Performance Food Group Co Earnings Per Share Disclosure
17. Earnings Per Common Share
Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. The Company’s potential common shares include outstanding stock-based compensation awards and expected issuable shares under the employee stock purchase plan. In computing diluted earnings per common share, the average closing stock price for the period is used in determining the number of shares assumed to be purchased with the assumed proceeds under the treasury stock method. Potential common shares of 0.1 million for both the fiscal years ended June 28, 2025 and June 29, 2024 were not included in computing diluted earnings per common share because the effect would have been antidilutive. No potential common shares were considered antidilutive for the fiscal year ended July 1, 2023.
A reconciliation of the numerators and denominators for the basic and diluted earnings per common share computations is as follows:
(In millions, except per share amounts) |
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Fiscal Year Ended June 28, 2025 |
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Fiscal Year Ended June 29, 2024 |
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Fiscal Year Ended July 1, 2023 |
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Numerator: |
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Net income |
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$ |
340.2 |
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$ |
435.9 |
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$ |
397.2 |
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Denominator: |
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Weighted-average common shares outstanding |
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154.8 |
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154.4 |
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154.2 |
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Dilutive effect of potential common shares |
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1.6 |
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1.6 |
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1.9 |
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Weighted-average dilutive common shares outstanding |
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156.4 |
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156.0 |
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156.1 |
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Basic earnings per common share |
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$ |
2.20 |
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$ |
2.82 |
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$ |
2.58 |
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Diluted earnings per common share |
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$ |
2.18 |
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$ |
2.79 |
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$ |
2.54 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 13, 2025 | Showing above |
| 2024 | Aug 14, 2024 | |
| 2023 | Aug 16, 2023 | |
| 2022 | Aug 19, 2022 | |
| 2021 | Aug 24, 2021 | |
| 2020 | Aug 18, 2020 | |
| 2019 | Aug 16, 2019 | |
| 2018 | Aug 16, 2018 | |
| 2017 | Aug 25, 2017 | |
| 2016 | Aug 30, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.