Performance Food Group Company (NYSE:PFGC) Q3 2023 Earnings Conference Call May 10, 2023 9:00 AM ET

Company Participants

Bill Marshall – Vice President-Investor Relations

George Holm – Chief Executive Officer

Patrick Hatcher – Chief Financial Officer

Conference Call Participants

John Heinbockel – Guggenheim Securities

Edward Kelly – Wells Fargo

Alex Slagle – Jefferies

Kelly Bania – BMO Capital Markets

Brian Harbour – Morgan Stanley

Mark Carden – UBS

Andrew Wolf – C.L. King

Lauren Silberman – Credit Suisse

Joshua Long – Stephens, Inc.

Operator

Good day, and welcome to PFG’s Fiscal Year Q3 2023 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Bill Marshall, Vice President of Investor Relations for PFG. Please go ahead, sir.

Bill Marshall

Thank you, and good morning. We’re here with George Holm, PFG’s CEO; and Patrick Hatcher, PFG’s CFO. We issued a press release regarding our 2023 fiscal third quarter results this morning, which can be found in the Investor Relations section of our website at pfgc.com.

During our call today, unless otherwise stated, we are comparing results to the same period in our 2022 fiscal third quarter. As a reminder, in the second quarter of fiscal 2022, we changed our operating segments to reflect how we manage the business. The results discussed on this call will include GAAP and non-GAAP results adjusted for certain items. The reconciliation of these non-GAAP measures to the corresponding GAAP measures can be found at the back of the earnings release.

As a reminder, in the fiscal first quarter of 2023, we updated our segment reporting metrics to adjusted EBITDA from the prior EBITDA metric. Accordingly, the segment results for the third quarter of 2022 have been restated to reflect this change. Our remarks on this call and in the earnings release contain forward-looking statements and projections of future results. Please review the cautionary Forward-looking Statements section in today’s earnings release and our SEC filings for various factors that could cause our actual results to differ materially from our forward-looking statements and projections.

Now I’d like to turn the call over to George.

George Holm

Thanks, Bill. Good morning, everyone, and thank you for joining our call today. I’m excited to speak to you today about our fiscal third quarter results and outlook for the remainder of the fiscal year. Once again, our organization executed at a high level, producing strong financial results.