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VANCOUVER - Premium Brands Holdings Corporation (TSX:PBH) reported fourth quarter 2024 results that exceeded analyst expectations, with adjusted earnings per share of $1.05 compared to estimates of $0.95 and revenue of $1.64 billion slightly above the $1.6 billion forecast. The company also offered a positive outlook, with full year 2025 revenues guiding higher than analyst estimates.
The specialty food producer and distributor saw record Q4 revenue of $1.64 billion, up 5.4% YoY. Adjusted EBITDA rose 8.4% to $148.7 million. The company highlighted strong organic growth in its U.S. protein and baked goods businesses, with volume increases of 21.9% and 22.4% respectively.
"2024 finished on a strong note driven by our Protein and Bakery Groups’ US sales initiatives, which generated approximately $50 million in sales volume growth in the quarter," said CEO George Paleologou.
For the full year 2024, Premium Brands reported record revenue of $6.47 billion, up 3.3% from 2023. Adjusted EBITDA increased 6.2% to $593.7 million.
Looking ahead, the company provided 2025 guidance for sales of $7.2 billion to $7.4 billion, beating analyst expectations of $7.07 billion, and adjusted EBITDA of $680 million to $700 million.
Premium Brands also announced the acquisition of Denmark Sausage, LLC and declared a Q1 2025 dividend of $0.85 per share.
The stock was down 1.5% following the earnings release.
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