SunOpta (STKL) Misses Q2 EPS by 2c; Offers FY23 Revenue Guidance

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Go back to SunOpta (STKL) Misses Q2 EPS by 2c; Offers FY23 Revenue Guidance

SunOpta Announces Second Quarter Fiscal 2023 Financial Results

August 9, 2023 5:00 PM EDT

Revenue declined 6.5% (adjusted for the divested Sunflower business), despite double digit growth in oat milk and fruit snacks

Net Loss of $18.8 million, including tax expense of $8.8 million mainly due to the recognition of a full valuation allowance for deferred tax assets and $2.5 million of net expense related to the frozen fruit recall versus net earnings of $1.5 million in the prior year period

Adjusted EBITDA of $20.2 million, or 9.7% of revenue, compared to $22.3 million or 9.2% of revenue in the prior year. The second quarter of 2022 included a $2.4 million adjusted... More