Plus   Neg

Performance Food Group Withdraws FY20 Outlook - Quick Facts

Providing an update on its business and financial position due to the coronavirus pandemic (COVID-19), Performance Food Group Co. or PFG (PFGC) on Thursday decided to withdraw its full year 2020 outlook as the macroeconomic environment has deteriorated.

However, the company added that it is on track to meet the previously disclosed and affirmed expectations.

PFG said it plans to provide additional information on its third quarter earnings call based on the information available at that time on May 6, 2020.

"Furthermore, while the full impact of COVID-19 is currently unknown, we are confident that we have ample liquidity under our debt facilities even if conditions continue to worsen. Covenants under our bonds do not require us to maintain any liquidity or other financial metrics," said George Holm, Chairman, President & CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Pizza Hut's large Original Pan Pizza is now available at locations across the U.S. for $10.99. The fast food chain, a subsidiary of Yum! Brands Inc., said that fans can now get a large Original Pan Pizza with up to three of their favorite toppings, without needing to stretch their wallets. The Original Pan Pizza is a buttery golden-brown color. The U.S. Food and Drug Administration approved the first drug to treat adults and children aged 12 years and older with hypereosinophilic syndrome for six months or longer without another identifiable non-blood related cause of the disease. GlaxoSmithKline's Nucala (mepolizumab) is the first FDA-approved drug in nearly 14 years to treat this group of rare and debilitating blood diseases. Uber has won a legal battle to continue to operate in London, one of its largest markets. The ride-hailing company has been granted an 18-month license to operate in London after overturning the ban on an appeal for the second time. The Westminister Magistrates Court found Uber London Ltd. a "fit and proper" company to run the services in London.
Follow RTT