Canada 13.11.2023

Saputo Reports Strong Q2 Earnings of $156 Million Amidst Global Dairy Market Challenges

Source: The DairyNews
Saputo Inc. has announced robust second-quarter earnings of $156 million, showcasing a notable increase from $145 million in the corresponding period last year.
Saputo Reports Strong Q2 Earnings of $156 Million Amidst Global Dairy Market Challenges

The Montreal-based company revealed revenues of $4.3 billion for the quarter ending on September 30, slightly lower than the $4.5 billion recorded in the same quarter the previous year.

Earnings per diluted share demonstrated positive growth, reaching 37 cents compared to 35 cents in the previous year. Saputo attributes its resilient performance to stable overall sales volumes in the second quarter, despite the ongoing softening of global demand for dairy products. Higher domestic sales volumes effectively compensated for lower volumes on the export side.

Looking ahead, Saputo anticipates continued benefits throughout the financial year, driven by the carryover impact of price increases and various strategic initiatives. While acknowledging the challenges posed by the softening global demand, the company remains optimistic about its ability to navigate market conditions successfully.

Saputo also expects a moderation in near-term inflation on overall input costs, though the costs are projected to remain elevated. The company remains focused on strategic planning and initiatives to mitigate potential challenges, ensuring sustained growth and profitability in the dynamic dairy market landscape.

The positive earnings report reflects Saputo's adaptability and strategic approach, positioning the company well for future opportunities and challenges within the global dairy industry.

Ion Moraru
Ion Moraru
dairy expert
After a small task, Kyiv again and today participated with a report at the conference - All-Ukrainian Dairy Forum - 2023 "Financial mechanism for stimulating the development of milk production and processing in Ukraine in conditions of war"
Dmitry Dokin
Dmitry Dokin
Chairman of the Board of Directors of Shin-Line, Kazakhstan
Kazakhstani ice cream producers ended the warm season with a historical high. From May to September 2023, according to the Bureau of National Statistics (BNS), the country produced more than 46 thousand tons of ice cream and edible ice. This is 32.6% more than in the same period last year. Today, the share of domestic ice cream on the market is more than 80%.
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