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Business Wire
5 days ago
- Business
- Business Wire
SunOpta Announces Second Quarter Fiscal 2025 Financial Results
MINNEAPOLIS--(BUSINESS WIRE)--SunOpta Inc. ('SunOpta' or the 'Company') (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 today announced financial results for the second quarter ended June 28, 2025. 'Second quarter results were outstanding, reflecting the strength of our competitive position and sharp execution by our team,' 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. Second Quarter 2025 highlights: Revenues of $191.5 million increased 12.9% compared to $169.5 million in the prior year period, driven by 14.4% volume growth partially offset by a 1.4% price reduction for pass-through pricing for certain raw material cost savings Earnings from continuing operations of $4.4 million compared to a loss of $4.4 million in the prior year period Adjusted earnings¹ from continuing operations of $4.4 million compared to $2.2 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 13.9% to $22.7 million, or 11.9% of revenues, compared to $20.0 million, or 11.8% of revenues, in the prior year period 'Second quarter results were outstanding, reflecting the strength of our competitive position and sharp execution by our team,' said Brian Kocher, Chief Executive Officer of SunOpta. 'Both revenue and Adjusted EBITDA growth continued their double-digits trajectory, driven by robust volume gains across the breadth of our diverse portfolio. Earnings growth was equally strong. We also made significant progress advancing our operational initiatives to improve margins, including unlocking capacity and improving yields, which we expect to gain additional traction over the balance of 2025.' Kocher continued, 'Our new business pipeline has never been stronger and we are exceptionally well positioned to capitalize on these opportunities to drive sustainable growth and profitability. Across beverages and fruit snacks we can meet our growth requirements through 2026 with existing assets. Especially in the better-for-you fruit snack category, powerful tailwinds have significantly increased customer demand. Accordingly, we are announcing a new fruit snack manufacturing line at our Omak, Washington facility, that is already over-subscribed and is anticipated to come online in late 2026 to meet this demand for 2027 and beyond.' Second Quarter 2025 Results Revenues increased 12.9% to $191.5 million for the second quarter of 2025. The increase was driven by 14.4% volume growth partially offset by a 1.4% price reduction for pass-through pricing for certain raw material cost savings. Growth in volume/mix reflected volume growth for plant-based beverages, broth and fruit snacks as well as new product launches. Gross profit increased $7.2 million, or 34.0%, to $28.4 million for the quarter ended June 28, 2025, compared with $21.2 million for the quarter ended June 29, 2024. Gross margin was 14.8% for the quarter ended June 28, 2025, compared with 12.5% for the quarter ended June 29, 2024, an increase of 230 basis points. Adjusted gross margin¹, was 15.2% for the quarter ended June 28, 2025, compared with 16.0% for the quarter ended June 29, 2024. The 80-basis point decrease in adjusted gross margin reflects the timing lag on the pass-through of incremental tariff costs, investments in labor and infrastructure to improve long-term margins and incremental depreciation related to assets recently placed in service. These factors were partially offset by higher sales and production volumes for beverages, broths and fruit snacks driving improved plant utilization. Operating income increased by $8.5 million, to $10.5 million, compared to $2.0 million in the second quarter of 2024, reflecting higher gross profit and a favorable foreign exchange impact. Earnings from continuing operations increased 198% to $4.4 million for the second quarter of 2025 compared with a loss of $4.4 million in the prior year period. Diluted earnings per share from continuing operations attributable to common shareholders (after dividends and accretion on preferred stock) was $0.03 for the second quarter compared with diluted loss per share of $0.04 in the prior year period. Adjusted earnings¹ from continuing operations were $4.4 million or $0.04 per diluted share in the second quarter of 2025 compared to adjusted earnings from continuing operations of $2.2 million or $0.02 per diluted share in the second quarter of 2024. Adjusted EBITDA¹ from continuing operations was $22.7 million in the second quarter of 2025 compared to $20.0 million in the second quarter of 2024 driven by strong volume growth. Please refer to the discussion and table below under 'Non-GAAP Measures'. Balance Sheet and Cash Flow As of June 28, 2025, SunOpta had total assets of $704.9 million and total debt of $273.4 million compared to total assets of $668.5 million and total debt of $265.2 million at year end fiscal 2024. During the first two quarters of fiscal 2025, cash provided by operating activities of continuing operations was $17.8 million compared to $2.0 million during the first two quarters of fiscal 2024. The increase mainly reflected improved working capital efficiency, together with increased operating income, driven by revenue growth. Investing activities of continuing operations consumed $18.6 million of cash during the first two quarters of fiscal 2025 compared to $13.9 million in the first two quarters of fiscal 2024, reflecting higher capital expenditures together with non-recurring proceeds from the sale of the smoothie bowl product line. Net leverage 1 was 2.9x, compared to 3.0x at the end of fiscal 2024 and we continue to expect to achieve our 2.5x net leverage target by the end of this fiscal year. During the second quarter, the Company repurchased 163,227 common shares at an average price per share of $6.04, for total consideration of $1.0 million. As at June 28, 2025, there was $24.0 million of the authorized amount remained available under the Share Repurchase Program. 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 that are not exempt under USMCA. In response to these tariffs, at the beginning of the year we started communications with our customers regarding our intention to pass-through substantially all the incremental costs to our customers, similar to our pass-through pricing of raw material cost increases. By the middle of July, we successfully implemented new pricing arrangements with all of our customers to mitigate the full amount of known tariff exposure at that time. Due to the timing lag in passing through the tariff pricing adjustments, gross profit was negatively impacted by $1.6 million, reducing gross margin by 90 basis points in the second quarter. We expect to have a similar fiscal third quarter timing lag impact as we recover the recently announced tariff changes on August 1, 2025. While our pass-through mechanisms may have a timing lag, we continue to expect to recover substantially all additional costs of tariffs. 2025 Outlook 2 For fiscal 2025, the Company is raising its revenue outlook reflecting both the strong performance in Q2 and the expected impact of pass-through tariff pricing, and is reaffirming its adjusted EBITDA outlook: The revised outlook includes an increase of approximately $8 million in revenue and $10 million in cost of goods sold in the second half of 2025 simply due to the expected tariff expense, related pass-through pricing to our customers, and timing lag on implementing the pricing. Conference Call SunOpta plans to host a conference call at 5:30 P.M. Eastern time on Wednesday, August 6, 2025, to discuss the second 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 of 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, achieve net leverage targets 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 Balance Sheets As at June 28, 2025 and December 28, 2024 (Unaudited) (All dollar amounts expressed in thousands of U.S. dollars) June 28, 2025 December 28, 2024 $ $ ASSETS Current assets Cash and cash equivalents 2,161 1,552 Accounts receivable 58,851 46,314 Inventories 109,945 92,798 Prepaid expenses and other current assets 12,346 14,680 Income taxes recoverable 780 4,114 Total current assets 184,083 159,458 Restricted cash 8,003 7,460 Property, plant and equipment, net 345,968 343,618 Operating lease right-of-use assets 112,138 105,692 Intangible assets, net 22,041 20,077 Goodwill 3,998 3,998 Other long-term assets 28,709 28,224 Total assets 704,940 668,527 LIABILITIES Current liabilities Accounts payable 109,560 93,362 Accrued liabilities 15,189 17,876 Income taxes payable 70 638 Notes payable 8,211 11,110 Short-term debt 10,115 - Current portion of long-term debt 30,176 29,393 Current portion of operating lease liabilities 17,491 17,055 Total current liabilities 190,812 169,434 Long-term debt 233,080 235,798 Operating lease liabilities 105,684 99,328 Deferred income taxes 325 325 Total liabilities 529,901 504,885 Series B-1 Preferred Stock 15,223 15,048 SHAREHOLDERS' EQUITY Common shares 478,064 471,792 Additional paid-in capital 27,070 30,775 Accumulated deficit (347,327 ) (355,982 ) Accumulated other comprehensive income 2,009 2,009 Total shareholders' equity 159,816 148,594 Total liabilities and shareholders' equity 704,940 668,527 Expand SunOpta Inc. Consolidated Statements of Cash Flows For the two quarters ended June 28, 2025 and June 29, 2024 (Unaudited) (All dollar amounts expressed in thousands of U.S. dollars) Two quarters ended June 28, 2025 June 29, 2024 $ $ CASH PROVIDED BY (USED IN) Operating activities Net earnings (loss) 9,162 (2,455 ) Net loss from discontinued operations - (1,814 ) Earnings (loss) from continuing operations 9,162 (641 ) Items not affecting cash: Depreciation and amortization 19,686 17,686 Amortization of debt issuance costs 477 457 Deferred income taxes - (368 ) Stock-based compensation 3,735 7,088 Gain on sale of smoothie bowls product line - (1,800 ) Gain on sale of property, plant and equipment (244 ) - Other (194 ) (193 ) Changes in operating assets and liabilities, net of divestitures (14,844 ) (20,216 ) Net cash provided by operating activities of continuing operations 17,778 2,013 Net cash used in operating activities of discontinued operations - (2,310 ) Net cash provided by (used in) operating activities 17,778 (297 ) Investing activities Additions to property, plant and equipment (17,438 ) (17,259 ) Proceeds from sale of property, plant and equipment 1,284 - 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 (18,573 ) (13,923 ) Net cash provided by investing activities of discontinued operations - 6,300 Net cash used in investing activities (18,573 ) (7,623 ) Financing activities Proceeds from notes payable 80,070 70,477 Repayment of notes payable (82,969 ) (71,709 ) Net increase in borrowings under revolving credit facilities 6,762 26,350 Borrowings of short-term and long-term debt 18,600 - Repayment of long-term debt (19,016 ) (12,320 ) Proceeds from the exercise of stock options and employee share purchases 1,880 749 Payment of withholding taxes on stock-based awards (2,389 ) (2,659 ) Repurchase of common shares (991 ) - Payment of cash dividends on preferred stock - (305 ) Net cash provided by financing activities of continuing operations 1,947 10,583 Increase in cash, cash equivalents and restricted cash in the period 1,152 2,663 Cash, cash equivalents and restricted cash, beginning of the period 9,012 8,754 Cash, cash equivalents and restricted cash, end of the period 10,164 11,417 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 our normal business on a regular basis. The Company uses the measure of adjusted gross margin to evaluate the underlying profitability of our 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 tables present a reconciliation of adjusted gross margin from reported gross margin calculated in accordance with U.S. GAAP (all dollar amounts expressed in thousands of U.S. dollars). Adjusted Earnings When assessing financial performance, the Company uses an internal measure of adjusted earnings that excludes specific items recognized in other income or expense, and other 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 believes that the identification of these excluded items enhances the analysis of the financial performance of its business when comparing those operating results between periods, as the Company does not consider these items to be reflective of normal business operations. The following tables present a reconciliation of adjusted earnings from earnings (loss) from continuing operations, which the Company considers to be the most directly comparable U.S. GAAP financial measure (all dollar amounts expressed in thousands of U.S. dollars, except per share amounts). First Two Quarters Ended June 28, 2025 June 29, 2024 Per Share Per Share $ $ $ $ Earnings (loss) from continuing operations 9,162 (641 ) Accretion on preferred stock (175 ) (264 ) Earnings (loss) from continuing operations attributable to common shareholders 8,987 0.07 (905 ) (0.01 ) Adjusted for: Wastewater haul-off charges (a) 1,295 1,426 Start-up costs (b) - 2,675 Product withdrawal costs (c) - 2,145 Unrealized foreign exchange loss (gain) on restricted cash (d) (543 ) 838 Other (e) (56 ) (304 ) Gain on sale of smoothie bowls product line (f) - (1,800 ) Adjusted earnings from continuing operations 9,683 0.08 4,075 0.03 Expand Adjusted EBITDA The Company uses a measure of adjusted EBITDA from continuing operations when assessing the performance of its operations, which the Company believes is useful to users' understanding of the Company's operating profitability because it excludes non-operating expenses, such as interest, loss on sale of receivables, and income taxes, as well as non-cash expenses, such as depreciation, amortization, and stock-based compensation. In addition, the Company's measure of adjusted EBITDA excludes other unusual items that affect the comparability of its operating performance, as identified in the preceding determination of adjusted earnings from continuing operations. The Company also uses this measure of adjusted EBITDA to assess operating performance in connection with its employee incentive programs. The following tables present a reconciliation of adjusted EBITDA from continuing operations from earnings (loss) from continuing operations, which the Company considers to be the most directly comparable U.S. GAAP financial measure (all dollar amounts expressed in thousands of U.S. dollars). Second Quarter Ended June 28, 2025 June 29, 2024 $ $ Earnings (loss) from continuing operations 4,351 (4,437 ) Interest expense, net 5,301 6,410 Loss on sale of receivables* 537 - Income tax expense (benefit) 344 (17 ) Depreciation and amortization 9,960 9,110 Stock-based compensation 2,192 2,443 Adjusted for: Wastewater haul-off charges (a) 752 1,426 Start-up costs (b) - 2,348 Product withdrawal costs (c) - 2,145 Unrealized foreign exchange loss (gain) on restricted cash (d) (562 ) 838 Other (e) (131 ) (304 ) Adjusted EBITDA from continuing operations 22,744 19,962 * Included in other non-operating expense. Expand First Two Quarters Ended June 28, 2025 June 29, 2024 $ $ Earnings (loss) from continuing operations 9,162 (641 ) Interest expense, net 10,408 12,460 Loss on sale of receivables* 959 - Income tax expense 491 260 Depreciation and amortization 19,686 17,686 Stock-based compensation 3,735 7,088 Adjusted for: Wastewater haul-off charges (a) 1,295 1,426 Start-up costs (b) - 2,675 Product withdrawal costs (c) - 2,145 Unrealized foreign exchange loss (gain) on restricted cash (d) (543 ) 838 Other (e) (56 ) (304 ) Gain on sale of smoothie bowls product line (f) - (1,800 ) Adjusted EBITDA from continuing operations 45,137 41,833 * Included in other non-operating expense. Expand Footnotes (a) 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) Start-up costs mainly reflect the scale-up of production over the course of fiscal 2024 at our plant-based beverage facility in Midlothian, Texas. (c) Reflects certain direct costs, net of expected insurance recoveries, related to the voluntary withdrawal from customers in the second quarter of 2024 of certain batches of aseptically-packaged products. (d) Reflects unrealized foreign exchange (gains) or losses associated with peso-denominated restricted cash held in Mexico. (e) For the second quarter and first two quarters of 2025, other mainly reflects a gain on sale of property, plant and equipment, partially offset by a legal settlement loss. For the second quarter and first two quarters of 2024, other mainly reflects legal settlement gains. These other amounts are recorded in other income or expense. (f) Reflects the pre-tax gain on sale of the smoothie bowls product line in the first quarter of 2024, which is recorded in other income. Expand Net Leverage Net leverage is a non-GAAP financial measure that is calculated by dividing net debt (non-GAAP) by trailing four quarters adjusted EBITDA (non-GAAP). Net debt is defined by the Company as short-term debt plus current portion of long-term debt plus long-term debt less cash and cash equivalents. The Company uses net leverage as an assessment of its operating performance relative to its debt levels. The following tables present reconciliations of trailing four quarters adjusted EBITDA from continuing operations from loss from continuing operations and total debt to net debt, and the calculation of net leverage (all dollar amounts expressed in thousands of U.S. dollars). Trailing Four Quarters Ended June 28, 2025 December 28, 2024 $ $ Loss from continuing operations (1,671 ) (11,474 ) Interest expense, net 22,856 24,908 Loss on sale of receivables* 1,645 686 Income tax expense 1,701 1,470 Depreciation and amortization 38,497 36,497 Stock-based compensation 7,837 11,190 Adjusted for: Wastewater haul-off charges 4,230 4,361 Start-up costs 16,474 19,149 Product withdrawal costs - 2,145 Unrealized foreign exchange loss on restricted cash 226 1,607 Other 215 (33 ) Gain on sale of smoothie bowls product line - (1,800 ) Adjusted EBITDA from continuing operations 92,010 88,706 * Included in other non-operating expense. Expand $ As at June 28, 2025 Short-term debt 10,115 Current portion of long-term debt 30,176 Long-term debt 233,080 Total debt 273,371 Cash and cash equivalents (2,161 ) Net debt 271,210 For the trailing four quarters ended June 28, 2025 Adjusted EBITDA 92,010 Net leverage 2.9x As at December 28, 2024 Current portion of long-term debt 29,393 Long-term debt 235,798 Total debt 265,191 Cash and cash equivalents (1,552 ) Net debt 263,639 For the trailing four quarters ended December 28, 2024 Adjusted EBITDA 88,706 Net leverage 3.0x Expand
Newsweek
01-08-2025
- General
- Newsweek
CCTV Captures Moment Critically Ill Puppies Are Dumped Outside Shelter
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Pennsylvania SPCA are seeking help after a box of severely ill puppies were abandoned outside the ACCT Philly shelter last week. Security footage captured from the shelter parking lot at approximately 2:15 p.m. on July 24 showed the moment two people pulled into the shelter's parking lot, leaving a box near the entrance before driving away. When staff looked inside the cardboard box, they were shocked by what was inside. It contained two six-to-eight-week-old puppies suffering from terrible wounds and covered in maggots. ACCT Philly contacted the Pennsylvania SPCA's Animal Law Enforcement team, and the puppies were transferred to the PSPCA's hospital immediately. The puppies were in a "critical" state when they arrived and were quickly rushed to get medical help. Gillian Kocher, director of public relations at the PSPCA, told Newsweek: "The puppies had open wounds, some necrotic and were infested with maggots throughout their bodies." Pictures from the security footage of the dog drop off. Pictures from the security footage of the dog drop off. Pennsylvania SPCA The puppies, believed to be shepherd or husky mixes, were transferred to the Pennsylvania SPCA's hospital. One required emergency care at an off-site facility but both are now showing signs of improvement. "The puppies are not anywhere near being ready for adoption. We are still doing everything we can do ensure they survive. That is our main focus at this time," Kocher said. "We do hope that when they are stable enough, they are able to go into foster care to continue their recovery." According to the 2024 Shelter Animals Count Annual Report, approximately 5.77 million dogs and cats entered shelters and rescues across the United States through community intakes, which excludes animals transferred from other organizations. Of these, about 60 percent, or roughly 3.46 million animals, were found as strays, making stray intake the leading cause of shelter entries. This included approximately 1.7 million stray dogs and 1.79 million stray cats. Currently, the Pennsylvania SPCA Animal Law Enforcement team are working to try and established the details around the case. In a post on Facebook, the SPCA urged anyone with any information to come forward in helping to identify the people who left the animals at the shelter, hoping to ensure no other animals are in danger, and learn more about where the puppies came from. "An investigation is underway which is why we are working to identify the individuals in question," Kocher said. Anyone with information about the individuals in the footage is asked to contact the Pennsylvania SPCA's Humane Law Enforcement cruelty hotline at 866-601-7722 or email cruelty@ Tips can be left anonymously.
Yahoo
12-06-2025
- Business
- Yahoo
STKL Q1 Earnings Call: Volume Growth and Operational Progress Drive Upgraded Outlook
Plant-based food and beverage company SunOpta (NASDAQ:STKL) announced better-than-expected revenue in Q1 CY2025, with sales up 9.3% 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 $0.03 above analysts' consensus estimates. Is now the time to buy STKL? Find out in our full research report (it's free). Revenue: $201.6 million vs analyst estimates of $194.5 million (9.3% year-on-year growth, 3.7% beat) Adjusted EPS: $0.04 vs analyst estimates of $0.01 ($0.03 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 Sales Volumes rose 12.2% year on year (23.5% in the same quarter last year) Market Capitalization: $690 million SunOpta's first quarter results reflected steady volume-driven growth across its core categories, with management attributing the performance mainly to increased production capacity and customer demand in plant-based beverages, fruit snacks, and broth. CEO Brian Kocher emphasized, 'Our top five customers delivered year-over-year growth in Q1,' and highlighted the company's ability to unlock capacity in its manufacturing network, especially in the aseptic and fruit snacks facilities. While gross margin faced some pressure from investments in talent and temporary inefficiencies at the Midlothian plant, Kocher noted that the outperformance in the quarter was 'more on the capacity creation side than the demand side,' underscoring the operational improvements that enabled SunOpta to fulfill rising customer orders. Looking ahead, SunOpta's updated guidance is built on expectations of continued category growth and a robust sales pipeline, which management says now represents approximately 25% of annual projected revenue. Kocher pointed to ongoing product and channel diversification as key factors supporting 'a high degree of confidence in achieving our long-term revenue growth target of approximately 10%.' The company's margin outlook hinges on further unlocking manufacturing capacity, improving production yields, and executing a four-point operational plan to drive sequential margin improvements throughout the year. CFO Greg Gaba cautioned that while tariffs are a fluid risk, SunOpta intends to pass through incremental tariff costs, stating, 'We expect to substantially pass on all the incremental costs to our customers.' Management tied first-quarter growth to expanded capacity and broad demand across its product portfolio, while highlighting operational initiatives and external factors shaping profitability. Capacity unlock drove growth: Management cited increased production in both aseptic beverages and fruit snacks as the main contributor to volume gains, with Q1 output rising over 6% sequentially in the beverage network and 7% year-over-year in fruit snacks using existing equipment. Category and customer strength: All core categories—including plant-based beverages, fruit snacks, broth, and protein shakes—reported growth, with club channel and foodservice customers particularly outperforming. Kocher highlighted that 'each of our top five customers delivered year-over-year growth.' Operational challenges at Midlothian: The company is addressing a temporary bottleneck at its Midlothian facility due to a subscale wastewater system, which is limiting output and incurring excess costs. Management expects resolution by mid-2026, with continued reliance on other plants to meet demand until then. Margin improvement initiatives: A four-point operational plan is underway to boost gross margins, focusing on fixed cost leverage, production yield, labor productivity, and resolving technical bottlenecks. These efforts are expected to drive sequential expansion in gross margin for the remainder of the year and into 2026. Tariff cost strategy: SunOpta has begun communicating with customers to pass through new tariff-related costs on imported ingredients and products, aiming to minimize the impact on gross profit and adjusted EBITDA. Management does not expect a material hit to profitability, though revenue and margin rates may be affected by the pass-through approach. SunOpta's outlook is anchored by category growth, an expanding sales pipeline, and operational initiatives to improve margins and productivity. Sales pipeline momentum: Management identified a business development pipeline amounting to roughly 25% of annual sales, double the level of 15 months ago. This pipeline is diversified across categories and channels, and while not all will convert immediately, Kocher said it 'provides confidence in our long-term revenue growth target.' Operational execution risks: While the company anticipates sequential margin improvement from fixed cost leverage and yield initiatives, execution risks remain around fully realizing productivity gains and resolving the Midlothian bottleneck, which is expected to persist into mid-2026. Tariff and cost environment: The company expects to pass through most incremental tariff and raw material costs to customers, but acknowledges a timing lag and the possibility of short-term revenue and margin rate fluctuations due to evolving trade policy and input cost volatility. In coming quarters, the StockStory team will track (1) the pace of gross margin expansion from ongoing operational initiatives, (2) progress on resolving the Midlothian facility bottleneck, and (3) sustained customer and category momentum reflected in pipeline conversion. Monitoring the effectiveness of SunOpta's tariff pass-through strategy and its impact on both revenue and margin rates will also be important. SunOpta currently trades at a forward P/E ratio of 29.8×. In the wake of earnings, is it a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. 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
Yahoo
11-06-2025
- Science
- Yahoo
Experts warn that new strategies are needed to combat emerging threat to US coastlines: 'Embracing an alliance'
Amid rising sea levels, people in coastal communities may need to change the way they deal with the relentlessly advancing waters. It would behoove North Carolinians to alter their approach and work with nature rather than against it, Duke University marine biology student Ava Kocher wrote for the North Carolina Coastal Federation's Coastal Review. She said residents were fighting a losing battle to maintain their properties along the state's coast, warning that seawalls and bulkheads were a waste of money and suggesting that living shorelines can help shift "this combative approach" as "a step in the right direction." The Tarheel State's coastal marshes are shifting as rising global temperatures melt ice and expand seawater. These ecosystems are able to retreat with this slow onslaught — unless they are blocked by concrete or another human-made structure. Alyson Flynn, an environmental economist at the North Carolina Coastal Federation, told Kocher that the construction of such infrastructure on individual properties has forced neighbors to put up the same walls, as their land was eroding faster without it. "They felt like the only way to protect their property was to also put up a seawall," she said. "And so then it had this barricading effect across the whole shoreline." North Carolina will lose 98,000 acres of salt marsh by 2100, Coastwatch magazine reported last year. This is because rising sea levels are accelerating and outpacing land elevation gains. The results include a higher water table and more frequent and severe floods — and all the problems that come with those symptoms of the rapidly overheating planet, such as increasing fatalities, property damage, and insurance costs from extreme weather events such as hurricanes. "Sea level rise, that might be like your allergies … and then comes a hurricane," Christine Voss, a retired research associate at the University of North Carolina Chapel Hill's Institute of Marine Sciences, told Kocher. "And because you may have been worn down by your allergies, when the cold or the pneumonia or the flu comes by, you're actually more susceptible." Instead of hardening land in an impossible bid to ward off the sea, however, living shorelines — featuring plants, sand, or rock — can help mitigate risk and buy time, as one Havelock family showed. Kocher noted that homeowners Vernon and Michele Kelly chose this route instead of replacing a worn-out bulkhead. "Minnows seem to have figured out, 'Hey, we've got a sort of … haven here.' I've seen an increase of blue crabs in that sill area. And I actually had one oyster starting to grow," Vernon Kelly said. Do you worry about air pollution in and around your home? Yes — always Yes — often Yes — sometimes No — never Click your choice to see results and speak your mind. "What we've done, it'll save it for my lifetime, maybe my kids. But if Mother Nature really decides she wants to do something, we can't stop her," he added. As Vernon Kelly noted, this may be a long-term solution compared to a human lifespan, but it's actually temporary. Because the warming of Earth is caused primarily by the burning of dirty energy sources, the solution is to transition to cleaner forms of power, such as solar and wind. Swapping personal vehicle trips for public transit rides, making your next car an electric vehicle, and shopping at thrift stores help cut down the production of heat-trapping pollution — and will save you money. "Living shorelines are not the answer to save the coasts but they are a potential action toward reimagining future coastal resilience," Kocher concluded. "Relinquishing the ideal of a manicured waterfront is the start of embracing an alliance with the ecosystems we inhabit. Starting in backyards like Kelly's, there is an opportunity to recognize the value of wetlands and begin to dissolve the walls, physical and philosophical, built between humans and the sea." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Shafaq News
30-05-2025
- Business
- Shafaq News
Kurdistan's salary crisis escalates ahead of Eid
Shafaq News/As Eid al-Adha approaches, more than a million public servants in Iraq's Kurdistan Region face yet another holiday without salaries—caught in the crosshairs of a deepening standoff between Baghdad and Erbil that underscores unresolved constitutional, political, and economic rifts. The Iraqi government recently suspended salary payments for May 2025, accusing the Kurdistan Regional Government (KRG) of failing to deliver oil and non-oil revenues as mandated by the federal budget law and a Federal Supreme Court ruling. The Ministry of Finance warned of legal action to hold the KRG accountable, laying blame squarely on Erbil for disrupting monthly payments and social welfare programs. The row has intensified following the KRG's announcement of two major energy deals with American firms worth over $110 billion to develop gas and oil infrastructure in the Region. Baghdad views these agreements as violations of its sovereign authority, while Erbil insists the contracts fall within its constitutional right to enhance local revenues and diversify the Region's economic base. Responding to the federal decision, the KRG's Ministry of Finance and Economy said Baghdad owes Erbil over 4.22 trillion dinars (about $3B) and has yet to release the remaining 9.11 trillion dinars (around $6.5B) of Kurdistan's 2025 allocation. Kurdish officials argue that Baghdad's revenue calculations ignore the KRG's operational expenses and the local funds used to cover salary gaps. They also point to the federal government's failure to compensate victims of the Anfal genocide, which they say adds to long-standing grievances. 'The federal government is trying to create unconstitutional roadblocks,' the KRG stated, citing a February 2025 ruling by the Federal Supreme Court directing Baghdad to disburse salaries directly to Kurdish employees regardless of political disagreements. Erbil has framed the latest salary freeze as a political tactic that targets ordinary citizens and threatens regional stability. Since 2014, salary payments to the Kurdistan Region have shifted from fixed budget allocations to ad hoc 'emergency advances' subject to Baghdad's oversight. Each budget cycle has become a flashpoint for constitutional disputes, driven by the absence of a federal oil and gas law since 2007 and competing interpretations of revenue-sharing rules. For many Kurdish families, the result is a familiar cycle of uncertainty and hardship. Despite multiple court rulings, federal disbursements remain entangled in political maneuvering. Jamal Kocher, a Kurdish member of Iraq's financial committee, criticized Baghdad's decision as 'poorly timed and unjust,' warning that it effectively punishes over 1.2 million employees who are uninvolved in high-level political disputes. Kocher stressed that 'a series of steps must be taken to resolve this issue,' urging Prime Minister Mohammed Shia al-Sudani to 'respond to Iraqi citizens in a manner that promotes fairness. It is unacceptable for employees in Iraq to receive their salaries while those in the Kurdistan Region face cuts.' He also emphasized the need to engage the Federal Supreme Court to take further decisions on the matter. Political analyst Hamza Mustafa described the crisis as a symptom of deeper institutional dysfunction. 'The salary crisis is just the tip of the iceberg,' he said. 'The deeper issue is Iraq's failure to pass an oil and gas law for nearly two decades. As always, it's the citizens who pay the price.' The United States has called for calm, urging both Baghdad and Erbil to resolve the standoff through dialogue and constitutional mechanisms. A US State Department official told Shafaq News in an exclusive statement, 'A swift resolution will show that Iraq is prioritizing its citizens' welfare and create an environment attractive to investors.' He added that resolving the crisis could also signal readiness to reopen the suspended Iraq-Turkiye oil pipeline. This appeal follows recent high-level meetings in Washington, where KRG Prime Minister Masrour Barzani met with US Secretary of State Marco Rubio and other senior officials. The salary freeze comes at a delicate moment in Iraqi-Kurdish relations. Prime Minister Mohammed Shia al-Sudani faces competing pressures: demands from political blocs in Baghdad to assert federal control, and calls from international partners to ensure stability and fair treatment for the Kurds. Analysts believe al-Sudani is keen to avoid further escalation ahead of the holidays, with back-channel negotiations possibly underway to explore temporary fixes. However, without structural reforms—such as the long-stalled oil and gas legislation—many fear the cycle of crisis, court rulings, and emergency payments will continue to define Baghdad-Erbil relations. With public frustration mounting and Eid just days away, all eyes are now on whether Baghdad and Erbil can move beyond legal sparring to reach a sustainable fiscal settlement—or whether yet another round of crisis budgeting awaits the Kurdistan Region.
