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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.
West Life™, formerly Westsoy, introduces a new line of 16g Protein Smoothie Blends available nationwide. These blends, offered in Chocolate and Unsweetened Plain, contain 16 grams of complete protein from soy and nine essential amino acids. Priced at $5.69 per 32-fluid ounce container, they are dairy-free, Non-GMO Project Verified, and certified gluten-free. This product supports SunOpta's mission of sustainable, plant-based nutrition, appealing to consumers seeking nutritious, versatile options.
SunOpta has launched its Dream Organic Ricemilk in 'Whole' and '2% Fat' varieties, available nationwide at major retailers like Whole Foods, Walmart, and Amazon. The products are certified organic, Non-GMO, lactose-free, and gluten-free, appealing to consumers with dietary restrictions. Each variety is enriched with essential nutrients found in dairy. SunOpta emphasizes its commitment to sustainability, aligning with its values of environmentally friendly sourcing and production. The suggested retail price is $4.29 for a 32-ounce container.
SunOpta Inc. (Nasdaq:STKL) announced the resignation of Ken Kempf from its Board of Directors, effective December 30, 2022, to pursue other business investments. Kempf, who joined the Board in June 2020, was instrumental in providing insights and served on the Audit and Compensation Committees. Board Chair Dean Hollis expressed gratitude for Kempf's contributions, while Engaged Capital's Glenn Welling reiterated their commitment as significant shareholders and confidence in SunOpta's growth potential. Engaged Capital has supported SunOpta for six years, aiding in its strategic positioning.
SunOpta reported a 15.7% revenue growth in Q3 2022, achieving $229.7 million in total revenues. The growth stemmed from 19.9% increase in plant-based products and 10.0% in fruit-based offerings. Gross margin expanded by 190 basis points to 13.7%. However, the company faced a net loss of $12.6 million, compared to a loss of $3.0 million in the prior year. Adjusted EBITDA rose 41.7% to $22.1 million. SunOpta has raised its fiscal 2022 outlook, projecting revenues of $923 - 943 million and adjusted EBITDA of $76 - 80 million.
SunOpta Inc. (NASDAQ:STKL) will announce its third-quarter 2022 financial results on November 9, 2022, after market close. A conference call to discuss the results will follow at 5:30 PM Eastern Time. Investors can join the live webcast via SunOpta's website or dial in at toll-free (888) 440-4182, using Conference ID: 8338433. The company specializes in sustainable, plant-based and fruit-based food and beverages, boasting a history of almost 50 years in manufacturing organic and specialty products.
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.
Spruce Point Capital Management issued a report indicating that MGPI (MGP Ingredients) faces significant downside risks of 35% to 55%, equating to a share price range of $45.70 to $66.00. Key issues raised include slowing growth and declining market share of the Bulleit Whiskey brand, failure to realize benefits from the merger with Luxco, and potential misstatements in SEC filings. The report highlights deteriorating earnings quality with diverging GAAP net income and operating cash flows, raising concerns about MGPI's transformation into a branded spirits company amidst shifting consumer trends.
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.
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