SunOpta Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 05:00 pm EST
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SunOpta Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 152.54 million compared to USD 144.02 million a year ago. Net loss was USD 145.82 million compared to USD 11.93 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago. Basic loss per share was USD 1.26 compared to USD 0.12 a year ago. Diluted loss per share was USD 1.26 compared to USD 0.12 a year ago.
For the nine months, sales was USD 448.67 million compared to USD 431.61 million a year ago. Net loss was USD 163.28 million compared to USD 5.9 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to basic earnings per share from continuing operations of USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.19 compared to diluted earnings per share from continuing operations of USD 0.02 a year ago. Basic loss per share was USD 1.45 compared to USD 0.08 a year ago. Diluted loss per share was USD 1.45 compared to USD 0.08 a year ago.
SunOpta Inc. provides sustainable, plant-based food and beverages. The Company manufactures organic and specialty products sold through retail and foodservice channels. It operates as a manufacturer for natural and private label brands and also produces its own brands, including SOWN, Dream and West Life. Its product portfolio includes a range of plant-based beverages, including oat, almond, soy, coconut and rice milks and creamers. Its plant-based offerings include non-genetically modified (non-GMO), organic, and gluten-free products. Its consumer products portfolio includes protein shakes, teas, broths, and fruit snacks. The Company sells its products through various distribution channels, including branded products under co-manufacturing agreements to other branded food companies for their distribution and its own branded products to retail and foodservice customers. It also produces liquid and dry ingredients for internal use and for sale to other food and beverage manufacturers.