CA - Maple Leaf Foods reports Q4 earnings beat; initiates FY23 outlook
2023-03-09 06:11:34 ET
- Maple Leaf Foods press release ( OTCPK:MLFNF ): Q4 Non-GAAP EPS of -C$0.28.
- Revenue of C$1.19B (+6.3% Y/Y).
- Adjusted EBITDA margin for the fourth quarter decreased to 4.7% from 6.8% last year, consistent with the factors noted above.
- Outlook: Meat Protein: Expect mid-to-high single digit sales growth in 2023, and Adjusted EBITDA Margin expansion to achieve a target range of 14% - 16% when conditions normalize.
- Plant Protein: Targeting to deliver neutral or better Adjusted EBITDA in the latter half of 2023.
- Capital expenditure: for 2023 is expected to be less than C$250 million with up to C$120 million attributable to maintenance projects and the balance attributable to growth capital.
For further details see:
Maple Leaf Foods reports Q4 earnings beat; initiates FY23 outlook