Q: Premium Brands Holdings (PBH) is part of 5i’s Balanced Portfolio. It reported today and appears to have met or slightly exceeded analyst range of estimates both on EPS and Revenues.
It has completed its sale and leaseback of its Tennessee Sandwich Plant, and used the proceeds to repay a $172 debenture that matured in April, slightly reducing its total debt to EBITDA to 4.2:1 from 4:6:1 for the quarter.
They have also posted a 6 page letter from the CEO to Shareholders entitled “The Future of Food is the Past”
It would be appreciated if you could review both the results and the letter; and provide your comments, as well as sentiment on the company/strategy.
Thank-you!
It has completed its sale and leaseback of its Tennessee Sandwich Plant, and used the proceeds to repay a $172 debenture that matured in April, slightly reducing its total debt to EBITDA to 4.2:1 from 4:6:1 for the quarter.
They have also posted a 6 page letter from the CEO to Shareholders entitled “The Future of Food is the Past”
It would be appreciated if you could review both the results and the letter; and provide your comments, as well as sentiment on the company/strategy.
Thank-you!
5i Research Answer:
Sorry for the delay; we did publish comments on the quarter. The letter is solid. The company...