Business
HIGH LINER FOODS REPORTS OPERATING RESULTS FOR THE FIRST QUARTER OF 2026
High Liner Foods Incorporated (TSX: HLF) ("High Liner Foods" or "the Company"), a leading North American value-added frozen seafood company, today announced financial results for the thirteen weeks ended April 4, 2026.
About this update from High Liner Foods Incorporated
[{"type":"text","content":"LUNENBURG, NS, May 13, 2026 /CNW/ - High Liner Foods Incorporated (TSX: HLF) ("High Liner Foods" or "the Company"), a leading North American value-added frozen seafood company, today announced financial results for the thirteen weeks ended April 4, 2026.","length":279,"tagName":"p"},{"type":"text","content":""We experienced strong demand and top-line growth in the first quarter, supported by the timing of the Lenten period and enhanced promotional activity," said Paul Jewer, President and Chief Executive Officer of High Liner Foods. "However, global supply limitations—particularly in key whitefish species—and challenges with fully passing through higher costs during the Lenten period put pressure on margins and plant performance, impacting our bottom line."","length":477,"tagName":"p"},{"type":"text","content":""We are strengthening our execution, with a focus on continued pricing and cost management, refining our promotional strategy and delivering plant efficiencies. This approach will position the business for improved profitability for the balance of the year, as we manage ongoing market pressures."","length":307,"tagName":"p"},{"type":"text","content":"Key financial results, reported in U.S. dollars ("USD"), for the thirteen weeks ended April 4, 2026, or the first quarter of 2026, are as follows (unless otherwise noted, all comparisons are relative to the first quarter of 2025):","length":245,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Adjusted EBITDA(1) decreased by $2.8 million, or 8.7%, to $29.3 million compared to $32.1 million, and Adjusted EBITDA as a percentage of sales decreased to 8.7% compared to 12.0%;","length":180,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":180,"olType":false},{"type":"list","items":[{"val":[{"type":"text","content":"Sales volume increased by 7.0 million pounds, or 10.6%, to 73.0 million pounds compared to 66.0 million pounds, while sales increased by $66.5 million, or 24.8%, to $334.9 million compared to $268.4 million;","length":207,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":207,"olType":false},{"type":"list","items":[{"val":[{"type":"text","content":"Net income decreased by $7.3 million, or 47.7%, to $8.0 million compared to $15.3 million, and diluted earnin...