Premium Brands Holdings trims earnings forecast on beef costs

The cost of beef has led Canada’s Premium Brands Holdings to lower its forecast for annual adjusted EBITDA. The processed-meats and deli-foods manufacturer still expects adjusted EBITDA to rise this year but today (10 November) trimmed its guidance due to the “transitory impact of continued increases in the cost of beef raw materials”. Premium Brands is now forecasting its adjusted EBITDA will reach C$670-680m ($478.1-485.2m) in 2025 compared to its previous guidance of C$680-700m. In 2024, the group’s a ...