PFGC Q4 2019 Earnings Report — Performance Food Group Company Revenue & Financial Results | Market Cap Arena

Performance Food Group CompanyPFGC

Q4 2019 Earnings

Reported August 16, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2019	Q3 2019	Q4 2018	QoQ Change	YoY Change
Revenue	$5.9B	$4.7B	$4.6B	25.8%	28.4%
Op. Income	$101M	$59M	$94M	69.8%	7.1%
Gross Margin	11.9%	12.9%	13.3%	-1.0pp	-1.4pp
Net Margin	1.1%	0.7%	1.4%	0.4pp	-0.3pp
EPS (Diluted)	$0.60	$0.31	$0.61	93.5%	-1.6%
Free Cash Flow	$11M	$158M	$71M	-93.1%	-84.5%

Revenue Flow

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$5.2B
GROSS PROFIT	$700M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$600M
Operating Expenses	$600M
Cost & Expenses	$5.8B
OPERATING INCOME	$101M
Interest Income	$0
Interest Expense	$17M
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$83M
Income Tax Expense	$20M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$63M
D&A	$43M
EBIT	$100M
EBITDA	$143M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.9B
Cost of Revenue	$5.2B
GROSS PROFIT	$700M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$600M
Operating Expenses	$600M
Cost & Expenses	$5.8B
OPERATING INCOME	$101M
Interest Income	$0
Interest Expense	$17M
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$83M
Income Tax Expense	$20M
Net Income from Continuing Ops	$63M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$63M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$63M
D&A	$43M
EBIT	$100M
EBITDA	$143M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$63M
Depreciation & Amortization	$43M
Stock-Based Compensation	$4M
Deferred Income Tax	$9M
Other Non-Cash Items	$100.0K
Change in Working Capital	-$62M
OPERATING CASH FLOW	$57M
Capital Expenditure	-$46M
Acquisitions (Net)	-$154M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$300.0K
NET CASH FROM INVESTING	-$200M
Net Debt Issuance	$157M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$7M
NET CASH FROM FINANCING	$150M
FREE CASH FLOW	$11M
Net Change in Cash	$7M

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