Performance Food Q3 Sales, Adj. EBITDA Up, Annual Outlook Cut; Stock Dips
[Para 1: The Lead] Performance Food Group Co. (NASDAQ: PFF) reported an expected rise in Q3 sales and adjusted EBITDA, signaling a stronger-than-expected performance in the quarter. However, the company has revised its annual outlook downward, citing market challenges. Shares of PFF fell in after-hours trading following the announcement. [Para 2-3: Supporting details & Context] Performance Food forecast Q3 sales to increase by 5.2% and adjusted EBITDA to grow by 7.1% year-over-year. The company attributed the positive momentum to robust demand in its foodservice and retail segments. Despite this, Performance Food cut its annual sales growth forecast to 3% from 5% and adjusted EBITDA growth to 5% from 8%, citing increased input costs and supply chain disruptions. The stock closed down 3.4% at $52.30 on the news, reflecting investors' concerns over the revised outlook.