Performance Food Backs FY17 Profit View

(RTTNews) - Performance Food Group Company (PFGC) confirmed its fiscal 2017 Adjusted earnings per share growth outlook to be in a range of 27% to 31% to $1.23 to $1.27 on a 52 week to 52 week basis versus a comparable Fiscal 2016 Adjusted Diluted EPS of $0.97.

The company also confirmed fiscal 2017 Adjusted earnings per share growth outlook to be in a range of 24% to 28% to $1.24 to $1.28 on a 52 week to 53 week basis versus a comparable 53 week fiscal 2016 Adjusted Diluted EPS of $1.00. Analysts polled by Thomson Reuters expect the company to report earnings of $1.22 per share. Analysts' estimates typically exclude special items.

PFG confirmed its fiscal 2017 full-year Adjusted EBITDA growth outlook to be in the 7% to 9% range on a 52 week to 52 week basis. On a 52 week to 53 week basis, the company confirms its Adjusted EBITDA growth to be in the 5% to 7% range.

PFG also confirmed its second-half fiscal 2017 Adjusted EBITDA growth outlook to be in the mid-to-high teens range versus the second half of fiscal 2016, excluding the extra week. PFG expects that adjusted EBITDA growth will build sequentially from the third to fourth quarter of fiscal 2017.