Rogers Sugar Reports Increased Earnings in Q3 Despite Sales Volume Decline


Rogers Sugar, a Canadian company, saw a significant rise in earnings during the latest quarter, even as sugar and maple syrup sales volumes declined.

Financial Performance

In the third quarter, Rogers Sugar recorded net earnings of CAD 14.2 million ($10.5 million), equivalent to CAD 0.12 per share. This is an improvement from the previous year’s earnings of CAD 3.1 million or CAD 0.03 per share.

Adjusted per-share earnings remained steady at CAD 0.08, indicating consistent performance.

Furthermore, the company’s revenue for the fiscal quarter increased by 3% to CAD 262.3 million.

Sugar Segment

Rogers Sugar experienced a decline in sales volume within its sugar segment, which dropped by 11,904 metric tons to 191,411 tons. The company attributed this decrease mainly to an unexpected surge in demand following a temporary market disruption in the second half of fiscal 2022.

Maple Sales

Similarly, maple sales volumes decreased by 2.4 million pounds to 9.6 million pounds in the quarter. Although lower demand contributed to this decline, it was partially offset by higher pricing and lower operating costs according to Rogers Sugar.

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