Performance Food Insiders Sold Before 3.9% Earnings Beat
Performance Food Group beat Q1 earnings by 3.9%, posting $1.32 per share against a $1.269 consensus. However, executives sold roughly $4 million in shares at prices between $92.40 and $106.33 in Augus
PFGC Q1 Beat Lands as Insiders Sold at Steep Discount
NEW YORK, November 14 —
Performance Food Group Company (PFGC) beat Q1 FY2027 earnings by 3.9% on November 4, 2026, posting $1.32 against a consensus. Three executives sold roughly $4 million in shares at prices as low as $92.40 through September, only for the stock to trade at $111.17 today, well above every sale price in the period.
- Q1 FY2027 EPS $1.32 actual vs. consensus, a 3.9% beat per 8-K filed November 4, 2026
- $7.91 billion total debt against $40 million cash; TTM free cash flow of $832 million
- Net insider sales of $4.07 million at $92.40 to $106.33 per share, August 20 through September 30, 2026
One Beat Does Not a Trend Make
Performance Food Group distributes food and food-related products across three segments, moving beef, seafood, snacks, and consumer staples to restaurants, convenience stores, and institutional buyers across North America. Its EPS record over four quarters describes a strict alternating pattern: a 10.1% miss, a 2.6% beat, a 0.6% miss, then the recent 3.9% beat. The largest single deviation was the 10.1% miss, when PFGC reported $0.98 against an estimate. The two most recent quarters have tightened close to the consensus line, which could show improving execution or simply precede another miss.
Thin Margins, Heavy Freight
PFGC carries $7.91 billion in total debt against just $40 million in cash, a debt posture uncomfortably thin against gross margins of 12.7% across $65.28 billion in TTM revenue. That margin profile is inherent to food distribution, where the business is volume arbitrage between supplier and customer. TTM free cash flow of $832 million services the debt, but limited headroom constrains how quickly PFGC can repair the balance sheet or absorb a future miss without credit concern. At 16.8x forward earnings and $111.17, a DCF model against that cash flow suggests the valuation prices in execution that the alternating EPS record has not yet confirmed.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| PFGC | $17.5B | 16.8x | +18.2% |
| USFD | $23.3B | 19.6x | +52.2% |
| CHEF | $4.6B | 35.0x | +84.8% |
| ARMK | $14.2B | 19.2x | +49.7% |
| POST | $3.6B | 11.3x | -23.3% |
| JJSF | $1.7B | 22.4x | +5.2% |
What Q2 Has to Confirm
Named executives sold in overlapping waves: Donald Bulmer, Brent King, and Erika Davis sold at $103.99 to $106.33 in August; September transactions by Hugh Hatcher came at $99.16, with Chasity Grosh's late-September sale at $92.40 marking the lowest price in the filing record. All occurred below today's $111.17. The analyst consensus sits at $128.58. Next quarter's EPS is the binary checkpoint: a beat would begin to break the alternating pattern; a miss would confirm it. Run the free Performance Food Group Company deep-dive →
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Frequently Asked Questions
What were Performance Food Group's Q1 FY2027 earnings?
Performance Food Group beat Q1 FY2027 earnings, posting $1.32 per share against a $1.269 consensus estimate, a 3.9% beat. The company reported this on November 4, 2026.
What does the insider selling signal?
Executives sold $4 million in shares at prices between $92.40 and $106.33 from August to September 2026. The stock now trades at $111.17, above all sale prices. The article notes this doesn't necessarily break the company's alternating pattern of earnings misses and beats.
Does Performance Food have financial concerns?
The company carries $7.91 billion in total debt against just $40 million in cash, with gross margins of 12.7% and TTM free cash flow of $832 million. The article notes this debt profile is uncomfortably thin for food distribution.
What's the risk to Performance Food's valuation?
At 16.8x forward earnings, the stock's valuation assumes execution that the company's alternating earnings pattern has not yet confirmed. The company's EPS record shows: a 10.1% miss, a 2.6% beat, a 0.6% miss, then the recent 3.9% beat.
Performance Food Group beat first-quarter fiscal 2027 earnings estimates by 3.9% on November 4, 2026 — yet insiders who sold roughly $4 million in shares at prices as low as $92.40 through September now appear to have sold at a discount to the current $111.17, while the company sits on $7.91 billion in debt against just $40 million in cash.