Maple Leaf Foods Inc

Latest Results (14.08.2024):

Adjusted EBITDA Growth

In the second quarter of 2024, Maple Leaf Foods Inc. reported an Adjusted EBITDA of $141 million, marking a 37% increase compared to the same quarter in the previous year. This growth was driven by several factors, including a 3.2% year-over-year sales growth in the prepared meats business, improved pork market conditions, and contributions from large capital projects.

Sales Performance

Maple Leaf Foods Inc. recorded sales of $1,261 million for the second quarter of 2024, slightly down from $1,266 million in the same period last year. While sales in the Prepared Foods unit increased by 1%, the Pork operating unit saw a decline of 4.2% compared to the previous year.

Net Loss Reduction

The company reported a net loss of $26 million ($0.21 per basic share) for the second quarter of 2024, an improvement from the $54 million loss ($0.44 per basic share) recorded in the same quarter last year. This reduction in loss was attributed to better pork market conditions and operational efficiencies.

Free Cash Flow Improvement

Maple Leaf Foods Inc. saw a significant improvement in Free Cash Flow, which reached $27 million in the second quarter of 2024, compared to a negative $76.3 million in the same period last year. This improvement was driven by better earnings, lower restructuring payments, and reduced investment in working capital.

Net Debt Reduction

As of June 30, 2024, Maple Leaf Foods Inc.'s Net Debt stood at $1,723 million, a decrease of $84.3 million compared to the previous year. This reduction reflects the company's focus on deleveraging its balance sheet and improving its financial position.