Premium Brands Holdings Corporation (PBH) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome, everyone, to our 2025 year-end 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. Later this morning, we will hold a separate live Q&A session at 10.30 a.m. PST. Details to the call can be found on our press release as posted on our website. We're now on slide three. which outlines some of the key highlights for the year and the fourth quarter. We finished 2025 strongly, strategically, operationally, and financially, despite significant commodity inflation headwinds throughout the year, and more specifically, record high beef costs for most of the year and substantial chicken cost increases in the first half of the year. As we have often stated, we manage our business for the long term, and are confident these headwinds are transitory and that our pricing actions combined with normalization of commodity markets will bring our margins back to historical levels. Overall, 2025 was another transformational year for premium brands as we commissioned, expanded, or acquired substantial new plant capacity across North America to support our continued industry-leading growth. Correspondingly, We're well positioned to meet or exceed our 2027 sales and adjusted EBITDA targets of $10 billion and $1 billion, respectively. Sales for the year increased by just over a billion dollars, or 15.6% to $7.5 billion, while our adjusted EBITDA margin came in at 9%, a 20 basis point decrease as compared to 2024, mainly due to beef and to a lesser extent, chicken commodity cost inflation. Subsequent to 2025, we completed the largest acquisition in our history with Stampede Culinary Partners joining our ecosystem of great food companies. Stampede's extensive plant n...