Premium Brands Holdings Corporation (PBH) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, everyone, to our 2025 second quarter conference call. Thank you for joining us today. With me here is our CFO, Will Kaludich. Our presentation will follow the deck that was posted on our website this morning. We're now on slide three, which outlines key highlights for the quarter. Overall, our results for the second quarter were on plan, as are premium protein and artisan baked goods strategies in the U.S. continues to generate very strong organic growth rates, and our Canadian business has benefited from strong demand for protein products in both the retail and food service channels. While the consumer backdrops in both Canada and the U.S. have their challenges, we continue to generate solid organic growth as a result of the three main macro trends we have been investing in over the past 20 years, namely value-added protein, premiumization, and convenience. consumer preferences in North America and even globally are shifting rapidly, with demand for premium protein grown substantially, while many ultra-processed foods are being scrutinized, questioned, or even avoided by consumers like never before. At the same time, busy lifestyles are driving demand for healthy, nutrient-rich, minimally processed, ready-to-eat, and ready-to-cook snacks and meals. For more color on our various strategies and the consumer trends driving them, please see my most recent CEO letter to shareholders, which is titled, The Future of Food is in the Past, and can be found on our website. Our strong performance during the quarter was not without headwinds, as higher than expected inflation in certain key commodities, namely beef and chicken, pressured margins, and our overall profitability. We're taking the necessary actions needed to restore our margins, including targeted pricing, ...