Performance Food Group's stock plummeted 12.15% in pre-market trading on Wednesday, following the release of its fiscal second-quarter financial results.

The sharp decline came after the company reported adjusted earnings per share of $0.98 for the quarter, which missed the analyst consensus estimate of $1.09. Net sales for the quarter reached $16.44 billion, representing a year-over-year increase but falling short of the $16.54 billion expected by analysts. Additionally, the company's adjusted EBITDA of $451.2 million came in below the estimated $464.5 million.

Adding to investor concerns, Performance Food Group revised its full-year fiscal 2026 net sales guidance downward to a range of $67.25 billion to $68.25 billion, from its previous outlook of $67.5 billion to $68.5 billion. The combination of these earnings and sales misses, coupled with the reduced annual sales forecast, drove the stock's significant downward movement.