Q3 2024 Lassonde Industries Inc Earnings Call Transcript
Key Points
- Lassonde Industries Inc (LSDAF) reported a 14.5% increase in third-quarter sales, driven by higher sales volume in the US and selling price adjustments in Canada.
- The company's consolidated operating profit improved by 32% from the previous year, reflecting strong performance across all divisions.
- Lassonde Industries Inc (LSDAF) announced a $200 million investment to build a new state-of-the-art facility in New Jersey, expected to enhance competitiveness and efficiency.
- The acquisition of Summer Garden contributed $26.7 million in sales over approximately seven weeks, indicating successful integration and potential for future growth.
- The company is focused on expanding its reach in the away-from-home channel and improving efficiency through insourcing and strategic investments in its US operations.
- The company faced a disruption from Hurricane Allen, which affected the ramp-up of its North Carolina single-serve line, leading to some missed opportunities.
- Higher input costs, particularly for orange juice and concentrates, continue to impact profitability, necessitating efficiency improvements to sustain profit growth.
- Lassonde Industries Inc (LSDAF) reported a one-time expense of $4.3 million related to the step-up of Summer Garden's finished goods inventory, affecting gross profit margins.
- The company's net debt increased to $456 million due to borrowing for the Summer Garden acquisition, raising the net debt to adjusted EBITDA ratio.
- Potential tariffs and global trade uncertainties pose risks to the cost of goods, particularly for imported concentrates and packaging materials.
Good morning. Ladies and gentlemen, thank you for standing by. Welcome to the Lassonde Industry 2024 3rd quarter earnings conference call at this time. (Operator Instructions)
Before turning to management. 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, November the 8th 2024.
I would now like to turn the call over to Vincent Timpano, Chief Executive Officer. Please go ahead.
Good morning. Ladies and gentlemen. I am here with GM Chief Financial Officer of Lassonde Industries. Thank you for joining us for this discussion of the financial and operating results. For our third quarter ended September 28th 2024.
Our press release reporting. These results was published yesterday after markets closed,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
