Premium Brands Holdings Corp (TSX:PBH)
C$ 78.21 -6.52 (-7.7%) Market Cap: 3.48 Bil Enterprise Value: 6.31 Bil PE Ratio: 30.79 PB Ratio: 1.98 GF Score: 93/100
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Q3 2024 Premium Brands Holdings Corp Earnings Call Transcript

Nov 06, 2024 / 06:30PM GMT
Release Date Price: C$78.21 (-7.70%)

Key Points

Positve
  • Premium Brands Holdings Corp (PRBZF) has a robust business development pipeline with potential annual revenue of $704 million expected to be completed in 2025.
  • The company is experiencing strong growth in its bakery group, with organic growth rates of 20-25% in recent quarters.
  • There are significant growth opportunities in international markets, particularly in Asia, with plans to ship products to these markets in 2025.
  • The company is on track to achieve its five-year plan of reaching a $10 billion sales target, with substantial growth expected from its sandwich group.
  • Premium Brands Holdings Corp (PRBZF) is actively managing its balance sheet, with plans to be within its targeted leverage range by the end of 2025.
Negative
  • The company is facing delays in onboarding new clients, primarily due to lengthy procedures with large customers.
  • There is a slowdown in the QSR segment in the US, impacting sales from a large customer.
  • The specialty food segment is experiencing weakness, particularly in beef jerky sales and the convenience store sector.
  • Operational issues persist at some new US facilities, such as the San Leandro bakery plant, which is still undergoing automation and efficiency improvements.
  • The Canadian conventional supermarket segment remains weak, although there are signs of consumer confidence returning.
Operator

Good morning and good afternoon. Ladies and gentlemen and welcome to the Premium brands Holdings Corporation third quarter 2024 earnings conference call question and answer session. (Operator Instructions) This call is being recorded on Wednesday, November 6, 2024. Our speakers today are George Paleologou, CEO and President of Premium Brands, and Will Kalutycz, CFO of Premium Brands. I would now like to turn the conference over to George. Please go ahead.

George Paleologou
Premium Brands Holdings Corp - President, Chief Executive Officer, Director

Good morning and welcome everyone to our 2024 third quarter conference call. With me here today is our CFO, Will Kalutycz. Hopefully, you've had a chance to listen to a prerecorded call posted on our website this morning. We will now take your questions.

Questions & Answers

Operator

Martin Landry, Stifel.

Martin Landry
Stifel Nicolaus Canada Inc. - Analyst

Hi, good morning guys and good morning. My first question is on the the

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