By Rob Curran

Performance Food Group's fiscal third-quarter net income fell as acquisition-related costs offset increased sales, leading the food service distributor to narrow the range of its expected sales for the year.

The food service distributor posted earnings for the quarter ended March 28 of $41.7 million, or 27 cents a share, down from $58.3 million, or 37 cents a share, a year earlier.

Stripping out certain one-time items such as acquisition, integration and reorganization expenses, Performance Food posted adjusted earnings of 80 cents a share, exceeding the mean Wall Street target of 77 cents a share, as tallied by FactSet.

Sales rose 6.4% to $16.29 billion, topping the average analyst target of $16.17 billion, as per FactSet.

Case volume rose 4.4%.

PFG narrowed its sales projection for the fiscal year ending in June to a range between $67.7 billion and $68 billion from a prior projected range between $67.25 billion and $68.25 billion. That compares to the average analyst target of $67.59 billion.

In May, PFG's board approved a share buyback program for up to $500 million.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

May 06, 2026 07:27 ET (11:27 GMT)

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