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PFG NEWS RELEASE Performance Food Group Exhibit 99.1 For Immediate Release February 3 , 2021 Investors : William S. Marshall VP , Investor Relations ( 804 ) 287-8108 Bill.Marshall@pfgc.com Media : Trisha Meade Director , Communications & Engagement ( 804 ) 285-5390 mediarelations@pfgc.com Performance Food Group Company Reports Second - Quarter and First - Half Fiscal 2021 Results Double - Digit Net Sales and Gross Profit Growth Driven by Reinhart Acquisition Second - Quarter Fiscal 2021 Highlights • Total case volume grew 8.4 % • Net sales increased 12.8 % to $ 6.8 billion • Gross profit improved 14.0 % to $ 811.1 million • Net income declined 57.3 % to $ 17.6 million . Adjusted EBITDA increased 10.6 % to $ 158.0 million¹ • Diluted Earnings Per Share ( " EPS ” ) decreased 66.7 % to $ 0.13 • Adjusted Diluted EPS declined 39.7 % to $ 0.351 First - Half Fiscal 2021 Highlights • Total case volume grew 8.7 % • Net sales increased 12.8 % to $ 13.9 billion Gross profit improved 14.3 % to $ 1.6 billion . Net income declined 78.1 % to $ 16.9 million • Adjusted EBITDA increased 8.4 % to $ 293.2 million¹ • Diluted EPS declined 82.2 % to $ 0.13 Adjusted Diluted EPS declined 47.4 % to $ 0.60 1 RICHMOND , Va . - Performance Food Group Company ( " PFG " or the " Company " ) ( NYSE : PFGC ) today announced its second - quarter and first - half fiscal 2021 business results . “ I am proud of how our Company has continued to navigate through the current market conditions and distinguish ourselves as leaders in the food distribution industry , " said George Holm , PFG's Chairman , President & Chief Executive Officer . “ Despite the new challenges the holiday season brought for our business , our Foodservice segment still delivered a solid quarter while continuing the smooth integration of Reinhart . Looking ahead , I believe PFG is well - positioned to take advantage of a better operating environment in the not - too - distant future . " 1 This earnings release includes several metrics , including EBITDA , Adjusted EBITDA , Adjusted Diluted Earnings per Share and Free Cash Flow that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. ( " GAAP " ) . Please see " Statement Regarding Non - GAAP Financial Measures " at the end of this release for the definitions of such non - GAAP financial measures and reconciliations of such non - GAAP financial measures to their respective most comparable financial measures calculated in accordance with GAAP . 1