Sunopta Inc Stock Price, News & Analysis

SunOpta Inc. (Nasdaq:STKL) (TSX:SOY) has announced a significant expansion of its Dream Oatmilk Barista product. In January 2025, the oatmilk will be available in an additional 6,700 stores across North America through a partnership with a large coffee chain. This expansion will utilize the oat extraction capacity from SunOpta's Modesto, California investment announced in June 2024 and expand utilization of its manufacturing facility in Midlothian, Texas.

CEO Brian Kocher emphasized the company's commitment to providing delicious plant-based alternatives while focusing on sustainability. SunOpta aims to reduce water usage, packaging waste, and carbon emissions through its nationwide manufacturing network and recyclable packaging formats. The plant-based milk market is expected to grow significantly, with oatmilk becoming the second most popular plant-based beverage option.

SunOpta Inc. (Nasdaq:STKL) (TSX:SOY) has appointed David (Dave) Lemmon to its Board of Directors. Lemmon, with over 25 years of experience in business expansion and revenue growth, will also serve on the Compensation and Corporate Governance Committees. He is currently the CEO of Hunter Amenities International and previously held key leadership roles at The J.M. Smucker Company.

Leslie Starr, Chair of the SunOpta Board, expressed enthusiasm for Lemmon's addition, citing his expertise in driving business growth and transformation. The announcement also noted the departure of Kathy Houde from the Board after 24 years of service, acknowledging her significant contributions to SunOpta's growth and transformation.

SunOpta (Nasdaq:STKL) (TSX:SOY) has expanded its SOWN brand with the introduction of Oat Cold Foaming Cream, now available at select Whole Foods Market stores nationwide. This plant-based, vanilla-flavored cold foam offers a convenient way to recreate barista-quality cold foam at home. The product is Non-GMO Project Certified, Gluten Free Certified, and Kosher Certified.

SOWN Oat Cold Foaming Cream is designed to sit atop cold brew or iced coffee after 30 seconds of frothing. Priced at $6.99 for 32-fluid-ounce cartons, it aims to capitalize on the growing popularity of cold foam add-ons in coffee shops. The product aligns with SunOpta's focus on innovative, sustainable food manufacturing and expands its portfolio of plant-based beverages and snacks.

SunOpta Inc. (Nasdaq:STKL) (TSX:SOY) reported strong Q2 2024 financial results, with revenue from continuing operations increasing 21% to $171 million, driven by 26.9% volume growth. The company experienced a loss from continuing operations of $3.8 million, an improvement from $11.7 million loss in the prior year. Adjusted EBITDA from continuing operations increased 12% to $20.6 million.

Key highlights include:

• Gross profit increased 17.3% to $21.8 million
• Adjusted earnings from continuing operations was $2.8 million
• Operating income improved to $2.6 million

SunOpta raised its 2024 revenue outlook to $710-730 million, expecting 13-16% growth. The company maintains its adjusted EBITDA guidance at $88-92 million, projecting 12-17% growth.

SunOpta Inc. (Nasdaq:STKL) (TSX:SOY), a sustainable food manufacturer, has announced the schedule for its second quarter 2024 financial results release and conference call. The company will release its financial results for the quarter ended June 29, 2024, after market close on Wednesday, August 7, 2024. Following the release, SunOpta will host a conference call at 5:30 p.m. Eastern Time to discuss the results and recent corporate developments.

Investors can access the live webcast through SunOpta's website under the 'Investor Relations' section. The call can also be accessed via toll-free dial-in at (888) 440-4182 or international dial-in at (646) 960-0653 using Conference ID: 8338433. A replay of the webcast will be available on the company's website for approximately 90 days after the call.

SunOpta (Nasdaq: STKL) has announced that its SOWN® Organic Oat Creamers will be available at Lunds & Byerlys grocery stores in Minnesota starting in July. The upscale retailer will stock four flavors: Unsweetened, Vanilla, Sweet & Creamy, and Brown Sugar, priced at $6.49 each. SOWN's creamers are USDA-certified organic, Non-GMO Project verified, gluten-free, kosher, and vegan. This expansion aims to enhance coffee experiences with plant-based options. SunOpta focuses on crafting organic, plant-based beverages and snacks, driving growth for leading brands.

SunOpta (Nasdaq: STKL) has completed a $26 million expansion at its Modesto, California facility, the company's second largest capital project. The expansion boosts oatmilk production by over 60%, meeting increased demand. The Modesto plant now spans 167,684 square feet and added 17 new jobs, bringing total local employment to 208. The facility's new oat extraction production line uses proprietary enzymatic processes and reduces freight miles by nearly 800,000 yearly, aligning with SunOpta's sustainability efforts. This investment is part of a broader strategy to scale production and reduce carbon emissions.

SunOpta Inc. (Nasdaq: STKL) held its annual meeting on May 23, 2024, where new directors were elected. Leslie Starr was appointed as the new Independent Board Chair, succeeding Dean Hollis. Starr has been with the board since 2019 and is expected to drive SunOpta's growth and strategic initiatives. The detailed voting results showed strong support for the nominees, with most receiving above 95% favorability. Dean Hollis will continue to serve as a director.

SunOpta Inc. announced its participation in two upcoming investor conferences, the BMO Global Farm to Market Conference and William Blair's Annual Growth Stock Conference. The Company will meet with investors, participate in fireside chats, and host presentations at the events. Live webcasts will be available on the Investor Relations section of SunOpta's website, with replays accessible for thirty days after each conference.