Growth in Canada Sector
Canada's revenue increased by 4% to $1.3 billion, with adjusted EBITDA up 10% driven by operational efficiencies, supply chain optimization, and cost-saving initiatives.
U.S. Sector Performance
U.S. sector revenue increased by 14% to $2.2 billion, with operational improvements and strategic initiatives contributing to a $23 million year-to-date EBITDA increase despite market challenges.
European Sector Recovery
Europe's EBITDA improved for the third consecutive quarter with higher branded cheese sales volume and improved performance in the Ingredients business.
Positive Developments in Australia
Australia showed continued improvement with better alignment between milk costs and commodity prices, resulting in increased capacity utilization.
Share Buyback Program
Announced intention to proceed with a normal course issuer bid, allowing the purchase of up to 2% of shares outstanding.