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SunOpta, Inc. (Nasdaq: STKL) is a pioneering global supplier of organic ingredients, innovative product developer for brand owners, and a trusted packager of healthy and organic food. Headquartered in the U.S., SunOpta seamlessly integrates its operations from seed to packaged product, ensuring the highest quality and sustainability standards. With a workforce of approximately 1,800 employees worldwide, SunOpta offers three core consumer packaged goods platforms: Healthy Fruit, Healthy Beverages, and Healthy Snacks, all supported by an extensive global sourcing and supply infrastructure.
SunOpta specializes in the sourcing, processing, and manufacturing of organic and non-GMO food products. Their product portfolio encompasses plant-based beverages such as oat, almond, soy, coconut, and rice milks, and creamers. These beverages are known for their lower carbon emissions and water usage compared to traditional dairy options. Besides beverages, the company offers protein shakes, teas, broths, and fruit snacks under both private labels and their proprietary brands, including SOWN®, Dream®, and West Life™.
SunOpta has recently made significant strides in the industry. On October 13, 2023, the company announced the sale of certain assets of its frozen fruit operations, Sunrise Growers, to Nature's Touch. This strategic move allows SunOpta to focus more on its core competencies in the organic and non-GMO food sectors while aiding Nature's Touch in expanding its frozen food offerings across North America. This acquisition is aligned with SunOpta's commitment to sustainability and innovation, enhancing its ability to deliver high-quality, affordable food products globally.
Throughout its history, SunOpta has consistently evolved, maintaining a robust commitment to environmental responsibility and healthy food production. The company continues to focus on building a profitable and sustainable business model, aiming to lead the market in organic and non-GMO specialties. For more information, visit their website or follow them on LinkedIn and Twitter.
SunOpta (STKL) reported Q3 2024 financial results with revenue increasing 15.5% to $176.2 million, driven by 20.6% volume growth. The company posted a loss from continuing operations of $5.5 million, slightly improved from a $5.7 million loss in the prior year. Adjusted EBITDA from continuing operations rose 12.6% to $21.5 million. Gross profit increased 16.4% to $23.6 million, with adjusted gross margin improving to 17%. The company reaffirmed its 2024 outlook, expecting revenue of $710-730 million and adjusted EBITDA of $88-92 million.
SunOpta (Nasdaq:STKL, TSX:SOY), a sustainable food manufacturer, has announced its participation in the Stephens Annual Investment Conference scheduled for November 19-21, 2024, in Nashville. The company will engage with investors and conduct a fireside chat on November 19, 2024, at 10:00 a.m. Eastern Time. Investors can access the live webcast through SunOpta's website under the 'Investor Relations' section, with a replay available for approximately 30 days after the event.
SunOpta Inc. (Nasdaq:STKL, TSX:SOY), a leader in innovative and sustainable food manufacturing, has announced its schedule for the release of third quarter 2024 financial results. The company will disclose its financial performance for the quarter ending September 28, 2024, after market close on Tuesday, November 5, 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 the company's website at www.sunopta.com under the 'Investor Relations' section. For those unable to attend, a replay will be available on the website for approximately 90 days. 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.
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.
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