Maple Leaf Foods
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Maple Leaf Foods (MFI) investor relations material

Maple Leaf Foods Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary5 Mar, 2026

Executive summary

  • Achieved strong Q4 and FY 2025 results, with sales up 8.1% in Q4 and 7.7% for the year, driven by resilient growth in Prepared Foods and Poultry segments.

  • Adjusted EBITDA grew 8.3% in Q4 and 21% for FY 2025, with margin expansion to 12.2%.

  • Completed the spin-off of pork operations into Canada Packers, transforming into a focused, protein-centric CPG company with a 16% stake and evergreen supply agreement.

  • Strengthened balance sheet, reducing Net Debt to $995 million and leverage to 2.1x Net Debt to TTM Adjusted EBITDA.

  • Increased annual dividend by ~9–10%, paid a $0.60/share special dividend, and repurchased ~0.7M shares.

Financial highlights

  • Q4 sales: $991 million (+8.1% YoY); full-year sales: $3,913 million (+7.7% YoY).

  • Q4 Adjusted EBITDA: $117 million (+8.3% YoY, margin 11.8%); full-year Adjusted EBITDA: $476 million (+21% YoY, margin 12.2%).

  • Q4 net earnings: $391 million ($3.14/share); full-year net earnings: $542 million ($4.36/share); Adjusted EPS: $0.32 in Q4, $1.09 for the year.

  • Free Cash Flow for 2025: $318 million.

  • Net Debt reduced to $995 million, Net Debt/TTM Adjusted EBITDA improved to 2.1x from 2.7x.

Outlook and guidance

  • 2026 outlook projects mid-single-digit revenue growth, Adjusted EBITDA of $520–540 million, and leverage below 3x.

  • Capital investments expected at $160–180 million, focused on maintenance and productivity.

  • Dividend growth of ~10% anticipated, with quarterly dividend rising to $0.21 per share.

  • Plan to renew NCIB and remain active in share repurchases.

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Investor Day 202610 Mar, 2026
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Frequently asked questions

Maple Leaf Foods Inc produces and markets prepared meats, fresh pork, and plant-based protein products. The company operates food processing facilities and distributes its brands across retail and foodservice channels in Canada and internationally. The company is headquartered in Mississauga, Canada, and its shares are listed on the TSX.

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