Performance Food Group Rises 6% On Higher Quarterly Profit And Sales

Shares of food distribution firm Performance Food Group Company (PFGC) are rising more than 6% Wednesday morning after reporting improved fourth quarter results.

Net income in the quarter significantly increased to $150.1 million or $0.96 per share from $76 million or $0.49 per share in the same quarter a year ago.

Excluding special items, earnings were $1.14 per share, in line with the average estimate of analysts polled by Thomson-Reuters.

Net sales increased 2% to $14.865 billion. The consensus estimate was for $15.07 billion.

PFGC, currently at $61.35, has traded in the range of $42.77 – $63.22 in the last 1 year.

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