Premium Brands Holdings Corporation Reports Record Fourth Quarter Sales And Adjusted Ebitda, Announces Acquisition And Declares First Quarter Dividend
Press Release
VANCOUVER, B.C., March 21, 2025. Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today its results for the fourth quarter of 2024.
FOURTH QUARTER HIGHLIGHTS
- Record fourth quarter revenue of $1.64 billion representing a 5.4%, or $84.4 million, increase as compared to the fourth quarter of 2023
- Solid progress on Specialty Foods’ core U.S. growth initiatives in protein and baked goods, which for the quarter generated organic volume growth rates of 21.9% and 22.4%, respectively. Specialty Foods’ sandwich sales were relatively flat as volume growth in the club store channel and higher selling prices were offset by consumer demand related challenges in the foodservice channel
- Record fourth quarter adjusted EBITDA1 of $148.7 million representing an 8.4%, or $11.5 million, increase as compared to the fourth quarter of 2023
- Fourth quarter adjusted EPS1 of $1.05 per share representing a 23.5%, or $0.20 per share, increase as compared to the fourth quarter of 2023
- 2025 sales and adjusted EBITDA1 guidance ranges of $7.2 billion to $7.4 billion, and $680 million to $700 million, respectively
- Declared a dividend of $0.85 per common share for the first quarter of 2025
- Subsequent to the quarter, completed the acquisition of Denmark Sausage, LLC
2024 HIGHLIGHTS
- Record revenue of $6.47 billion representing a 3.3%, or $209.5 million, increase as compared to 2023
- Record adjusted EBITDA1 of $593.7 million representing a 6.2%, or $34.6 million, increase as compared to 2023
- Adjusted EBITDA margin1 of 9.2%, up from 8.9% in 2023
- Adjusted EPS1 of $3.98 per share representing a 1.2%, or $0.05 per share, decrease as compared to 2023
- The Company reports its financial results in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS Standards). Adjusted EBITDA and adjusted EPS are non-IFRS financial measures. Reconciliations and explanations for all non-IFRS measures are included in the Non-IFRS Financial Measures section of this press release.
QUESTIONS AND ANSWERS SESSION
The Company will hold a Q&A session on its fourth quarter 2024 results today at 10:30 a.m. Vancouver time (1:30 p.m. Toronto time). Management’s pre-recorded remarks and an investor presentation that will be referenced on the conference call are available here or by navigating through the Company’s website at www.premiumbrandsholdings.com.
Access to the Q&A session may be obtained by calling the operator at (289) 514-5100 or (800) 717-1738 (Conference ID: 60180) up to ten minutes prior to the scheduled start time. For those who are unable to participate, a recording of the conference call will be available through to 11:59 p.m. Toronto time on April 21, 2025 at (289) 819-1325 or (888) 660-6264 (passcode: 60180#). Alternatively, a recording of the conference call will be available on the Company’s website at www.premiumbrandsholdings.com.
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