Performance Food Group Company (NYSE:PFGC) Q4 2024 Earnings Conference Call August 14, 2024 9:00 AM ET

Company Participants

Bill Marshall - Vice President, Investor Relations
George Holm - Chairman and Chief Executive Officer
Patrick Hatcher - Executive Vice President and Chief Financial Officer

Conference Call Participants

Kelly Bania - BMO Capital
Alex Slagle - Jefferies
Edward Kelly - Wells Fargo
John Heinbockel - Guggenheim Securities
Andrew Wolf - CL King
Mark Carden - UBS
Lauren Silberman - Deutsche Bank
Jeffrey Bernstein - Barclays
Brian Harbour - Morgan Stanley
Carla Casella - J.P. Morgan
Jake Bartlett - Truist Securities

Operator

Good day, and welcome to PFG’s Fiscal Year Q4 2024 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, and good morning. We’re here with George Holm, PFG’s CEO; and Patrick Hatcher, PFG’s CFO.

We issued a press release this morning regarding our 2024 fiscal fourth quarter results, 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 results in the same period in fiscal 2023. 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 in 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. 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.

We have a good deal of material to cover this morning, and hopefully, you all had a chance to review the announcements we made earlier today. To ensure we can touch on each topic, we are adjusting the format of this call. I will start with a discussion of our M&A activity, including our agreement to acquire Cheney Brothers as part of our long-term acquisition strategy. Patrick, will then review our financials, including the anticipated impact from the transaction, in addition to our reported results and outlook for fiscal 2025. I will then come back for some closing comments on the state of our business and the industry.