Michael Foods has booked a jump in first-quarter net earnings due to lower financing costs.

The US food maker said net earnings for the quarter ended 31 March totalled US$9.4m, up from a loss of $0.4m last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

“The earnings increase in the current year was primarily due to the 2011 credit agreement refinancing-related costs of approximately $8.1m, the resulting reduction in interest expense,” the group said in a statement yesterday (14 May).

Earnings were also boosted by a “better alignment” of pricing with input costs, the group said.  

EBITDA for the quarter stood at $61.8m, compared to $56.4m in 2011, an increase of 9.6%.

Net sales for the quarter were up 6.6% to $444.8m, compared to $417.1m last year.

Click here for the full release.  

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now