Canada Packers reports Q2 loss amid market challenges

Aug 10, 2026

Canada Packers Inc. has reported its financial results for the 13-week and 26-week periods ending June 27, 2026.

Second quarter highlights

Sales of $431.7 million. Prior year Q2 sales of $473.2 million included operations that were not acquired by the company in connection with the spin-off from Maple Leaf Foods.
Loss of $28.4 million in the quarter includes $48.3 million non-cash decrease in fair value of biological assets, (2025: earnings of $23.4 million, $8.1 million non-cash decrease in fair value of biological assets). The change in fair value of biological assets is excluded in the calculation of Adjusted EBITDA(ii), and does not affect operating performance.
Adjusted EBITDA(ii) was $34.9 million, down $10.1 million compared to Q2 2025 pro-forma Adjusted EBITDA(i) of $45 million, primarily due to cutout markets that did not improve in line with historical seasonal patterns, partially offset by operational efficiencies.
Paid a dividend of $0.23 per share in the quarter, returning $6.8 million to shareholders.
Adjusted EPS(ii) of $0.34. Adjusted EPS in 2025 of $0.93 does not reflect the impacts of stand-alone costs incurred in 2026.
Net Debt(ii) was $432.8 million resulting in a leverage ratio of 2.4x based on trailing twelve months pro forma Adjusted EBITDA(i).

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