Premium Brands Holdings Corporation Reports Record Second Quarter Results Two Acquisitions And Declares Third Quarter Dividend

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Premium Brands Holdings Corporation Reports Record Second Quarter Results Two Acquisitions And Declares Third Quarter Dividend

by pmnationtalk on August 5, 202220 Views

VANCOUVER, B.C., August 5, 2022. Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today its results for the second quarter of 2022.

SECOND QUARTER HIGHLIGHTS

  • Record second quarter revenue of $1.52 billion representing a 23.1%, or $285.2 million, increase as compared to the second quarter of 2021
  • Record second quarter adjusted EBITDA1 of $130.8 million representing a 16.6%, or $18.6 million, increase as compared to the second quarter of 2021
  • Record second quarter adjusted EPS1 of $1.38 per share representing a 12.2%, or $0.15 per share, increase as compared to the second quarter of 2021
  • The Company increased its 2022 revenue guidance range to $5.75 billion to $6.0 billion and maintained its 2022 adjusted EBITDA guidance range of $510.0 million to $530.0 million
  • Clearwater Seafoods generated record second quarter adjusted EBITDA of $31.3 million and earnings before distributions to shareholders of $10.7 million
  • The Company announced the acquisitions of King’s Command, an Ohio based cooked protein manufacturer, and Golden Valley Farms, an Ontario based deli meats manufacturer
  • The Company declared a dividend of $0.70 per share for the third quarter of 2022

1 The Company reports its financial results in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. 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.

NT4

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