Premium Brands Holdings Corp (TSX:PBH)
C$ 79.61 0.02 (0.03%) Market Cap: 3.54 Bil Enterprise Value: 6.37 Bil PE Ratio: 35.70 PB Ratio: 2.03 GF Score: 85/100
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Q3 2024 Premium Brands Holdings Corp Earnings Call (Pre-recorded) Transcript

Nov 06, 2024 / 12:00PM GMT
Release Date Price: C$78.21 (-7.70%)
George Paleologou
Premium Brands Holdings Corp - President, Chief Executive Officer, Director

Welcome everyone to our 2024 third-quarter conference call. Thank you for joining us today. With me here today is our CFO, Will Kalutycz. Our presentation will follow the deck that was posted on our website this morning.

We're now on slide 4, which outlines certain key highlights for the quarter. Results for the third quarter were generally in line with our expectations, with the exception of a material sales shortfall in our sandwich group due to an unanticipated decline in sales to a key customer. We believe that this decline is transitory and that sales to this customer will recover and will eventually return to their historical growth rates. Excluding sales to this customer, our specialty food group's organic volume growth for its major US initiatives was 8.1%. Our premium food distribution business improved sequentially during the quarter and has returned to modest growth in dollar terms as the consumer backdrop in Canada continues to show signs of improvement driven by lower interest rates and

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