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BRIEF-Premium Brands Announces Q3 Results, $67.2 Million In Business Investments, Director Appointment And Q4 Dividend

Published 2019-11-11, 08:16 a/m
BRIEF-Premium Brands Announces Q3 Results, $67.2 Million In Business Investments, Director Appointment And Q4 Dividend
PBH
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Nov 11 (Reuters) - Premium Brands Holdings Corp PBH.TO :

* PREMIUM BRANDS HOLDINGS CORP ANNOUNCES RECORD THIRD QUARTER SALES AND ADJUSTED EBITDA, $67.2 MILLION IN BUSINESS INVESTMENTS, THE APPOINTMENT OF AN ADDITIONAL DIRECTOR AND FOURTH QUARTER DIVIDEND

* Q3 REVENUE C$968.3 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$953.6 MILLION

* QTRLY ORGANIC VOLUME GROWTH OF 6.2%

* QTRLY EARNINGS PER SHARE $33.0

* APPOINTMENT OF SEAN CHEAH TO COMPANY'S BOARD OF DIRECTORS EFFECTIVE IMMEDIATELY

* QTRLY EARNINGS PER SHARE ADJUSTED $0.88

* CHEAH IS A SENIOR PRINCIPAL, RELATIONSHIP INVESTMENTS AT CANADA PENSION PLAN INVESTMENT BOARD

* Q3 EARNINGS PER SHARE VIEW C$1.16, REVENUE VIEW C$953.6 MILLION -- REFINITIV IBES DATA

* "WHAT IS HAPPENING IN GLOBAL COMMODITY PROTEINS MARKETS HAS CERTAINLY CREATED SOME SHORT TERM HEADWINDS"

* PREMIUM BRANDS- COULD HAVE DONE FAR BETTER HAD IT NOT BEEN FOR UNUSUAL CHALLENGES CO FACED DUE TO OUTBREAK OF AFRICAN SWINE FEVER IN ASIA

* WILL BEAT OUR TARGETS OF ACHIEVING $6 BILLION IN SALES AND SUSTAINABLE 10% EBITDA MARGIN BY 2023

* PREMIUM BRANDS- SIGNIFICANT INCREASE IN EXPORTS FROM EUROPE TO CHINA, TRADE DISPUTES CREATED AN ALMOST PERFECT STORM FOR SOME OF CO'S PROTEIN BUSINESSES

* PREMIUM BRANDS- HAPPENINGS IN GLOBAL COMMODITY PROTEINS MARKETS CREATED SOME SHORT TERM HEADWINDS, BUT HAVEN'T IMPACTED CO'S LONG-TERM POTENTIAL OUTLOOK

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