Earnings
Canada Packers Inc. Reports Fourth Quarter and Full Year 2025 Financial Results

CPKR · Price
Executive Summary
- Canada Packers reported FY 2025 sales of C$1,836.4 M (+10.7% YoY) and Q4 sales of C$429.4 M (+1.3% YoY).
- Adjusted EBITDA rose to C$207.5 M for the year (+42% YoY) and C$46.3 M in Q4 (+2.7% YoY); however, GAAP earnings fell sharply (Q4 EPS C$0.78 vs C$1.70 prior year).
- The Board declared a quarterly dividend of $0.23 per share payable March 31, 2026; net debt stood at C$341.7 M (net‑debt/EBITDA = 1.6×).
Key Details
- Sales – FY 2025: C$1,836.4 M (+10.7% YoY); Q4 2025: C$429.4 M (+1.3%).
- Cost of Goods Sold – FY 2025: C$1,583.6 M (+10.9% YoY); Q4 2025: C$363.8 M (+10.3%).
- Gross Profit – FY 2025: C$252.8 M (+9.5% YoY); Q4 2025: C$65.6 M (‑30.4% YoY). Gross margin FY 2025 = 13.8%; Q4 2025 = 15.3%.
- SG&A Expenses – FY 2025: C$81.0 M (+23.5% YoY); Q4 2025: C$23.6 M (+61.7% YoY).
- Interest Expense – FY 2025: C$10.3 M (↑128% YoY); Q4 2025: C$7.1 M (↑ nm vs prior year).
- Net Debt – C$341.7 M; cash C$54.3 M; long‑term debt C$396.0 M; net‑debt/EBITDA = 1.6×.
- Adjusted EBITDA – FY 2025: C$207.5 M (+42% YoY); Q4 2025: C$46.3 M (+2.7%). Adjusted EBITDA margin FY 2025 = 11.3%; Q4 2025 = 10.8%.
- Adjusted Operating Earnings – FY 2025: C$160.3 M (+62% YoY); Q4 2025: C$34.5 M (‑0.6%).
- Earnings per Share (GAAP) – Basic & Diluted Q4 2025: $0.78 (‑54.1% YoY); FY 2025: $3.58 (‑1.8% YoY).
- Adjusted EPS – Q4 2025: $0.63 (‑20.3% YoY); FY 2025: $3.55 (+57.1% YoY).
- Hogs Processed – FY 2025: 4,167 k (↑4.3% YoY); Q4 2025: 1,035 k (↑1.7%). Internally raised share FY 2025 = 46.7% (↑2.5%); Q4 2025 = 46.8% (↑2.3%).
- Free Cash Flow – FY 2025: C$170.0 M (↑95% YoY); Q4 2025: C$36.7 M (↑57% YoY). Adjusted Free Cash Flow FY 2025: C$145.0 M (‑31% YoY); Q4 2025: C$18.3 M (‑48%).
- Dividend – Quarterly dividend $0.23 per share, payable 31 Mar 2026; annualized $0.92 per share, eligible for enhanced dividend tax credit.
Notable Quotes
“During the fourth quarter we delivered best‑in‑class profitability…we will capitalize on our near‑term growth opportunity and strengthen our balance sheet,” – Dennis Organ, President & CEO.
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Apr 30, 2026 · 06:30