U.S. Food Distribution Stocks Plunge Over 5% Ahead of Earnings, Losing 1 Trillion Won in a Day

U.S. food distributor Performance Food Group Co. (NYSE: PFGC) closed at $83.66 on the New York Stock Exchange, down 5.67%, erasing roughly $700 million in market capitalization—nearly KRW 1 trillion. Its current market cap stands at about $13.1 billion (around KRW 18 trillion), and trading volume for the day was roughly 1.178 million shares.

In its February 4 report for the second quarter of fiscal 2026, the company posted earnings per share of $0.98, below the market consensus of $1.07, and lowered its full-year guidance, highlighting margin pressures. Ahead of its third-quarter earnings release before the market opens on May 6, Wall Street consensus forecasts EPS of $0.78 and revenue near $16.1 billion, fueling investor anxiety.

Founded in 1885, Performance Food Group is a leading U.S. foodservice distributor supplying restaurants, convenience stores and schools nationwide. Headquartered in Richmond, Virginia, it went public on the NYSE in 2015. Recently, the company has grown aggressively through acquisitions, including convenience-store distributor Core-Mark and Florida-based foodservice supplier Cheney Brothers.