Performance Food Group Company (NYSE:PFGC) is trading lower after the company reported worse-than-expected second-quarter earnings results.
Net sales for the second quarter of fiscal 2024 grew 2.9% year over year to $14.296 billion, marginally beating the analyst consensus of $14.275 billion.
In the quarter under review, the company saw a decrease in selling price per case due to a 1.4% deflation in the Foodservice segment. Overall product cost inflation for the company was approximately 3.6%.
Adjusted earnings per share of 90 cents missed the analyst consensus ...