August 27, 2016 3:17 PM ET

Food Products

Company Overview of Michael Foods Group, Inc.

Company Overview

Michael Foods Group, Inc. is engaged in the production and distribution of food products. It operates in three divisions: Egg Products, Refrigerated Potato Products, and Cheese and Other Dairy Case Products. The Egg Products division produces, processes, and distributes various egg products, including ultrapasteurized, extended shelf-life liquid eggs, egg white-based egg products, and hardcooked and precooked egg products; and frozen, liquid, and dried products that are used as ingredients in other food products, as well as organic and cage free egg products. This division markets its products under the Better ’n Eggs, All Whites, Papetti’s, Abbotsford Farms, Inovatech, Excelle, Trilogy, Emu...

301 Carlson Parkway

Suite 400

Minnetonka, MN 55305

United States

3,465 Employees

Phone:

952-258-4000

Key Executives for Michael Foods Group, Inc.

Chairman, Chief Executive Officer and President
Age: 57
Chief Financial Officer, Principal Accounting Officer, and Senior Vice President
Age: 50
Senior Vice President of Operations and Supply Chain
Age: 59
Vice President, General Manager of Retail and President of Crystal Farms
Age: 55
Vice President, General Counsel and Secretary
Age: 58
Compensation as of Fiscal Year 2016.

Michael Foods Group, Inc. Key Developments

Michael Foods Group Reports Unaudited Earnings Results for the First Quarter Ended December 31, 2015

Michael Foods Group reported unaudited earnings results for the first quarter ended December 31, 2015. For the quarter, the company reported net sales of $586.4 million for the first quarter, a decline of 2.2%, or $12.9 million, over the reported prior year first quarter. On a comparable basis, net sales declined 6.2%, or $38.5 million, over the same period in fiscal 2015. Segment profit was $80.8 million and $42.1 million for first quarter 2016 and 2015, respectively. Segment profit for the first quarter of 2016 included $8.4 million from the acquisition of Willamette Egg Farms. Segment Adjusted EBITDA was $118.0 million and $72.4 million for first quarter 2016 and 2015, respectively, with egg, pasta, potato and cheese products all achieving organic Adjusted EBITDA growth. Operating profit was $80.8 million compared to $42.1 million a year ago.

Michael Foods Group, Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2015

Michael Foods Group, Inc. reported unaudited earnings results for the third quarter and nine months ended June 30, 2015. Net sales were $564.7 million for the third quarter, up $352.0 million over the reported prior year third quarter. On a comparable basis, net sales were up 0.9%, or $5.0 million, over the same period in fiscal 2014. Segment profit was $48.4 million and loss of $9.6 million for third quarter 2015 and 2014, respectively. Segment Adjusted EBITDA was $81.2 million and $22.6 million for the third quarter 2015 and 2014, respectively. For the nine months ended June 30, 2015, net sales were $1,714.3 million, up $1,434.9 million over the reported prior year period. Segment profit was $130.3 million, compared to a loss of $10.8 million in the prior year period. Segment Adjusted EBITDA was $231.3 million, compared to $30.7 million in the prior year period.

Michael Foods Group Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Michael Foods Group announced unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $550.3 million compared with $66.7 million for the same period last year. Profit was $39.8 million compared with loss of $1.2 million for the same period last year. Adjusted EBITDA was $77.7 million compared with $8.1 million for the same period last year. For the six months, the company reported net sales of $1,149.6 million compared with $66.7 million for the same period last year. Profit was $81.9 million compared with loss of $1.2 million for the same period last year. Adjusted EBITDA was $150.1 million compared with $8.1 million for the same period last year.

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