Modest Volume Growth in Food Segment
The Food segment delivered modest volume growth against a strong first quarter last year. Case-ready solutions grew low single digits in the first quarter compared to the prior year, benefiting from evolving consumer preferences and the strength of product offerings.
Improved EBITDA Margins
First quarter adjusted EBITDA margin was 21.7%, up 80 basis points. This improvement was driven by cost takeout and productivity efficiencies.
Strong Performance in EMEA and Asia
The EMEA region had its best quarter since 2021, with volumes down just 1%. Asia and Latin America showed growth, offsetting declines in North America.
Successful Mitigation of Tariff Impacts
The net tariff impact to the bottom line is minimal, and the company is actively taking pricing actions to mitigate exposure.