Strong Financial Performance
Sales increased by over 8%, adjusted EBITDA increased by 29% to $182 million, and the adjusted EBITDA margin rose to 13.3%, a year-over-year gain of 210 basis points. Free cash flow grew to $216 million, and net debt decreased by $379 million versus a year ago to approximately $1.34 billion.
Pork Complex Growth
Top line growth of 10.7% in the Pork operating unit, driven by a 6% year-over-year increase in hog processing volumes and improved market conditions.
Brand and Product Success
The Greenfield Natural Meat Co. brand continued to grow at a double-digit pace and achieved a 5-year compound annual sales growth rate of 15%. Similarly, the Mina halal brand delivered double-digit sales growth and achieved a 5-year compound annual sales growth rate of 23%.
Positive Outlook and Guidance
Increased 2025 adjusted EBITDA outlook to be in the range of $680 million to $700 million. Expecting mid-single-digit sales growth for the year.
Operational Efficiency and Strategic Initiatives
Completion of the decommissioning of the Brantford facility and progress on the Canada Packers spinoff, which is expected to be completed in the second half of 2025.