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Performance Food Group profit misses consensus by 30.2% in fiscal Q2

Performance Food Group Company said its normalized net income for the fiscal second quarter ended Dec. 26, 2015, was 18 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS increased 14.0% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $18.4 million, an increase of 30.5% from $14.1 million in the prior-year period.

The normalized profit margin climbed to 0.5% from 0.4% in the year-earlier period.

Total revenue climbed on an annual basis to $3.89 billion from $3.79 billion, and total operating expenses rose from the prior-year period to $3.84 billion from $3.75 billion.

Reported net income increased 29.8% on an annual basis to $17.1 million, or 17 cents per share, from $13.1 million, or 15 cents per share.