Latest news with #BrianKocher
Yahoo
19-05-2025
- Business
- Yahoo
Shelf-Stable Food Stocks Q1 In Review: SunOpta (NASDAQ:STKL) Vs Peers
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let's take a look at how SunOpta (NASDAQ:STKL) and the rest of the shelf-stable food stocks fared in Q1. As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations. The 18 shelf-stable food stocks we track reported a slower Q1. As a group, revenues missed analysts' consensus estimates by 1% while next quarter's revenue guidance was 0.5% above. While some shelf-stable food stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.9% since the latest earnings results. Committed to clean-label foods, SunOpta (NASDAQ:STKL) is a sustainability-focused food and beverage company specializing in the sourcing, processing, and packaging of organic products. SunOpta reported revenues of $201.6 million, up 9.3% year on year. This print exceeded analysts' expectations by 3.7%. Overall, it was a very strong quarter for the company with an impressive beat of analysts' EPS estimates and a solid beat of analysts' adjusted operating income estimates. "First quarter results exceeded our expectations, and we again delivered double-digit volume growth driven by broad-based gains across segments, products and customers,' said Brian Kocher, Chief Executive Officer of SunOpta. SunOpta pulled off the biggest analyst estimates beat of the whole group. Unsurprisingly, the stock is up 45.6% since reporting and currently trades at $6.61. Is now the time to buy SunOpta? Access our full analysis of the earnings results here, it's free. Best known for its Grown in Idaho brand, Lamb Weston (NYSE:LW) produces and distributes potato products such as frozen french fries and mashed potatoes. Lamb Weston reported revenues of $1.52 billion, up 4.3% year on year, outperforming analysts' expectations by 2.4%. The business had a very strong quarter with a solid beat of analysts' EBITDA estimates and an impressive beat of analysts' gross margin estimates. Lamb Weston achieved the highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 1.2% since reporting. It currently trades at $53.49. Is now the time to buy Lamb Weston? Access our full analysis of the earnings results here, it's free. Started as a small grocery store in New York City, B&G Foods (NYSE:BGS) is an American packaged foods company with a diverse portfolio of more than 50 brands. B&G Foods reported revenues of $425.4 million, down 10.5% year on year, falling short of analysts' expectations by 6.8%. It was a disappointing quarter as it posted a significant miss of analysts' adjusted operating income estimates. B&G Foods delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 29.5% since the results and currently trades at $4.45. Read our full analysis of B&G Foods's results here. The classic red Heinz ketchup bottle's competitor, McCormick (NYSE:MKC) sells food-flavoring products like condiments, spices, and seasoning mixes. McCormick reported revenues of $1.61 billion, flat year on year. This number lagged analysts' expectations by 0.6%. Overall, it was a slower quarter as it also produced a miss of analysts' EBITDA and EPS estimates. The stock is down 6.2% since reporting and currently trades at $75.30. Read our full, actionable report on McCormick here, it's free. The result of a 2015 mega-merger between Kraft and Heinz, Kraft Heinz (NASDAQ:KHC) is a packaged foods giant whose products span coffee to cheese to packaged meat. Kraft Heinz reported revenues of $6.00 billion, down 6.4% year on year. This result was in line with analysts' expectations. Aside from that, it was a mixed quarter as it also recorded a narrow beat of analysts' EBITDA estimates but full-year EPS guidance missing analysts' expectations. The stock is down 3.7% since reporting and currently trades at $27.73. Read our full, actionable report on Kraft Heinz here, it's free. Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
08-05-2025
- Business
- The Market Online
SunOpta's strong Q1 makes it Thursday's top gainer on the TSX
SunOpta (TSX:SOY) reported value-accretive financial results for Q1 ended March 29, 2025, earning it the top return on the TSX on Thursday at the time of writing SunOpta is a supply chain solutions provider for top food brands SunOpta stock is up by 28.71 per cent trading at C$8.07 as of 11:10 am ET, adding 3.86 per cent year-over-year and 77.75 per cent since 2020 SunOpta (TSX:SOY) reported value-accretive financial results for Q1 ended March 29, 2025, earning it the top return on the TSX on Thursday at the time of writing. Q1 2025 highlights Revenue of US$201.6 million, up by 9.3 per cent from US$184.4 million year-over-year (YoY), driven by 12.2 per cent volume growth. Operating income of US$10.5 million, up from US$10.1 million YoY, reflecting lower stock-based compensation. Earnings from continuing operations of US$4.8 million, up from US$3.8 million YoY. Adjusted earnings from continuing operations of US$5.3 million, up from US$1.9 million YoY. Adjusted EBITDA from continuing operations of US$22.4 million, up by 2.4 per cent from US$21.9 million YoY. Cash contribution from continuing operations of US$22.3 million, up from US$7.4 million YoY. Check out Thursday's news release for a full set of results. Leadership insights 'First quarter results exceeded our expectations, and we again delivered double-digit volume growth driven by broad-based gains across segments, products and customers,' Brian Kocher, SunOpta's chief executive officer, said in a statement. 'Efforts to unlock latent capacity are ahead of schedule and our margin-improvement initiatives are expected to deliver quarterly sequential margin increases throughout 2025. We are also seeing growth in our sales pipeline, reflecting incremental opportunities from both existing and potential new customers. In addition to our focus on improving margins, we remain tightly focused on optimizing cash flow and deleveraging – efforts that provide optionality and flexibility, positioning us to drive higher returns and long-term value for shareholders.' 'Based on the Q1 results and the notable increase in our sales pipeline, I'm very confident in our 2025 outlook and in achieving 2026 revenue and adjusted EBITDA growth rates that approximate the midpoints of our long-term algorithm of 10 pr cent and 15 per cent, respectively,' Kocher added. 2025 outlook (US$ millions) Prior outlook Revised Outlook Revenue $775 – 805 $788 – 805 Adj. EBITDA $97 – 103 $99 – 103 Revenue growth 7% – 11% 9% – 11% Adj. EBITDA growth 9% – 16% 12% – 16% (Source: SunOpta) About SunOpta SunOpta is a supply chain solutions provider for top food brands. SunOpta stock (TSX:SOY) is up by 28.71 per cent trading at C$8.07 as of 11:10 am ET. The stock has added 3.86 per cent year-over-year and 77.75 per cent since 2020. Join the discussion: Find out what everybody's saying about this food and beverage technology stock on the SunOpta Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
08-05-2025
- Business
- Yahoo
SunOpta (NASDAQ:STKL) Delivers Impressive Q1, Stock Soars
Plant-based food and beverage company SunOpta (NASDAQ:STKL) beat Wall Street's revenue expectations in Q1 CY2025, with sales up 10.3% year on year to $201.6 million. The company's full-year revenue guidance of $796.5 million at the midpoint came in 0.7% above analysts' estimates. Its non-GAAP profit of $0.04 per share was $0.02 above analysts' consensus estimates. Is now the time to buy SunOpta? Find out in our full research report. SunOpta (STKL) Q1 CY2025 Highlights: Revenue: $201.6 million vs analyst estimates of $194.5 million (10.3% year-on-year growth, 3.7% beat) Adjusted EPS: $0.04 vs analyst estimates of $0.02 ($0.02 beat) Adjusted EBITDA: $22.39 million vs analyst estimates of $21.27 million (11.1% margin, 5.3% beat) The company slightly lifted its revenue guidance for the full year to $796.5 million at the midpoint from $790 million EBITDA guidance for the full year is $101 million at the midpoint, above analyst estimates of $100.1 million Operating Margin: 5.2%, in line with the same quarter last year Free Cash Flow was $9.55 million, up from -$2.28 million in the same quarter last year Sales Volumes rose 12.2% year on year (23.5% in the same quarter last year) Market Capitalization: $556.9 million "First quarter results exceeded our expectations, and we again delivered double-digit volume growth driven by broad-based gains across segments, products and customers,' said Brian Kocher, Chief Executive Officer of SunOpta. Company Overview Committed to clean-label foods, SunOpta (NASDAQ:STKL) is a sustainability-focused food and beverage company specializing in the sourcing, processing, and packaging of organic products. Sales Growth A company's long-term sales performance is one signal of its overall quality. Even a bad business can shine for one or two quarters, but a top-tier one grows for years. With $742.7 million in revenue over the past 12 months, SunOpta is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers. As you can see below, SunOpta's revenue declined by 4.2% per year over the last three years despite consumers buying more of its products. We'll explore what this means in the "Volume Growth" section. SunOpta Quarterly Revenue This quarter, SunOpta reported year-on-year revenue growth of 10.3%, and its $201.6 million of revenue exceeded Wall Street's estimates by 3.7%. Looking ahead, sell-side analysts expect revenue to grow 8.2% over the next 12 months, an acceleration versus the last three years. This projection is noteworthy and implies its newer products will spur better top-line performance.
Business Wire
07-05-2025
- Business
- Business Wire
SunOpta Announces First Quarter Fiscal 2025 Financial Results
MINNEAPOLIS--(BUSINESS WIRE)--SunOpta Inc. ('SunOpta' or the 'Company') (Nasdaq:STKL) (TSX:SOY), the company that delivers customized supply chain solutions and innovation for top brands, retailers and foodservice providers across a broad portfolio of beverages, broths and better-for-you snacks today announced financial results for the first quarter ended March 29, 2025. "First quarter results exceeded our expectations, and we again delivered double-digit volume growth driven by broad-based gains across segments, products and customers,' said Brian Kocher, Chief Executive Officer of SunOpta. Share All amounts are expressed in U.S. dollars and results are reported in accordance with U.S. GAAP, except where specifically noted. First quarter 2025 highlights: Revenues of $201.6 million increased 9.3% compared to $184.4 million in the prior year period, driven by 12.2% volume growth partially offset by a 1.7% price reduction for pass-through raw material cost savings Earnings from continuing operations of $4.8 million compared to $3.8 million in the prior year period Adjusted earnings¹ from continuing operations of $5.3 million compared to $1.9 million in the prior year period Adjusted earnings per share¹ from continuing operations of $0.04 compared to $0.02 in the prior year period Adjusted EBITDA¹ from continuing operations increased 2.4% to $22.4 million, or 11.1% of revenues, compared to $21.9 million, or 11.9% of revenues, in the prior year period Strong cash contribution from continuing operations of $22.3 million compared to $7.4 million in the prior year 'First quarter results exceeded our expectations, and we again delivered double-digit volume growth driven by broad-based gains across segments, products and customers,' said Brian Kocher, Chief Executive Officer of SunOpta. 'Efforts to unlock latent capacity are ahead of schedule and our margin improvement initiatives are expected to deliver quarterly sequential margin increases throughout 2025. We are also seeing growth in our sales pipeline, reflecting incremental opportunities from both existing and potential new customers. In addition to our focus on improving margins, we remain tightly focused on optimizing cash flow and deleveraging - efforts that provide optionality and flexibility, positioning us to drive higher returns and long-term value for shareholders.' First Quarter 2025 Results Revenues increased 9.3% to $201.6 million for the first quarter of 2025. The increase was driven by favorable volume/mix of 12.2%, partially offset by a price reduction of 1.7% due to the pass through of certain raw material cost savings, together with a 1.3% impact related to our exit from the smoothie bowls category in March 2024. Growth in volume/mix reflected volume increases for plant-based beverages, broth and fruit snacks. Gross profit decreased by $0.8 million, or 2.4%, to $30.3 million for the first quarter, compared to $31.1 million in the prior year period. As a percentage of revenues, gross profit margin was 15.0% compared to 16.8% in the first quarter of 2024. Adjusted gross margin¹ was 15.3% compared to 17.0% in the first quarter of 2024. The 170-basis point decrease reflects investments in talent and infrastructure to improve long-term margins, the inefficiencies related to temporary volume limitations resulting from the excess wastewater issue at our Midlothian, Texas, facility, and incremental depreciation related to assets recently placed in service but not fully utilized as production ramps up. These factors were partially offset by higher sales and production volumes for beverages, broths and fruit snacks driving improved plant utilization. Operating income was $10.5 million up from $10.1 million in the first quarter of 2024, reflecting lower stock-based compensation in the first quarter of 2025, partially offset by a non-recurring gain on the sale of the smoothie bowl product line in the first quarter of 2024, together with lower gross profit. Earnings from continuing operations were $4.8 million for the first quarter of 2025 compared with earnings of $3.8 million in the prior year period. Diluted earnings per share from continuing operations attributable to common shareholders (after accretion on preferred stock) was $0.04 for the first quarter compared with diluted earnings per share of $0.03 in the prior year period (after dividends and accretion on preferred stock). Adjusted earnings¹ from continuing operations were $5.3 million or $0.04 per diluted share in the first quarter of 2025 compared to adjusted earnings from continuing operations of $1.9 million or $0.02 per diluted share in the first quarter of 2024. Adjusted EBITDA¹ from continuing operations was $22.4 million in the first quarter of 2025 compared to $21.9 million in the first quarter of 2024. Please refer to the discussion and table below under 'Non-GAAP Measures'. Balance Sheet and Cash Flow As of March 29, 2025, SunOpta had total assets of $690.7 million and total debt of $260.6 million compared to total assets of $668.5 million and total debt of $265.2 million at year end fiscal 2024. During the first quarter of fiscal 2025, cash provided by operating activities of continuing operations was $22.3 million compared to $7.4 million during the first quarter of 2024. The increase in cash provided from operating activities mainly reflected improved working capital efficiency. Investing activities of continuing operations consumed $15.2 million of cash during the first quarter of fiscal 2025 compared to $4.2 million in the first quarter of fiscal 2024, reflecting higher capital expenditures, intangible asset purchase of increased wastewater allowance together with the non-recurring proceeds from the sale of the smoothie bowl product line in 2024. Leverage was 2.9x, compared to 3.0x at the end of fiscal 2024 and we continue to expect to be at our 2.5x leverage target by the end of 2025. Capital Allocation Priorities and Share Repurchase Authorization Our capital allocation priorities are to achieve our leverage target of 2.5 times, followed by investing in growth capex, with the third priority being returning capital to shareholders. While our immediate plans are to achieve our 2.5x leverage target, since we currently do not envision needing growth capex in 2025, we would like to be positioned for opportunistic share repurchases if we are trending ahead of plan and have excess cash available while still being able to meet our leverage target. Accordingly, on May 5, 2025, the Company's board of directors approved a share repurchase program, authorizing the Company to purchase up to an aggregate $25 million of the Company's common shares. The size and timing of repurchases, if any, will be determined by the Company's management and will depend upon a multitude of factors, including the Company's progress towards its leverage target, financial position, capital allocation priorities, market conditions, regulatory requirements and other considerations. Tariffs Tariffs continue to be an evolving situation that we continue to monitor. While our employees, production facilities, and customers are predominately located in the U.S. (in 2024, 98% of revenue was to U.S. based customers), we source a portion of our raw material ingredients and packaging globally, and a portion of our fruit snack products are imported into the U.S. from our Niagara, Ontario, facility. In response to these tariffs, we started communications with our customers at the beginning of the year and we intend to pass-through substantially all the incremental costs to our customers, similar to our pass-through pricing of raw material cost increases. 2025 Outlook 2 For fiscal 2025, the Company is raising its outlook reflecting the strong first quarter and continues to expect strong growth in revenue and adjusted EBITDA: We expect to pass-through substantially all incremental costs due to tariffs to our customers and do not expect a material impact on Adjusted EBITDA. However, there could be an increase in revenue and decrease in gross margin and adjusted EBITDA margin simply due to the pass through of the incremental tariff costs which is not reflected in the outlook above. Kocher continued, 'Based on the Q1 results and the notable increase in our sales pipeline, I'm very confident in our 2025 outlook and in achieving 2026 revenue and adjusted EBITDA growth rates that approximate the midpoints of our long-term algorithm of 10% and 15%, respectively.' Conference Call SunOpta plans to host a conference call at 5:30 P.M. Eastern time on Wednesday, May 7, 2025, to discuss the first quarter financial results. After prepared remarks, there will be a question and answer period. Investors interested in listening to the live webcast can access a link on SunOpta's website at under the 'Investor Relations' section or directly. A replay of the webcast will be archived and can be accessed for approximately 90 days on the Company's website. This call may be accessed with the toll free dial-in number (800) 715-9871 or international dial-in number (646) 307-1963 using Conference ID: 8323651. The quarterly earnings presentation, including the long-term grow algorithm and capital allocation priorities, can be accessed through the live webcast referenced above, and on SunOpta's website at under the 'Investor Relations' section or directly. ¹ See discussion of non-GAAP measures 2 The Company has included certain forward-looking statements about the future financial performance that include non-GAAP financial measures, including Adjusted EBITDA. These non–GAAP financial measures are derived by excluding certain amounts, expenses or income, from the corresponding financial measures determined in accordance with GAAP. The determination of the amounts that are excluded from these non-GAAP financial measures is a matter of management judgment and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period. We are unable to present a quantitative reconciliation of the aforementioned forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because management cannot reliably predict all the necessary components of such GAAP measures. Historically, management has excluded the following items from certain of these non-GAAP measures, and such items may also be excluded in future periods and could be significant amounts. Expenses related to the acquisition or divestiture of a business, including business development costs, impairment of assets, integration costs, severance, retention costs and transaction costs; Charges associated with restructuring and cost saving initiatives, including but not limited to asset impairments, accelerated depreciation, severance costs and lease abandonment charges; Asset impairment charges and facility closure costs; Legal settlements or awards; and The tax effect of the above items. About SunOpta SunOpta (Nasdaq: STKL) (TSX: SOY) delivers customized supply chain solutions and innovation for top brands, retailers and foodservice providers across a broad portfolio of beverages, broths and better-for-you snacks. With over 50 years of expertise, SunOpta fuels customers' growth with high-quality, sustainability-forward solutions distributed through retail, club, foodservice and e-commerce channels across North America. For more information, visit or follow us on LinkedIn. Forward-Looking Statements Certain statements included in this press release may be considered "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, which are based on information available to us on the date of this release. These forward-looking statements include, but are not limited to, our intention to maintain our disciplined financial approach to deliver sustainable gross margin improvement and continue to generate significant free cash flow, our expectation to continue de-levering our balance sheet and drive increasing returns on invested capital, share repurchases, our expectations to recover tariff impacts through pass-through pricing, and our anticipated Revenue, Adjusted EBITDA, Revenue growth and Adjusted EBITDA growth for fiscal 2025. Generally, forward-looking statements do not relate strictly to historical or current facts and are typically accompanied by words such as 'potential', 'expect', 'believe', 'anticipate', 'estimates', 'can', 'will', 'target', "should", "would", "plans", 'continue', "becoming", "intend", "confident", "may", "project", "intention", "might", "predict", 'budget', 'forecast' or other similar terms and phrases intended to identify these forward-looking statements. Forward-looking statements are based on information available to the Company on the date of this release and are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments including, but not limited to, the Company's actual financial results; uninterrupted operations and service levels to our customers; current customer demand for the Company's products; general economic conditions; continued consumer interest in health and wellness; the Company's ability to maintain product pricing levels; planned facility and operational expansions, closures and divestitures; cost rationalization and product development initiatives; alternative potential uses for the Company's capital resources; portfolio optimization and productivity efforts; the sustainability of the Company's sales pipeline; the Company's expectations regarding commodity pricing, margins and hedging results; procurement and logistics savings; freight lane cost reductions; yield and throughput enhancements; labor cost reductions; and the terms of our insurance policies. Whether actual timing and results will agree with expectations and predictions of the Company is subject to many risks and uncertainties including, but not limited to, potential loss of suppliers and customers as well as the possibility of supply chain, logistics and other disruptions; unexpected issues or delays with the Company's structural improvements and automation investments; failure or inability to implement portfolio changes, process improvements, go-to-market improvements and process sustainability strategies in a timely manner; changes in the level of capital investment; local and global political and economic conditions; consumer spending patterns and changes in market trends; decreases in customer demand; delayed or unsuccessful product development efforts; potential product recalls; working capital management; availability and pricing of raw materials and supplies; potential covenant breaches under the Company's credit facilities; the impact of the imposition of tariffs, including increases in food prices and inflation, and any resulting negative impacts on the macro-economic environment; and other risks described from time to time under "Risk Factors" in the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q (available at Consequently, all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized. The Company undertakes no obligation to publicly correct or update the forward-looking statements in this document, in other documents, or on its website to reflect future events or circumstances, except as may be required under applicable securities laws. SunOpta Inc. Consolidated Statements of Cash Flows For the quarters ended March 29, 2025 and March 30, 2024 (Unaudited) (Expressed in thousands of U.S. dollars) Quarters ended March 29, 2025 March 30, 2024 $ $ CASH PROVIDED BY (USED IN) Operating activities Net earnings 4,811 2,879 Net loss from discontinued operations - (917 ) Earnings from continuing operations 4,811 3,796 Items not affecting cash: Depreciation and amortization 9,726 8,576 Amortization of debt issuance costs 249 229 Stock-based compensation 1,543 4,645 Gain on sale of smoothie bowls product line - (1,800 ) Other (97 ) (97 ) Changes in operating assets and liabilities, net of divestitures 6,049 (7,947 ) Net cash provided by operating activities of continuing operations 22,281 7,402 Net cash used in operating activities of discontinued operations - (2,133 ) Net cash provided by operating activities 22,281 5,269 Investing activities Additions to property, plant and equipment (12,735 ) (7,548 ) Addition to intangible assets (2,419 ) - Proceeds from sale of smoothie bowls product line - 3,336 Net cash used in investing activities of continuing operations (15,154 ) (4,212 ) Net cash provided by investing activities of discontinued operations - 6,300 Net cash provided by (used in) investing activities (15,154 ) 2,088 Financing activities Increase (decrease) in borrowings under revolving credit facilities (1,437 ) 250 Repayment of long-term debt (12,115 ) (4,782 ) Borrowings of long-term debt 8,485 - Proceeds from notes payable 41,750 33,424 Repayment of notes payable (43,088 ) (34,373 ) Proceeds from the exercise of stock options and employee share purchases 368 314 Payment of withholding taxes on stock-based awards (361 ) (86 ) Payment of cash dividends on preferred stock - (305 ) Net cash used in financing activities of continuing operations (6,398 ) (5,558 ) Increase in cash, cash equivalents and restricted cash in the period 729 1,799 Cash, cash equivalents and restricted cash, beginning of the period 9,012 8,754 Cash, cash equivalents and restricted cash, end of the period 9,741 10,553 Expand Non-GAAP Measures Adjusted Gross Margin Gross margin is a measure of gross profit (equal to revenues less cost of goods sold) as a percentage of revenues. The Company uses a measure of adjusted gross margin that excludes unusual items that are identified and evaluated on an individual basis, which due to their nature or size, the Company would not expect to occur as part of its normal business on a regular basis. The Company uses the measure of adjusted gross margin to evaluate the underlying profitability of its revenue-generating activities within each reporting period. The Company believes that disclosing this non-GAAP measure provides users with a meaningful, consistent comparison of its profitability measure for the periods presented. However, the non-GAAP measure of adjusted gross margin should not be considered in isolation or as a substitute for gross margin calculated based on gross profit determined in accordance with U.S. GAAP. The following table presents a reconciliation of adjusted gross margin from reported gross margin calculated in accordance with U.S. GAAP. Adjusted Earnings and Adjusted EBITDA from continuing operations In addition to reporting financial results in accordance with U.S. GAAP, the Company provides additional information about its operating results regarding adjusted earnings and adjusted earnings before interest, taxes, depreciation and amortization ('Adjusted EBITDA') from continuing operations, which are not measures in accordance with U.S. GAAP. The Company believes that adjusted earnings and adjusted EBITDA from continuing operations assist investors in comparing performance across reporting periods on a consistent basis by excluding items that management believes are not indicative of its operating performance. These non-GAAP measures are presented solely to allow investors to more fully assess the Company's results of operations and should not be considered in isolation of, or as substitutes for, an analysis of the Company's results as reported under U.S. GAAP. The following are tabular presentations of adjusted earnings and adjusted EBITDA from continuing operations, including a reconciliation from loss from continuing operations, which the Company believes to be the most directly comparable U.S. GAAP financial measure. First Quarter Ended March 29, 2025 March 30, 2024 $ $ Earnings from continuing operations 4,811 3,796 Interest expense, net 5,107 6,050 Loss on sale of receivables* 422 - Income tax expense 147 277 Depreciation and amortization 9,726 8,576 Stock-based compensation 1,543 4,645 Adjusted for: Wastewater haul-off charges (a) 543 - Start-up costs (b) - 327 Other (c) 94 - Gain on sale of smoothie bowls product line (d) - (1,800 ) Adjusted EBITDA from continuing operations 22,393 21,871 * Included in other non-operating expense. Expand Footnotes (a) For the first quarter of 2025, reflects temporary third-party haul-off charges for excess wastewater produced at our Midlothian, Texas, facility due to volume constraints within our current treatment system. (b) For the first quarter of 2024, start-up costs mainly related to the scale-up of production at our plant-based beverage facility in Midlothian, Texas. (c) For the first quarter of 2025, other reflects an unrealized foreign exchange loss associated with peso-denominated restricted cash held in Mexico and an unrelated legal settlement, which are recorded in foreign exchange loss and other expense, respectively. (d) For the first quarter of 2024, reflects the pre-tax gain on sale of the smoothie bowls product line, which is recorded in other income. Expand
Business Wire
01-05-2025
- Business
- Business Wire
SunOpta Releases 2024 Sustainability Report
MINNEAPOLIS--(BUSINESS WIRE)--SunOpta (Nasdaq:STKL) (TSX:SOY) – a company that delivers customized supply chain solutions and innovation for top brands, retailers and foodservice providers across a broad portfolio of beverages, broths and better-for-you snacks – is proud to release its 2024 Sustainability Report. This annual update outlines sustainability progress made in the 2024 fiscal year across four key areas: products, planet, people and governance. SunOpta is proud to release its 2024 Sustainability Report, which outlines sustainability progress made in the 2024 fiscal year across four key areas: products, planet, people and governance. Share 'Building a more sustainable future has grounded SunOpta since its beginning, and this commitment yielded significant impact in 2024,' said Brian Kocher, CEO of SunOpta. 'Every day our team of employees, compelled by a spirit of continuous improvement, is innovating and collaborating to provide more efficient, productive and sustainable solutions for our customers while supporting the well-being of the communities where we live and work.' SunOpta is continuing its journey toward its sustainability goals, while communicating transparently about its progress and challenges. SunOpta strives to find solutions to reduce electricity, gas and water, and to implement environmentally preferred solutions to waste management at its manufacturing facilities. The company is also committed to – and making strides toward – using innovative packaging solutions and efficient modes of transportation. Following are highlights from the 2024 report: Products 50 own branded products and ingredients enrolled in The U.S. Non-GMO Project. Attained zero incidents of noncompliance with industry or regulatory labeling and/or marketing codes. Received an external food safety audit score of 95.7 ('excellent' range). Commissioned a product carbon footprint (PCF) for our West Life Soymilk product to determine the product's carbon footprint of 0.54 kgCO2e per 32-ounce package. Expanded our plant-based beverage processing facility strategically in Modesto, Calif. supporting a 60% increase in oatmilk production and potentially eliminating up to 800,000 freight miles annually. Planet Donated 1.2 million pounds of food (equivalent to nearly 950,000 meals) to Feeding America. Saved 136+ metric tons of carbon emission annually from load mode optimization, and 51 metrics tons due to the reduced diesel required to reach our new centrally located Alexandria, Minn. warehouse 99% (by weight) of all packaging sourced by SunOpta is recyclable. Maintained Zero Waste to landfill at five facilities.** Identified ways to pre-heat water more efficiently for steam production in plant-based milk operations, cutting our natural gas use by nearly 650,000 therms annually in Modesto, Calif. Saved 44.2 billion gallons of water by producing plant-based milk compared to dairy milk.* Reduced waste at SunOpta's corporate headquarters by recycling lab materials, plastic film and batteries; diverting 150 pounds of plastic from landfill by replacing disposable with reusable options and donating leftover product to employees. Reduced annual electricity consumption by 185,952 kWh through the elimination of a 40-horsepower oat processing motor in Alexandria, Minn. Reduced water consumption by 5% through a streamlined washdown and cleanout process on production lines in Omak, Wash. Generated nearly half (47%) of SunOpta's corporate headquarters' annual energy needs (359,170kWh) with renewable solar energy. People Supported people affected by the California wildfires by donating 26,000 pounds of Dream and West Life dairy alternatives and 56,331 pounds of chicken stock. Fostered the value of inclusion and belonging through five in-person events and programming. 41% of employees at the Director level and above are female. 25% of SunOpta's Board of Director members are female. Governance Updated our Materiality Assessment in 2024 as part of the program development and goal assessment progress. 'In 2024, based on SunOpta's updated Materiality Assessment, we refreshed our sustainability strategy and refined our goals to better reflect where we are in our journey and where we can make the most impact,' said Stacy Seidel, Head of Sustainability at SunOpta. 'One of our most meaningful achievements this year is the growing maturity of our program—improving GHG emissions data collection, embedding sustainability into our business and enterprise risk assessments, and sharpening our focus based on stakeholder needs. We also made significant progress in advancing human rights visibility by onboarding our tier one suppliers into a new platform. As we move forward, we'll continue to evolve to support our customers' growth with high-quality, sustainability-forward solutions.' About SunOpta, Inc. SunOpta (Nasdaq: STKL) (TSX: SOY) delivers customized supply chain solutions and innovation for top brands, retailers and foodservice providers across a broad portfolio of beverages, broths and better-for-you snacks. With over 50 years of expertise, SunOpta fuels customers' growth with high-quality, sustainability-forward solutions distributed through retail, club, food service and e-commerce channels across North America. For more information, visit or follow us on LinkedIn. *Estimated global average water savings of plant-based milk when compared to the equivalent production of dairy milk based on SunOpta's annual plant-based milk production volume consisting of almond, oat, soy, rice and coconut milks, which represent more than 99% of SunOpta plant-based milk production when using data from Poore and Nemecek (2018) with additional calculations by Poore as published by BBC and Roos et al. (2018). The water savings estimations are not directly associated with water use from SunOpta plant-based milk manufacturing but instead refer to global averages of water consumption from plant-based milk production in the Poore and Nemecek research. **SunOpta has adopted a zero-waste definition as 90% diversion of waste from landfill.
