Mining & Metals
Premium Brands Q1 Adjusted Earnings, Revenues Rise; Bullish On Outlook
Premium Brands Holdings (PBH.TO) reported higher adjusted earnings and revenue in the first quarter, declared a second quarter dividend, and maintained 2026 sales and adjusted EBITDA guidance ranges, while affirming that it expects to exceed its 5-year plan.The company also maintained its 2026 sales and adjusted EBITDA guidance ranges, and affirmed that the company expects to exceed its 5-year plan of 2027 sales and adjusted EBITDA targets of C$10.0 billion and C$1.0 billion, respectively.First quarter adjusted EPS from continuing operations was C$0.83 per share, compared to C$0.70 per share in the corresponding year-ago quarter. The consensus forecast at FactSet was $0.73, but that was against a year earlier $0.68. Adjusted earnings from continuing operations was $42.6 million, compared to $31.3 million in the year-ago quarter.First quarter revenue from continuing operations was C$2.05 billion, compared to C$1.65 billion in the year-ago quarter.Looking ahead, the company affirmed it expects to exceed its 5-year plan of 2027 sales and adjusted EBITDA targets of $10.0 billion and $1.0 billion, respectively.The company's board of directors approved a cash dividend of C$0.85 per share for the second quarter of 2026, which will be payable on July 15, 2026 to shareholders of record at the close of business on June 30, 2026. It is unchanged from the prior quarter."We are pleased with the progress we made in the quarter towards achieving our long-term business objectives and remain very well positioned to meet or exceed our goals and targets for 2026. During the quarter we continued to leverage recent capacity expansions to support new sales initiatives, including a very successful national launch with a key customer. This combined with significant progress being made in improving operating efficiencies at several new production facilities translated into record financial results for the quarter," said George Paleologou, President and CEO.Paleologou added: "We are also pleased to have completed the acquisition of Stampede Culinary Partners during the quarter. The onboarding of Stampede is progressing well, and we are working closely with its leadership team on several growth and synergy initiatives that will enhance its operational and financial performance.""Subsequent to the quarter we closed the sale of our 74% interest in Shaw Bakers for net proceeds of approximately $160 million. This transaction represents the first step in our strategy to monetize non-core investments, from which we expect to ultimately generate well over $1.0 billion in net proceeds."On the acquisitions front, we are evaluating several attractive opportunities, however, any transaction we do will be done within the context of continuing to strengthen our financial position,"Shares in PBH gained 2.5% in Canada yesterday.
$PBH.TO