Updated Aug 19 at 6:49am ET.
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Premium Brands reported revenue of about 1.67 billion dollars for the quarter, matching what analysts expected. Earnings per share came in at $1.08, just a penny shy of the $1.09 target. The results show a business with two different stories: the core specialty food brands are performing well, but the company's investment in Clearwater Seafoods remains a drag on total profits.
For long-term owners, the focus remains on the expansion into the United States. The company is using its recent purchase of Stampede Culinary Partners to build a distribution network across the border, which is expected to drive significant sales growth through the rest of the year. While the seafood losses are frustrating, they appear to be a temporary distraction from the record performance in the main food-distribution business.
Analysts recently held their positions on the stock following the company's latest earnings report. Only one of the three analysts recommends buying, and the average target price is currently unavailable.
The company has a consistent habit of growing its revenue by double digits, though its bottom-line earnings have been slightly harder for analysts to predict lately.
| Expectation | |
|---|---|
| EPS | $1.16 |
| Revenue | $1.74B |
