PFGC FY 2019 Earnings Report — Performance Food Group Company Revenue & Financial Results | Market Cap Arena

Performance Food Group CompanyPFGC

FY 2019 Earnings

Reported August 16, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$19.7B	—	$17.6B	—	12.1%
Op. Income	$283M	—	$254M	—	11.8%
Gross Margin	12.7%	—	13.0%	—	-0.3pp
Net Margin	0.8%	—	1.1%	—	-0.3pp
EPS (Diluted)	$1.59	—	$1.90	—	-16.3%
Free Cash Flow	$178M	—	$227M	—	-21.4%

Revenue Flow

Item	Amount
REVENUE	$19.7B
Cost of Revenue	$17.2B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.2B
Operating Expenses	$2.2B
Cost & Expenses	$19.5B
OPERATING INCOME	$283M
Interest Income	$0
Interest Expense	$65M
Other Income/Expenses	-$65M
INCOME BEFORE TAX	$218M
Income Tax Expense	$52M
Net Income from Continuing Ops	$167M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$167M
D&A	$155M
EBIT	$284M
EBITDA	$439M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$19.7B
Cost of Revenue	$17.2B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$2.2B
Operating Expenses	$2.2B
Cost & Expenses	$19.5B
OPERATING INCOME	$283M
Interest Income	$0
Interest Expense	$65M
Other Income/Expenses	-$65M
INCOME BEFORE TAX	$218M
Income Tax Expense	$52M
Net Income from Continuing Ops	$167M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$167M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$167M
D&A	$155M
EBIT	$284M
EBITDA	$439M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$167M
Depreciation & Amortization	$155M
Stock-Based Compensation	$16M
Deferred Income Tax	$12M
Other Non-Cash Items	$16M
Change in Working Capital	-$48M
OPERATING CASH FLOW	$317M
Capital Expenditure	-$139M
Acquisitions (Net)	-$212M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$1M
NET CASH FROM INVESTING	-$349M
Net Debt Issuance	$66M
Common Stock Repurchased	-$17M
Common Dividends Paid	$0
Other Financing Activities	-$9M
NET CASH FROM FINANCING	$40M
FREE CASH FLOW	$178M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$15M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$1.4B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$951M
Goodwill	$766M
Intangible Assets	$194M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$72M
TOTAL NON-CURRENT ASSETS	$2.0B
TOTAL ASSETS	$4.7B
Account Payables	$1.1B
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$207M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$108M
Other Non-Current Liabilities	$216M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$3.4B
Common Stock	$1M
Additional Paid-In Capital	$867M
Retained Earnings	$431M
Treasury Stock	$0
Accum. Other Comp. Income	-$200.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$1.4B
Net Debt	$1.3B