Vancouver / CA. (pbh) Premium Brands Holdings Corporation, a leading producer, marketer and distributor of branded specialty food products, announced its results for the first quarter of 2019.
Highlights for the quarter
- Record revenue of USD 776.6 million representing a 32.8 percent or USD 191.7 million increase as compared to the first quarter of 2018
- Record adjusted Ebitda of USD 60.3 million representing a 39.9 percent or USD 17.2 million increase as compared to the first quarter of 2018. After normalizing for the adoption of the new IFRS-16 accounting standard, the Company’s adjusted Ebitda for the first quarter of 2019 of USD 52.0 million was in line with its expectations
- Adjusted EPS for the quarter decreased to USD 0.52 per share from USD 0.64 per share in the first quarter of 2018 due to the highly seasonal nature of many of the businesses acquired in mid to late 2018 and to the adoption of the new IFRS-16 accounting standard
- Subsequent to the quarter, the Company declared a quarterly dividend of USD 0.525 per share
- Also subsequent to the quarter, the 2019 CEO’s Letter to Shareholders titled «The Long Game» was posted to the Company’s website