Significant Increase in Adjusted EBITDA
Adjusted EBITDA grew by $50 million to $166 million with an expanded EBITDA margin, which increased by 330 basis points to 13.4%.
Robust Sales Growth
Sales growth of 8.2% year-over-year was achieved, demonstrating strong performance across Prepared Foods, Poultry, and Pork segments.
Successful Product Innovations
Launch of 28 new items in the market, following 50 new items last year, including a new category adjacency with Schneiders frozen breakfast portfolio.
Dividend Increase and Share Buyback Program
Announcement of an increase to the quarterly dividend to $0.24 per share, marking the 10th consecutive year of increases. A normal course issuer bid to purchase up to 7.3 million shares was also announced.
Pork Complex Revenue Growth
The Pork Complex delivered a 12% increase in sales compared to Q1 last year, driven by higher processing volumes, higher average hog weights, and favorable exchange impacts.
Strategic Initiatives Progress
Advancement in the Canada Packer spin-off with management information circular filing and shareholder vote scheduled for June 11.