Core Viewpoint - The rising cost of beef has prompted Premium Brands Holdings to lower its annual adjusted EBITDA forecast, although the company still anticipates an increase in adjusted EBITDA for the year [1][2]. Financial Performance - Premium Brands now projects adjusted EBITDA for 2025 to be between C$670-680 million ($478.1-485.2 million), down from the previous estimate of C$680-700 million [2]. - In 2024, the group's adjusted EBITDA was C$593.7 million [2]. - The company reported record third-quarter adjusted EBITDA of C$179.1 million, a 12.4% increase compared to the third quarter of 2024 [3]. - Third-quarter revenue reached C$1.99 billion, reflecting a year-on-year increase of 19.1%, with organic volume growth of 10.1% [3]. - Despite record adjusted EBITDA, the company's margins were below expectations due to double-digit cost inflation in key beef raw materials [3]. Strategic Outlook - The company believes the current challenges with beef prices are transitory and is implementing targeted pricing actions and new procurement initiatives to restore margins [4]. - Premium Brands aims to achieve a mid-term targeted annual adjusted EBITDA margin of 10% [4]. - The acquisitions pipeline is described as robust, with several transactions expected to close in the next quarter or two [4]. Acquisitions and Financial Strategy - The company is committed to deleveraging its balance sheet throughout 2025 and fiscal 2026, with any acquisitions being conducted within this framework [5]. - Recent acquisitions include Denmark Sausage for US$21 million and three other companies announced in December [5]. Recent Losses - Premium Brands reported a third-quarter loss of C$1.7 million, compared to a profit of C$25.4 million in the same period the previous year [6]. - For the first nine months of the year, net earnings were C$28.8 million, down from C$84.2 million in the first nine months of 2024 [6].

Core Viewpoint - The market anticipates a year-over-year decline in Kraft Heinz's earnings due to lower revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - Kraft Heinz is expected to report quarterly earnings of $0.60 per share, reflecting a 13% decrease year-over-year, with revenues projected at $6 billion, down 6.5% from the previous year [3]. - The consensus EPS estimate has been revised 0.38% lower in the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, leading to an Earnings ESP of -0.94%, which indicates a bearish outlook on earnings prospects [10][11]. - Historically, Kraft Heinz has beaten consensus EPS estimates in the last four quarters, with a notable surprise of +7.69% in the last reported quarter [12][13]. Stock Movement Factors - The potential for stock movement hinges on whether the earnings report exceeds or falls short of expectations, with management's commentary on business conditions being crucial [2][14]. - Despite the negative Earnings ESP, other factors may influence stock performance, making it essential to consider a broader range of indicators [14][16].