Canada's High Liner Foods Q2 revenue beats estimates on strong demand, new products

High Liner Foods

13/08/2026 22:15

Overview
Canada value-added seafood firm's Q2 revenue rose 12%, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Gross profit declined due to inventory loss from warehouse fire, partially offset by tariff recoveries

Outlook
Company expects year-over-year Adjusted EBITDA growth in 2026, excluding tariff recoveries
High Liner Foods expects net debt to Adjusted EBITDA to be slightly below 3.0x by year-end
Company anticipates ongoing pressure from cautious consumer spending, higher raw material costs and tariffs

Result Drivers
SALES VOLUME AND PRICING - Co said Q2 sales rose due to sustained demand, new product launches, contract manufacturing, and higher prices reflecting inflation
INVENTORY LOSS - Gross profit declined due to $10.1 mln inventory loss from a fire at a third-party warehouse, which co expects to recover through insurance
TARIFF RECOVERY - Tariff recoveries partially offset gross profit decline, with $7.9 mln recognized in Q2

Company press release: ID:nCNWxtsgza

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Beat
$269.27 mln
$263.07 mln (5 Analysts)
Q2 Adjusted EPS
Beat
$0.44
$0.26 (5 Analysts)
Q2 EPS
 
$0.18
 
Q2 Adjusted Net Income
 
$12.70 mln
 
Q2 Net Income
 
$5.11 mln
 
Q2 Adjusted EBITDA
 
$30.24 mln
 
Q2 Gross Profit
 
$50.08 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy"
Wall Street's median 12-month price target for High Liner Foods Inc is C$16.25, about 12.7% above its August 12 closing price of C$14.42
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
Aug 13 - UK's Nomad Foods Q2 revenue falls 3.1% on lower volumes
Aug 13 - Lifeway Foods Q2 sales rise on volume growth
Aug 12 - Canada unhappy with latest US offer to lower tariffs, CBC reports

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)