Saputo food company ekes out slightly higher revenue, profit in latest quarter
MONTREAL – Saputo Inc. (TSX:SAP) eked out a only slightly higher profit and revenue in its latest quarter, coming in slightly below analyst estimates.
The Montreal-based cheese, dairy and bakery company had $130 million or 65 cents per share of net income, a penny short of analyst estimates.
Its revenue was $1.8 billion, about $100 million less than the consensus estimate compiled by Thomson Reuters.
The profit was up $200,000 or one cent per share from a year earlier while revenue was up by just $4.1 million from $1.796 billion.
Saputo said it faces challenges in obtaining milk at competitive prices in several countries where it operates.
The company is Canada’s largest dairy processor and the 12th-biggest in the world and producer of several brands of snack cakes.
It also has a major presence in the United States and Argentina.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.