The US Department of Labor reported the consumer price index rose 0.1% in July, matching the Zacks Consensus Estimate, whilst the annual headline CPI increased 3.4%, down from 3.5% in June. Core CPI, excluding food and energy, rose 0.2% monthly and 2.5% annually, both in line with estimates. The benign inflation data may influence the Federal Reserve to maintain current interest rates at its September meeting. Officials will review both July and August figures before deciding. In corporate earnings, Amcor reported adjusted quarterly earnings of $1.23 per share, beating estimates, with revenues of $6.4 billion. Trimble posted $0.86 per share, exceeding the $0.80 estimate. Performance Food Group missed expectations with $1.59 per share earnings.

Performance Food Group reported strong fiscal fourth-quarter results, with net sales rising 6.4% and adjusted EBITDA growing 7.4% to $587.5 million. Net income climbed 23.4% to $162.3 million. The food distributor gained market share across its businesses despite weak restaurant traffic. Independent restaurant case volume increased 5.8%, whilst the convenience segment delivered 10.4% EBITDA growth. For fiscal 2027, Performance Food Group projects sales of $72.5 billion to $73 billion and adjusted EBITDA of $2.125 billion to $2.225 billion. The company expects accelerating profitability driven by customer wins, procurement savings, merger synergies and an additional 53rd fiscal week.

Performance Food Group reported second-quarter revenue of $18.03 billion, missing analyst estimates of $18.12 billion despite posting 6.4% year-on-year growth. The food distribution giant's non-GAAP earnings of $1.59 per share met consensus expectations. The company guided full-year revenue to $72.75 billion at the midpoint, aligning with analyst forecasts. Adjusted EBITDA reached $587.5 million, slightly above the $585.3 million estimate. Sales volumes increased 3.5% year on year, a significant slowdown from 11.9% growth in the prior-year quarter. Free cash flow turned negative at -$806 million, down from $212.6 million a year earlier. Operating margin held steady at 1.8%. The company distributes over 250,000 food products through 155 distribution centres to more than 300,000 customers across North America.