Overview
- Fourth-quarter adjusted EPS came in at $0.51 versus the $0.55 consensus, while net sales rose 16.6% to $648.2 million, topping estimates.
- Growth was volume-led with a 19.2% increase, offset by a 2.6% decline in price/mix, signaling pricing pressure in the protein category.
- Adjusted gross margin fell to 29.7% from 35.9% on input-cost inflation, stepped-up promotions and packaging redesign costs.
- Operating profit declined 8.8% to $102.2 million, while adjusted EBITDA edged up 0.8% to $117.4 million.
- 2026 net sales guidance of $2.410–$2.490 billion trails the $2.509 billion Street view, with long-term net sales growth reset to 7–9% and an 18–20% adjusted EBITDA margin goal reaffirmed.