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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
High Liner Foods
High Liner Foods (HLF) investor relations material
High Liner Foods Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary11 Nov, 2026
Executive summary
Q3 sales rose 15.8% YoY to $288.0M on higher volume and pricing; net income increased to $26.6M and Adjusted EBITDA to $41.5M, including $21.8M of tariff recoveries.
Nine-month sales increased 17.9% to $892.2M and Adjusted EBITDA rose 39.3% to $101.0M; 2026 Adjusted EBITDA growth is expected to continue YoY, excluding tariff recoveries.
Financial highlights
Q3 sales volume grew 5.9% YoY to 59.1M lbs; sales increased $39.4M to $288.0M.
Q3 gross profit rose 55.3% to $71.9M and gross profit margin increased to 25.0% from 18.6%; excluding tariff recoveries, gross profit increased ~$3.8M YoY.
Q3 net income was $26.6M vs. $4.8M; diluted EPS was $0.93 vs. $0.16. Adjusted net income was $19.7M vs. $4.1M; Adjusted diluted EPS was $0.69 vs. $0.14.
Nine-month net income rose to $39.7M from $28.5M; Adjusted net income was $43.9M vs. $32.1M. Diluted EPS was $1.38 and Adjusted diluted EPS $1.52.
Nine-month gross profit increased 15.6% to $188.6M, while gross profit margin eased to 21.1% from 21.6%; results included an inventory loss and tariff recoveries.
Outlook and guidance
2026 Adjusted EBITDA is expected to grow YoY, independent of tariff recoveries; leverage is expected to finish FY2026 slightly below the long-term 3.0x target.
Outlook depends on macro conditions, including cautious consumer spending, raw-material cost pressures, ongoing tariffs and geopolitical uncertainty.
The transaction with Umios is expected to close in Q1 2027, subject to shareholder, court and regulatory approvals and customary closing conditions.
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Latest events from High Liner Foods
- Sales and Adjusted EBITDA rose, but net income and margins fell on higher costs and inventory loss.HLF
Q2 2026 - Strong 2024 results, board approvals, and focus on innovation and sustainability.HLFAGM 2025
- Q1 2026 sales and volume surged, but margins and net income fell amid cost pressures.HLFQ1 2026
- Q4 2025 sales rose 15%, but margins fell; EBITDA growth and margin recovery expected in 2026.HLFQ4 2025
- Margins and net income fell in Q3 2025 amid inflation and tariffs, but innovation and M&A drive future growth.HLFQ3 2025
- Q3 2024 saw 7.5% Adjusted EBITDA growth, higher margins, and a 13.3% dividend hike amid headwinds.HLFQ3 2024
- Profitability and margins improved despite lower sales and volumes, with leverage at decade lows.HLFQ2 2024
- Q1 sales and EBITDA fell, but retail gains, margin resilience, and dividend growth continue.HLFQ1 2025
- Q4 2024 delivered 8.7% EBITDA growth, higher volumes, and a strong outlook for 2025.HLFQ4 2024
Next High Liner Foods earnings date
EGM 202615 Dec, 2026
High Liner Foods
Next High Liner Foods earnings date
EGM 202615 Dec, 2026
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Frequently asked questions
High Liner Foods Inc is a food processing company specializing in the production and marketing of frozen seafood products. The company supplies retail, foodservice, and club store customers across North America with a variety of seafood offerings under multiple brand names. High Liner Foods operates within the consumer goods and food manufacturing sectors. The company is headquartered in Lunenburg, Canada, and its shares are listed on the TSX.