Strong Revenue Growth and Future Prospects
The company reiterated its annual guidance for revenue growth of 11% to 14% this year, with growth heavily weighted towards the back half of the year. New initiatives and increased capacity are expected to drive significant growth in Q3 and Q4.
Significant Growth in US Bakery Segment
The U.S. bakery segment reported over 30% growth in the quarter, with additional capacity set to support further expansion.
Tennessee Facility and Capacity Expansion
The Tennessee facility is now in commercial production, adding $280 million in sales capacity, with expectations to fill this capacity next year.
Potential Reduction in Leverage
The company is implementing a three-step plan to reduce leverage, aiming to reach its targeted range by the end of the year or early 2026.
Temporary Advance Recovery from Clearwater
The company expects to recover a temporary advance made to Clearwater within the year, with Clearwater showing signs of improvement.