Strong Financial Performance and Revenue Growth
Adjusted EBITDA increased by 13% year-over-year to $417 million, marking the best quarterly performance since Q3 of fiscal 2023. Revenues increased by 17%, totaling $5 billion, driven by higher sales volumes and favorable international cheese and dairy ingredient prices.
Successful Capital Projects and Cost Savings
Capital projects delivered $30 million in savings in the US sector, with substantial long-term margin opportunities anticipated. Operational improvements and cost-saving measures contributed to performance.
Record Performance in Canada
Canadian segment saw a 17% increase in adjusted EBITDA to $175 million, driven by operational efficiencies, supply chain optimization, and higher sales volumes.
Resilient US Performance
US revenue increased by 12% to $2.3 billion, with adjusted EBITDA up 20% despite market challenges. Benefits from capital investments and productivity improvements were realized.
Positive Impact of Share Repurchase Program
Increased the total number of shares that can be repurchased under NCIB from 2% to 5% of shares outstanding, indicating confidence in the company's financial health and shareholder value.