High Liner Foods Announces Organizational Changes and Provides Update on First Quarter Outlook

About this update from High Liner Foods Incorporated

High Liner Foods Announces Organizational Changes and Provides Update on First Quarter Outlook /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire LUNENBURG, NS, March 31, 2026 /CNW/ - High Liner Foods Incorporated (TSX: HLF) ("High Liner Foods" or the "Company") today announced organizational changes to further align its cost structure with current market conditions and provided an update on its outlook for performance in the first quarter of 2026. The changes made today resulted in 35 departures from the organization, representing approximately 9% of High Liner Foods' North American office workforce. These actions are part of a broader set of initiatives already underway, including disciplined margin management, cost reduction, and supply chain efficiency efforts, intended to mitigate the impact of sustained pressure from rising inflation, tariffs, and higher input costs and to strengthen the Company's value proposition to customers and consumers. The Company is confident that its actions will support a return to year-over-year Adjusted EBITDA growth for fiscal 2026, however, current estimates indicate that first quarter results will be modestly below the prior year. While the Company experienced strong demand during the first quarter, underlying promotional activity combined with rising input costs and tighter supply put pressure on margins and plant performance, delaying the realization of profitability improvements that the Company expects to deliver in 2026.Further details will be provided when the Company reports its first quarter 2026 financial results in May of 2026.Forward Looking Statements This press release contains forward-looking information within the meaning of applicable securities laws with respect to the Company, including, but not limited to, statements concerning organizational changes and the impact of such organizational changes on the Company, the current conditions of the markets and industries in which the Company operates, including pressures from rising inflation, tariffs and higher input costs, initiatives of the Company to address such conditions, including margin management, cost reduction ini...

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