TSX:PBH - Post Discussion
Post by
retiredcf on May 06, 2022 10:43am
RBC
Have a $126.00 target. GLTA
May 6, 2022
Premium Brands Holdings Corp. Q1 results largely in line with RBC/consensus
Sentiment: Neutral
First impression: Premium Brands Holdings Corp. (“PBH”) reported Q1 sales that were largely in line with RBC and consensus forecasts. Adjusted EBITDA of $95.8MM was also in line with RBC/consensus forecasts of $97.3MM/$94.6MM, while Adjusted EBITDA margin of 7.7% was in line with the consensus forecast of 7.7%. On a consolidated basis, SG&A as a % of sales and gross profit margin % were in line with our forecasts (while Investment Income of $14.8MM was modestly above our forecast of $13.0MM), driving Adjusted EBITDA largely in line with forecasts. See Exhibit 1 for results details vs. forecasts.
Q1 2022 results details:
• Consolidated Sales: $1,251.2MM (+23.9% YoY) vs. RBC/consensus forecast of $1,206.9MM/$1,232.6MM
Specialty Foods: $789.2MM (+20.3% YoY), above RBC forecast of
$765.3MM
Premium Food Distribution: $462.0MM (+30.5% YoY), above RBC
forecast of $441.6MM
• Consolidated Adjusted EBITDA: $95.8MM (+16.1% YoY) vs. RBC/
consensus forecasts of $97.3MM/$94.6MM
Investment Income: $14.8MM, above RBC forecast of $13.0MM
Be the first to comment on this post