Increased Revenue and EBITDA
Net revenues for Q1 2025 were $4.5 billion, a 2.3% increase over the same quarter last year. Adjusted EBITDA was $533 million, up 62% compared to Q1 2024.
Expansion in Prepared Foods
Prepared foods grew over 20% compared to the prior year with increased distribution across retail and food services. Sales of Just BARE and Pilgrim's collectively rose over 50%.
Strong U.S. Market Performance
U.S. sales and adjusted EBITDA increased compared to the prior year. U.S. net revenues were $2.74 billion, a 6.2% increase from last year.
European Business Growth
Adjusted EBITDA margins in Europe improved to 8.1% from 6.4% last year due to integration and optimization efforts.
Expansion in Mexico
Sales to key customers in Mexico increased by 11%. The branded portfolio grew by 15% in Fresh and 9% in Prepared.