New York, Feb 13, 2026, 09:38 EST — Regular session
- Performance Food Group shares barely budged early Friday, following a sharp surge the day before.
- US Foods’ latest quarterly report put food distributors back in focus.
- PFG expects to wrap up its $1.06 billion debt refinancing next week.
Performance Food Group (PFGC) held steady at $97.97 in Friday’s early session, following Thursday’s jump that nearly reclaimed the $100 level. 1
Timing’s key here. This week, food distributor stocks stirred as investors hunted for clear reads on restaurant demand, price movement and the kind of margin pressure that can hit low-margin players without much warning.
PFG’s surge on Thursday stood out, even for the sector. Now, with a debt refinancing on deck and investors sorting through earnings-season crosscurrents, traders are eyeing whether the gains stick.
US Foods, a major competitor to PFG, posted stronger fourth-quarter results, with profit and revenue both climbing. Adjusted earnings landed at $1.04 per share. 2
Sysco ended Thursday at an all-time high, bucking the broader U.S. market’s slump and offering a rare bit of green in the sector. 3
PFG has a key date coming up soon. The company announced it had priced $1.06 billion in 5.625% senior notes due 2034, targeting a Feb. 19 closing. Proceeds are set to go toward redeeming its 5.500% notes maturing in 2027. Senior notes stand above other company debt if things head south. 4
The notes, according to an SEC filing, are set to be sold under Rule 144A and Regulation S—methods that let companies tap institutional buyers without registering the debt for public sale in the U.S.—and will carry guarantees from the parent and some subsidiaries. The filing also highlights ongoing challenges for the business, pointing to volatile commodity prices and the notoriously slim margins in food distribution. 5
PFG posted a 5.2% jump in net sales to $16.4 billion for its fiscal second quarter earlier this month, while adjusted EBITDA climbed 6.7% to $451.2 million. The company tightened its fiscal 2026 forecasts for both metrics. CEO Scott McPherson weighed in: “Solid second quarter results positioned the organization well for the remainder of the fiscal year.” 6
Still, the setup has its snags. During the earnings call, executives flagged integration and infrastructure investments related to Cheney Brothers running above forecasts. Add in margin pressure from falling prices in categories like cheese and poultry, and suddenly, volume growth doesn’t guarantee profit. 7
At this point, Thursday’s move is being seen more as a reset than a final judgment. Investors are waiting to see if the post-earnings story changes once peer results arrive and as PFG’s refinancing wraps up.
