Sunopta Inc Stock Price, News & Analysis

SunOpta Inc. (Nasdaq:STKL) has appointed Mahes S. Wickramasinghe to its Board of Directors. Wickramasinghe brings extensive international experience in finance, banking, operations, and risk management. He is expected to join the Audit Committee. Dean Hollis, Chairman of the Board, emphasized that Wickramasinghe's expertise in corporate strategy, mergers, and acquisitions will be vital as SunOpta aims to meet its strategic goals. Wickramasinghe has previously held senior positions at Canadian Tire Corporation and CIBC, and is a Certified Public Accountant.

On May 27, 2021, SunOpta Inc. (Nasdaq:STKL) held its annual meeting of shareholders, electing several directors to serve until the next meeting. Notable results include Dr. Albert Bolles receiving 92.15% support, Derek Briffett with 98.47%, and Joseph Ennen at 98.56%. Other directors elected include Rebecca Fisher, R. Dean Hollis, Katrina Houde, Leslie Starr Keating, and Ken Kempf, all securing over 96% of votes in favor.

SunOpta specializes in organic, natural, and non-GMO plant-based and fruit-based food and beverage products.

SunOpta (STKL) reported Q1 2021 revenues of $207.6 million, flat compared to last year, with a 12.4% increase in plant-based foods offset by declines in fruit-based revenues. Plant-based revenues reached $119.5 million, growing 47.0% since 2019. Gross margin improved to 14.4%, while adjusted EBITDA rose 34% to $18.3 million. The company also completed the acquisition of Dream and WestSoy brands for $33 million, expected to add $6-$8 million in adjusted EBITDA in 2022.

SunOpta Inc. (Nasdaq:STKL) has announced it will release its financial results for the first quarter 2021 before market opening on May 12, 2021. Following the release, a conference call is scheduled for 9:00 AM Eastern Time to discuss the results and recent developments, which will include a Q&A session. Investors can access the live webcast and conference call through the company's website. SunOpta specializes in the sourcing and production of organic, natural, and non-GMO food products.

SunOpta Inc. (Nasdaq:STKL) has acquired the Dream® and WestSoy® plant-based beverage brands from The Hain Celestial Group for $33 million. This strategic purchase aims to boost SunOpta's Plant-Based Foods and Beverages segment, enhancing growth in this market. The Dream brand, a pioneer in shelf-stable plant-based milks, and WestSoy, renowned for its organic certification, complement SunOpta's existing production portfolio. The acquisition is financed through a new $20 million FILO term loan, reflecting SunOpta's commitment to organic and inorganic growth in plant-based offerings.

SunOpta reported Q4 2020 financial results with revenues of $205.6 million, up 10.4% from $186.1 million in Q4 2019. Gross margin improved to 15.5%, from 11.9% a year earlier. The company's earnings reached $70.2 million or $0.78 per share, a recovery from a loss of $7.6 million in Q4 2019. Adjusted EBITDA rose to $20.6 million, or 10.0% of revenues. However, a net loss from continuing operations amounted to $34.3 million. The balance sheet strengthened significantly, with total debt decreasing from $480 million to $69.7 million post the divestiture of Tradin Organic.

SunOpta Inc. (Nasdaq:STKL, TSX:SOY) announced it will report its fourth quarter 2020 financial results before markets open on March 3, 2021. A conference call is scheduled for 9:00 AM ET, following the results release, which will include a Q&A session for investors. Interested parties can join via a live webcast or pre-register for a telephone line through SunOpta's website. The company is known for specializing in organic, natural, and non-GMO plant-based food and beverage products.

SunOpta Inc. (Nasdaq:STKL) announced that Oaktree Capital Management will exchange all Series A Preferred Shares for common stock, representing 12.3% of outstanding shares post-exchange, effective around February 17, 2021. Oaktree initially invested $85 million in 2016, with an 8% annual dividend of $7 million. After the exchange, Oaktree will control 19% of voting shares and keep rights to nominate two board members. CEO Joe Ennen highlighted Oaktree's partnership in accelerating growth.

SunOpta Inc. (Nasdaq:STKL, TSX:SOY) announces a strategic investment in its Plant-Based Foods and Beverages segment, aimed at expanding the capacity of its Allentown, Pennsylvania plant. This follows three significant projects in 2020, with expectations for new capacity to be operational by Q4 2021. Additionally, the company is closing its frozen fruit processing plant in Santa Maria, California, effective February 1, 2021, to streamline operations and reduce costs, while maintaining relationships with growers. These actions are part of a broader optimization strategy to enhance profitability.