Maple Leaf Foods Q4 Report


Maple Leaf Foods reported a tightened loss in the fourth quarter, although revenue growth fell short of expectations due to ongoing struggles in its plant protein segment.

Improved Financial Performance

The Canadian consumer-packaged meats company disclosed a narrowed net loss of 9.3 million Canadian dollars ($6.9 million), or C$0.08 a share, compared to a loss of C$41.5 million, or C$0.34 per share, in the same quarter last year. The company attributed this improvement to enhanced pricing strategies addressing inflation, robust pork markets, and advantages from strategic construction projects.

Adjusted earnings stood at C$0.08 per share, which fell significantly below analyst projections of a rise to C$0.17, as per a FactSet poll.

Revenue Growth

Even though total sales increased by 0.6% to C$1.19 billion, this figure missed analyst consensus estimates of reaching C$1.21 billion. Sales in the meat protein segment experienced a slight growth of 0.8% amounting to C$1.16 billion, while the plant protein segment observed an 8.9% decline totaling C$36.5 million. Maple Leaf Foods attributed the drop in the plant protein segment sales to reduced retail volumes.

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