High Liner Foods (HLF) Q3 2026 earnings summary

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.