SunOpta (STKL) Misses Q3 EPS by 2c, Revenues Miss

SunOpta (NASDAQ: STKL) reported Q3 EPS of ($0.04), $0.02 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $308 million versus the consensus estimate of $320.04 million.

“We generated 2.0% adjusted revenue growth during the third quarter, led by our beverage, snack and organic ingredient platforms. Success in our go-to-market effectiveness pillar positions us for continued revenue growth in the fourth quarter,” said David Colo, Chief Executive Officer. “We successfully commercialized approximately 100 private label broth and frozen fruit SKUs during the quarter, and our sales opportunity pipeline remains robust. The expansion project in our aseptic beverage platform remains on track, and during the quarter we completed final commissioning of our organic cocoa processing facility. These projects will enable us to capitalize on our sales opportunity pipeline, while also providing needed capacity to support our current growth trajectory. While we remain on track to deliver $20 million of productivity savings this year, plant start-up costs and inefficiencies in our domestic ingredients business, combined with our continued investment to return the frozen fruit platform to profitable growth, offset these productivity improvements during the quarter. We are committed to making the necessary investments to sustainably improve profitability in 2019 and beyond.”

For earnings history and earnings-related data on SunOpta (STKL) click here.

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