Performance Food Group Company

Please stand by, your program is about to begin. Good day and welcome to PFG's fiscal year Q1, 2026 earnings conference call. If you would like to ask a question at the conclusion of the prepared remarks, please press the star key followed by the number one on your telephone keypad at any time. I would now like to turn the call over to Bill Marshall Senior Vice President, Investor Relations for PFG. Please go ahead, sir.

Thank you and good morning. We're here with George Holm, PFG CEO, Patrick Hatcher, PFG CFO, and Scott McPherson, PFG COO. We issued a press release this morning regarding our 2026 fiscal first quarter results, which can be found in the investor relations section of our website at pfgc.com. During our call today, unless otherwise stated, we are comparing results to the results in the same period in fiscal 2025. Any reference to 2025, 2026, or specific quarters refers to our fiscal calendar, unless otherwise stated. The results discussed on this call will include GAAP and non-GAAP results adjusted for certain items. The reconciliation of these non-GAAP measures to the corresponding GAAP measures can be found at the back of the earnings release. Our remarks on this call and in the earnings release contain forward-looking statements and projections of future results. Please review the cautionary forward-looking statement section in today's earnings release and our SEC filings for various factors that could cause our actual results to differ materially from our forward-looking statements and projections. With that, I'd now like to turn the call over to George.

Thanks, Bill. Good morning, everyone, and thank you for joining our call today. Performance Food Group is off to a great start in fiscal 2026, building upon the momentum we saw exiting 2025. All three of our operating segments are contributing nicely to our profit performance, and we are seeing a nice combination of revenue performance and margin expansion. This morning, Scott Patrick and I will share an update on our company's progress and provide our thoughts on the industry and external environment. We finished our first quarter with excellent results, including double digit top line growth, acceleration in our independent restaurant case volume, and gross margin expansion. Our diversified approach to the food away from home market continues to pay off as we are seeing broad based market share gains. Our success is a direct result of our team's ability to execute in the current market environment. Within our food service business, independent case growth exceeded 6% propelled by market share wins and increases in customer penetration. We have continued to see case performance in our independent business gain momentum since early in the calendar year. Also, during the final weeks of the quarter, Cormark began shipping deluxe travel stops, the first of two large new account wins that we are onboarding in the convenience space during the fiscal year. Scott will share more details on our progress in the convenience segment in a moment. Our specialty segment continues to navigate the economic backdrop by driving efficiencies through the business, leading to double-digit adjusted EBITDA growth in the quarter. We are seeing pockets of strength in our specialty business, including vending, office coffee, campus, retail, and e-commerce fulfillment channels. Our teams are capitalizing on our PFG1 approach, which encourages collaboration across our business segments to drive revenue and profit growth. We believe we are in the early stages of this initiative, but have already begun to see the benefits due to market share wins, sales growth, and margin expansion. We are investing in our people and technology to support our growth profile. In the first quarter, our food service Salesforce headcount increased about 6% compared to the prior year. We are committed to adding talented Salesforce headcount. The slight deceleration from the fourth quarter to the first quarter was due to normal fluctuation in hiring across the organization. We continue to attract high caliber sales associates and believe this will be an important contributor to our growth in the years ahead. Before turning it over to Scott, who will provide more detail on our results, I'd like to reinforce how pleased I am with our organization and the efforts from our 43,000 associates. Their hard work and dedication directly reflect our company's success. Our diversified structure across the entire food away from home market is well designed to succeed, and I'm excited for the future with PFG. With that, I'll turn it over to Scott. Scott?