CA - Maple Leaf Foods Inc. (MLFNF) Q1 2024 Earnings Call Transcript

2024-05-04 09:02:09 ET

Maple Leaf Foods Inc. (MLFNF)

Q1 2024 Earnings Conference Call

May 2, 2024, 8:00 AM ET

Company Participants

Janet Craig - Investor Relations

Curtis Frank - President and CEO

Dave Smales - Chief Financial Officer

Conference Call Participants

Luke Hannon - Enstoa

Irene Nattel - RBC Capital Markets

George Doumet - Scotiabank GBM

Mark Petrie - CIBC Capital Markets

Michael Van Aelst - TD Securities

Vishal Shreedhar - National Bank Financial

Tamy Chen - BMO Capital Markets

Presentation

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Maple Leaf’s First Quarter 2024 Financial Results Conference Call. As a reminder, this conference call is being broadcast live on the Internet and recorded. All lines have been placed on mute to prevent any background noise. Please note that there will be a question-and-answer session following the formal remarks. We will go over the instructions for the question-and-answer session following the conclusion of the formal presentation.

I would now like to turn the conference over to Janet Craig, Investor Relations at Maple Leaf Foods. Please go ahead, Ms. Craig.

Janet Craig

Thank you, Joelle, and good morning, everyone. Speaking on the call this morning will be Curtis Frank, President and Chief Executive Officer; and Dave Smales, Chief Financial Officer.

Before we begin, I would like to remind you that some statements made on today’s call may constitute forward-looking information and our future results may materially differ from what we discuss. Please refer to our Q1 2024 MD&A and other information on our website for a broader description of operations and risk factors that could affect the company’s performance.

We’ve uploaded our Q1 investor deck to our website, which includes support material for the quarter. As always, the Investor Relations team will be available after the call for any follow-up questions you may have.

And with that, I’ll turn the call over to Curtis Frank. Please go ahead, Curtis.

Curtis Frank

Thank you, Janet, and good morning, everyone. It’s great to be with you here again today. When we were last together in February, we had just announced our refreshed Strategic Blueprint. We also communicated our plans to migrate to a new business structure that will lead us into our next chapter of creating shared value.

With these changes now in place, we have updated our reporting for this quarter. Now that Plant Protein is integrated as a category, we’ve moved away from reporting the Meat Protein and Plant Protein segment separately and have migrated instead to reporting a One Maple Leaf view of our consolidated earnings.

That said, to help bridge through this transition, we’ve also provided you with some additional information that outlines how we think about our two operating units, the key drivers of our business and some helpful reference points to help you to understand our performance....

For further details see: