Performance Food Group beats profit expectations as gross margin improves, but revenue comes up shy

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Performance Food Group beats profit expectations as gross margin improves, but revenue comes up shy
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Performance Food Group Co. reported Wednesday fiscal third-quarter profit that beat expectations but revenue that came up shy and trimmed its full-year...

Performance Food Group Co.

reported Wednesday fiscal third-quarter profit that beat expectations but revenue that came up shy and trimmed its full-year outlook. The foodservice distribution company’s stock was still inactive in premarket trading. Net income climbed to $80.3 million, or 51 cents a share, from $23.4 million, or 15 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 83 cents was above the FactSet consensus of 71 cents. Sales grew 5.3% to $13.

reported Wednesday fiscal third-quarter profit that beat expectations but revenue that came up shy and trimmed its full-year outlook. The foodservice distribution company’s stock was still inactive in premarket trading. Net income climbed to $80.3 million, or 51 cents a share, from $23.4 million, or 15 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 83 cents was above the FactSet consensus of 71 cents. Sales grew 5.3% to $13.

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