Q2 2024 Lassonde Industries Inc Earnings Call Transcript
Key Points
- Lassonde Industries Inc (LSDAF) reported a 7.8% increase in sales, driven by volume gains in the US and pricing adjustments in Canada.
- Operating profit improved by 21%, supported by efficiency gains and favorable timing on ingredient costs.
- The company successfully completed its North Carolina expansion project on time and on budget, enhancing capacity for single-serve products.
- Lassonde Industries Inc (LSDAF) achieved a 27% increase in adjusted EBITDA, reflecting improved profitability.
- The acquisition of Summer Garden is expected to enhance growth, profitability, and portfolio diversification for Lassonde Industries Inc (LSDAF).
- The company faces ongoing cost inflation, particularly in orange juice and concentrates, impacting Canadian operations.
- Sales volume in Canada declined, partially offsetting gains in the US.
- Higher SG&A expenses were reported, including costs related to the Summer Garden acquisition.
- The company anticipates higher input costs for the remainder of the year, particularly for orange juice and concentrates.
- Operating cash flow decreased compared to the previous year, mainly due to higher cash flow utilization from working capital.
Thank you for standing by, and welcome to the Lassonde Industries 2024 second quarter earnings conference call. (Operator Instructions) Before turning to management for the recorded remarks, please be advised that this conference call will contain statements that are forward-looking and subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. I would like to remind everyone that this conference call is being recorded today, Friday, August 9, 2024.
I would now like to turn the call over to Vince Timpano, President and Chief Operating Officer. Please go ahead.
Good morning, ladies and gentlemen. I'm here with Ãric Gemme, Chief Financial Officer of Lassonde Industries. Thank you for joining us for this discussion of the financial and operating results for our second quarter ended June 29, 2024. Our press release reporting, these results was published yesterday after market close. It can be found on our website at
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