SunOpta (STKL) Q2 Earnings Report Preview: What To Look For
SunOpta beat analysts' revenue expectations by 3.7% last quarter, reporting revenues of $201.6 million, up 9.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts' EPS estimates and an impressive beat of analysts' adjusted operating income estimates.
Is SunOpta a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting SunOpta's revenue to grow 8.6% year on year to $185.7 million, slowing from the 21.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.03 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SunOpta has missed Wall Street's revenue estimates twice over the last two years.
Looking at SunOpta's peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 26%, beating analysts' expectations by 3.1%, and Lamb Weston reported revenues up 4%, topping estimates by 5.7%. Hershey's stock price was unchanged after the resultswhile Lamb Weston was up 19.3%.
Read our full analysis of Hershey's results here and Lamb Weston's results here.
Investors in the shelf-stable food segment have had fairly steady hands going into earnings, with share prices down 1.1% on average over the last month. SunOpta is down 10% during the same time and is heading into earnings with an average analyst price target of $9.60 (compared to the current share price of $5.61).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
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