- SunOpta ( NASDAQ: STKL ) Q2 shows a jump of 20.4% in revenue to $243.5M, beats consensus by $23.83M .
- The Plant-Based Foods and Beverages segment generated revenues of $145.9M, an increase of 31.0%; The Fruit-Based Foods and Beverages segment generated revenues of $97.6M, an increase of 7.4%.
- Adjusted EBITDA increased 38.4% to $22.3M.
- Gross profit increased $8.6M to $34.9M and gross margin expanded 130 basis points to 14.3%.
- “Second quarter results were excellent, driven by strong revenue growth and our highest Adjusted EBITDA in company history. Revenues were up 20.4%, and Adjusted EBITDA increased 38.4% as we continued to leverage the power of our platform to accelerate growth and increase profitability,” said Joe Ennen, CEO.
- Non-GAAP EPS of $0.03 (vs. $0.00 Y/Y).
- Revised 2022 Outlook : prior revenue $890M-930M revised to $930M-960M ( vs. consensus $929.82M ); Adjusted EBITDA $67M-75M revised to $72-78; Revenue growth 10% - 14% revised to 14% - 18%; Adjusted EBITDA growth 10% - 24% revised to 19% - 28%
- Hold rating on the stock by contributor who comments: ' SunOpta: Fairly Valued Today But Potentially Attractive For Speculators In The Future '
- Sell-side analyst give the stock a Strong Buy rating with an average price target of $13.8.
- Previously (Aug. 10): SunOpta Q2 Non-GAAP EPS, revenue up, FY22 guidance raised
For further details see:
SunOpta rises 3% after upward revision of 2022 guidance