Performance Food Group Company (NYSE:PFGC) Q1 2023 Results Conference Call November 9, 2022 9:00 AM ET

Company Participants

Bill Marshall - Vice President, Investor Relations

George Holm - CEO

Jim Hope - CFO

Patrick Hatcher - Vistar, President and COO

Conference Call Participants

Edward Kelly - Wells Fargo

John Heinbockel - Guggenheim Partners

Brian Harbour - Morgan Stanley

Mark Carden - UBS

Jeffrey Bernstein - Barclays

Andrew Wolf - CL King

Lauren Silberman - Credit Suisse

Kelly Bania - BMO Capital Markets

Nicole Miller - Piper Sandler

Joshua Long - Stephens Inc.

Peter Saleh - BTIG

Carla Casella - JPMorgan

Jake Bartlett - Truist Securities

Operator

Good day, and welcome to PFG's Fiscal Year Q1 2023 Earnings Conference Call [Operator Instructions].

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

Bill Marshall

Thank you, Shelby, and good morning. We're here with George Holm, PFG's CEO; Jim Hope, PFG's CFO; and Patrick Hatcher, Vistar President and COO. As previously announced, Patrick will be assuming the CFO role for PFG at the start of the calendar year.

We issued a press release regarding our 2023 fiscal first quarter results this morning, which can be found in the Investor Relations section of our Web site at pfgc.com. During our call today, unless otherwise stated, we are comparing results to the same period in our 2022 fiscal first quarter. As a reminder, in the second quarter of fiscal 2022, we changed our operating segments to reflect how we manage the business. The 2022 fiscal first quarter results have been restated to reflect the segment change. 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. With this fiscal quarter, we have updated our segment reporting metrics to adjusted EBITDA from the prior EBITDA metric. Segment results for the fiscal first quarter of 2023 and the fiscal first quarter of 2022 now 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.