SunOpta: Announces First Quarter 2024 Financial Results

Minneapolis / MN. (so) SunOpta Inc., an innovative and sustainable manufacturer fueling the future of food, announced financial results for the first quarter ended March 30, 2024. First Quarter highlights:

  • Revenues of USD 182.8 million increased 18.0 percent compared to USD 155.0 million in the year earlier period, driven by 23.5 percent volume growth partially offset by a 5 percent price reduction for pass-through commodity pricing
  • Gross profit of USD 31.7 million increased 31.8 percent compared to USD 24.1 million in the prior year period
  • Operating income of USD 10.2 million compared to USD 0.5 million in the prior year period
  • Earnings from continuing operations were USD 3.8 million compared to a loss of USD 2.8 million in the prior year period
  • Adjusted Ebitda from continuing operations1 increased 20.8 percent to USD 22.6 million, or 12.3 percent of revenues, compared to USD 18.7 million and 12.0 percent of revenues in the prior year period.

«SunOpta’s first quarter performance was defined by excellent revenue growth across our portfolio of products, customers, and channels, which continue to see healthy, broad-based demand,» said Brian Kocher, Chief Executive Officer. «We are encouraged by the progress of our capacity investments and our operational improvement initiatives, which are supporting significant volume growth, driving our revenue trajectory and enabling us to improve gross margin. Based on the strength of first quarter results, the relentless pursuit of operational excellence, our robust pipeline of opportunities and confidence in our business momentum, we are increasing our 2024 outlook.»

For additional information please read the Company’s PDF file below (147 KB):