01:19 PM EDT, 05/09/2025 (MT Newswires) -- Maple Leaf Foods ( MLFNF ) reported first-quarter adjusted EPS of $0.43 versus National Bank at $0.25 and consensus at $0.27. Last year was $0.04.

According to analyst Vishal Shreedhar, the strong first quarter performance was aided by sales growth, and better than expected gross margin expansion. "We believe MFI is demonstrating continued progress towards its longer term 14-16% EBITDA margin goal," Shreedhar said.

2025 guidance was maintained despite solid results, reflecting management's caution (early in year, uncertainty of volume response to higher pricing and macro uncertainty). National Bank believes a raise is possible if momentum continues to manifest. The company's spin-off of its pork operations is expected in the second half of this year.

Maintain Outperform rating; price target raised to $30 from $28.

Price: 27.75, Change: +1.25, Percent Change: +4.72