Premium Brands Holdings Corp

Latest Results (14.08.2024):

Record Revenue

Premium Brands Holdings Corporation reported a record second quarter revenue of $1.70 billion for 2024. This represents a 4.4%, or $71.8 million, increase compared to the second quarter of 2023. The growth was driven by strong performance in the Specialty Foods segment, particularly in the U.S. market.

Adjusted EBITDA Growth

The company achieved a record second quarter adjusted EBITDA of $164.6 million, marking an 8.0%, or $12.2 million, increase from the same period in 2023. The adjusted EBITDA margin improved to 9.7%, up from 9.3% in the second quarter of the previous year, indicating better operational efficiency.

Adjusted EPS Increase

Premium Brands Holdings Corporation reported an adjusted EPS of $1.28 per share for the second quarter of 2024. This represents a slight increase of 0.8%, or $0.01 per share, compared to the second quarter of 2023. The steady growth in EPS reflects the company's strong financial performance and profitability.

Dividend Declaration

The Board of Directors of Premium Brands Holdings Corporation declared a dividend of $0.85 per common share for the third quarter of 2024. This dividend will be payable on October 15, 2024, to shareholders of record at the close of business on September 30, 2024, continuing the company's commitment to returning value to its shareholders.

Specialty Foods Segment Performance

The Specialty Foods segment of Premium Brands Holdings Corporation showed significant progress, with core U.S. growth initiatives in sandwiches, protein, and baked goods generating an organic volume growth rate of 12.9%. This segment achieved total sales of $661.4 million for the second quarter of 2024, highlighting its role as a major driver of the company's overall growth.