Performance Food Group Specialty sales rise on vending, campus growth

Performance Food Group said growth in vending and other on-the-go channels helped lift results in its Specialty segment during the third quarter of fiscal 2026, even as higher operating costs pressured profitability.

For the quarter ended March 28, 2026, Performance Food Group’s Specialty segment net sales increased 5.3% to $1.2 billion compared with the prior-year period. The company attributed the increase primarily to a higher selling price per case tied to inflation and a shift in channel mix, with growth in vending, campus, travel stores and concessions. That growth was partially offset by sales declines in value stores and office supply channels.

Specialty cases sold rose 1.1% year over year, driven by gains in vending, campus, travel stores and concessions, partially offset by declines in value stores and office supply.

Segment Adjusted EBITDA for Specialty decreased 5.6% to $73.5 million. Performance Food Group said the decline was driven by higher operating expenses, partially offset by higher gross profit. Gross profit contributing to Specialty’s Adjusted EBITDA increased 3.0%, which the company linked to procurement-related pricing improvements and a favorable shift in channel mix. Performance Food Group also noted a decrease in inventory holding gains in the segment.

Operating expenses impacting Specialty’s Adjusted EBITDA increased 8.4% in the quarter, primarily due to higher personnel costs tied to wages and benefits, along with higher outbound freight expense.

Across the company, Performance Food Group reported third-quarter fiscal 2026 net sales of $16.3 billion, up 6.4% year over year, and Adjusted EBITDA of $410.6 million, up 6.6%.

PFG outlook beyond its Specialty segment

As a whole, Performance Food Group reported a solid fiscal 2026 third quarter, with net sales up 6.4% to $16.3 billion and total case volume up 4.4%, while Adjusted EBITDA increased 6.6% to $410.6 million; net income fell to $41.7 million as operating expenses rose.

On the convenience side, PFG had some standout “tasty” wins:

• Convenience segment sales jumped 8.7% to $6.2 billion
• Cases rose 8.8% (8.3% organic) on new chain customer adds
• Convenience Adjusted EBITDA surged 34.1% to $100.2 million, helped by procurement efficiencies, inventory gains and manufacturer income