Strong Operating Cash Flow and Debt Reduction
Despite a disappointing revenue quarter, the company generated strong operating cash flow of $25 million and reduced net debt by $12 million.
Adjusted EBITDA Improvement
Adjusted EBITDA in the quarter was $38 million, with an adjusted EBITDA margin increase of 350 basis points from the first quarter.
Baby and Kids Segment Recovery
Sequential improvement in baby and kids, with Earth's Best infant formula supply fully recovered, leading to a 29% year-on-year increase in consumption.
Positive Developments in Snacks Distribution
Garden Veggie delivered mid-single-digit distribution growth, and Terra saw strong base unit velocities up 9%. Distribution expansion up 17% year on year expected in the back half.
Away From Home Sales Growth
Away from home net sales grew 38% in North America and 52% internationally.