusted EBITDA rising 6.6% to $410.6M (beating $402M consensus), driven by 7.3% independent case volume growth. The EBITDA beat reflects strong execution in core Foodservice and exceptional Convenience segment performance, where adjusted EBITDA surged 34% on procurement efficiencies and new customer wins. Management narrowed FY 26 adjusted EBITDA guidance to $1.90B-$1.93B, suggesting confidence in the floor but limited upside visibility. Management pointed to "accelerating sales and profit growth in fiscal 2027," though no quantified targets were provided. The key debate remains operating expense leverage, as operating expenses grew 8.6% versus 6.4% gross profit growth, compressing margins. While free cash flow of $806M provides balance sheet flexibility, we believe the stock's ability to re-rate higher depends on demonstrating operating leverage as integration costs normalize.

$PFGC

US Markets140d ago

Stocks Rise Pre-Bell, Oil Prices Fall After Report Says US, Iran Nearing Peace Agreement

The main US stock measures were pointing higher in Wednesday's premarket activity, while oil prices declined after a media report said the US and Iran are nearing a potential agreement to end their conflict.The S&P 500 and the Dow Jones Industrial Average rose 0.7% each before the opening bell, while the Nasdaq advanced 1.2%. The indexes finished the previous trading session in the green, with the S&P 500 and the Nasdaq closing with new highs.Washington is nearing an agreement with Tehran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.In a social media post on Tuesday, President Donald Trump said the US is temporarily pausing "Project Freedom," its effort to guide neutral ships locked up in the Strait of Hormuz out of the crucial waterway. Trump noted that the US blockade on Iranian ports will remain in effect.US Defense Secretary Pete Hegseth reportedly said Tuesday that the ceasefire agreement with Iran remained intact despite recently renewed tensions in the Gulf region.West Texas Intermediate crude oil dropped 9.3% to $92.88 a barrel in premarket action, while Brent fell 8.3% to $100.77.Treasury yields slipped before the open, with the two-year rate retreating 7.3 basis points to 3.87% and the 10-year rate off 6.8 basis points to 4.35%.Walt Disney (DIS), Uber Technologies (UBER), CVS Health (CVS), Marriott International (MAR), Johnson Controls International (JCI), Restaurant Brands International (QSR), Kraft Heinz (KHC) and Performance Food Group (PFGC) are some of the major companies scheduled to report their latest financial results before the bell, among others.Arm Holdings (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) post earnings after the markets close.Shares of Advanced Micro Devices (AMD) jumped 18% pre-bell after the chipmaker reported stronger-than-expected first-quarter results. Novo Nordisk's (NVO) US-listed stock climbed 7.5% as the Danish pharmaceutical giant issued an improved full-year sales outlook. Arista Networks (ANET) declined 8.1% after it issued a downbeat second-quarter revenue outlook.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for April at 8:15 am. The weekly EIA domestic petroleum inventories report is out at 10:30 am.Federal Reserve Bank of St. Louis President Alberto Musalem is slated to speak at 9:30 am, while Chicago Fed President Austan Goolsbee speaks at 1 pm.Gold increased 3.1% to $4,710 per troy ounce, while bitcoin moved up 0.8% to $82,210.

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$APP$ARM$CVS$DASH$DIS$JCI$KHC$MAR$NVO$PFGC$QSR$UBER$WBD

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