Sunopta Inc Stock Price, News & Analysis

SunOpta Inc. has divested its sunflower business to Pacific Avenue Capital Partners for $16 million, completed on October 11, 2022. This strategic move is aimed at enhancing long-term growth and margins while reducing commodity trading exposure. The sunflower business, previously part of the Plant-Based Foods and Beverages segment, will now operate as Sunrich Products. The company anticipates an estimated after-tax loss of approximately $16 million, which will impact its third-quarter results.

ICR announced that Joe Ennen, CEO of SunOpta (NASDAQ: STKL), featured in Episode 47 of the podcast Welcome to the Arena. During the episode, Ennen discussed SunOpta's innovative strategy, capacity-building achievements, and focus on ESG initiatives. The podcast, created in August 2021, aims to provide insights from various industry leaders, emphasizing its regular bi-weekly schedule. Listeners can access the episode on platforms like Apple Podcasts and Spotify.

SunOpta reported strong financial results for Q2 2022, with revenue increasing 20.4% year-over-year to $243.5 million. Plant-based revenues surged 31.0%, driven by oat-based offerings, while fruit-based revenues grew 7.4%. Gross profit rose by $8.6 million to $34.9 million, yielding a gross margin of 14.3%. Net earnings reached $2.5 million, a turnaround from a $0.9 million loss last year. Adjusted EBITDA increased 38.4% to $22.3 million. The company raised its 2022 revenue guidance to $930-$960 million.

SunOpta Inc. (STKL) announced it will release its financial results for Q2 2022 on August 10, 2022, after the market closes. A conference call will follow at 5:00 PM Eastern Time to discuss the results and recent corporate developments. Interested investors can access the live webcast via SunOpta’s website. Established nearly 50 years ago, SunOpta is a leader in sustainable, plant-based and fruit-based food and beverages, producing natural and organic products for both retail and foodservice sectors.

SunOpta Inc. (Nasdaq:STKL) hosted its 2022 Investor Day, revealing a strong financial outlook. Projected revenue is expected to rise to $1.3 billion by 2025, with Adjusted EBITDA estimated at $150 million. The company reaffirmed its guidance for 2022 with revenues of $890 million to $930 million and adjusted EBITDA of $67 million to $75 million. For 2023, revenue is anticipated to reach $1.1 billion and adjusted EBITDA of $100 million.

SunOpta Inc. (Nasdaq: STKL) announced the election of directors during its annual meeting on May 26, 2022. Key results include Dr. Albert Bolles receiving 69.58% approval, while Joseph Ennen had 97.33%. Other elected directors include Rebecca Fisher, R. Dean Hollis, Katrina Houde, Leslie Starr Keating, Kenneth Kempf, and Mahes Wickramasinghe, all achieving over 95% approval. SunOpta is focused on sustainable, plant-based, and fruit-based food products and operates various brands in retail and foodservice channels.

SunOpta Inc. (NASDAQ: STKL) announced participation in two investor conferences: the BMO Global Farm to Market Conference on May 18-19, 2022, and the Cowen 6th Annual Future of the Consumer Conference on May 24-25, 2022, both in New York, NY. CEO Joseph Ennen and CFO Scott Huckins will participate in fireside chats on May 19 at 12:30 PM and May 25 at 2:05 PM, respectively. Live webcasts will be available on the company's website, with replays accessible for 30 days post-event.

SunOpta reported first-quarter 2022 revenue of $240.2 million, a 15.7% increase from the previous year, driven by 13.4% growth in plant-based foods and 18.7% in fruit-based foods. Gross profit reached $28.0 million, but gross margin decreased to 11.7% due to inflationary pressures. Adjusted EBITDA was $15.6 million, down 14.7% year-over-year. Despite challenges, the company is on track with major capacity expansion projects and reaffirms its 2022 revenue outlook of $890 million to $930 million. Net earnings were $0.7 million, down from $1.7 million in the prior year.

SunOpta (NASDAQ: STKL) announced it will release its financial results for Q1 2022 on May 11, 2022, after market close. A conference call will follow at 5:00 PM ET to discuss the results and corporate developments. Investors can access the live webcast via the company’s website or by phone using Conference ID: 8338433. With nearly 50 years in the market, SunOpta focuses on sustainable plant-based and fruit-based food and beverages, producing organic products under its own brands and for retail and foodservice channels.