SunOpta Highlights Long-Term Growth Strategies at Investor Day
03 June 2022 - 9:30PM
Business Wire
Revenue projected to increase to $1.3
billion in 2025
Adjusted EBITDA1,2 projected to reach
$100 million in 2023 and $150 million in 2025
SunOpta Inc. (“SunOpta” or the “Company”) (Nasdaq:STKL)
(TSX:SOY), a U.S.-based, global pioneer fueling the future of
sustainable, plant-based and fruit-based food and beverages,
yesterday hosted its 2022 Investor Day.
“I would like to thank everyone who attended our Investor Day in
person or online through our webcast. Our strategic transformation
over the past several years has put SunOpta in an enviable
leadership position within the fastest growing plant-based
categories,” said Joe Ennen, Chief Executive Officer of SunOpta.
“Industry trends remain strong and we will continue to leverage our
competitive advantages to drive significant gains in revenues and
profitability, maximizing value for shareholders.”
Investor Day Highlights
The event outlined SunOpta’s differentiated capabilities and
long-term strategies to drive value for shareholders including
sources of competitive advantage and foundations of growth.
Financial highlights included:
- Reaffirmed 2022 guidance2:
- Revenue $890 million - $930 million, Adjusted EBITDA1 $67
million – 75 million
- Reaffirmed 2023 outlook2
- Revenue $1.1 billion and Adjusted EBITDA1 of $100 million
- Provided 2025 outlook2
- Revenue $1.3 billion and Adjusted EBITDA1 of $150 million
Investors interested in listening to a replay of the Investor
Day webcast can access a link on SunOpta’s website at
www.sunopta.com under the “Investor Relations” section. The replay
of the webcast will be archived and can be accessed for
approximately 90 days.
1 See discussion of non-GAAP measures
2 The Company has included certain forward-looking statements
about the future financial performance that include non-GAAP
financial measures, including Adjusted EBITDA. These non–GAAP
financial measures are derived by excluding certain amounts,
expenses or income, from the corresponding financial measures
determined in accordance with GAAP. The determination of the
amounts that are excluded from these non-GAAP financial measures is
a matter of management judgment and depends upon, among other
factors, the nature of the underlying expense or income amounts
recognized in a given period. We are unable to present a
quantitative reconciliation of the aforementioned forward-looking
non-GAAP financial measures to their most directly comparable
forward-looking GAAP financial measures because management cannot
reliably predict all of the necessary components of such GAAP
measures. Historically, management has excluded the following items
from certain of these non-GAAP measures, and such items may also be
excluded in future periods and could be significant amounts.
- Expenses related to the acquisition or divestiture of a
business, including business development costs, impairment of
assets, integration costs, severance, retention costs and
transaction costs;
- Start-up costs of new facilities and equipment;
- Charges associated with restructuring and cost saving
initiatives, including but not limited to asset impairments,
accelerated depreciation, severance costs and lease abandonment
charges;
- Asset impairment charges and facility closure costs;
- Legal settlements or awards; and
- The tax effect of the above items.
About SunOpta Inc.
SunOpta (Nasdaq:STKL) (TSX:SOY) is a U.S.-based, global pioneer
fueling the future of sustainable, plant-based and fruit-based food
and beverages. Founded nearly 50 years ago, SunOpta manufactures
natural, organic and specialty products sold through retail and
foodservice channels. SunOpta operates as a manufacturer for
leading natural and private label brands, and also proudly produces
its own brands, including SOWN, Dream, WestSoy and Sunrise Growers.
For more information, visit www.sunopta.com and LinkedIn.
Forward-Looking Statements
Certain statements included in this press release may be
considered "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation, which are based on
information available to us on the date of this release. These
forward-looking statements include, but are not limited to, our
belief that investment in plant-based foods and beverages will
continue to be a significant driver of revenue and margin growth,
and our ability to drive further year-over-year adjusted EBITDA
improvement. Generally, forward-looking statements do not relate
strictly to historical or current facts and are typically
accompanied by words such as “continue”, “expect”, “believe”,
“anticipate”, “estimates”, “can”, “will”, “target”, "should",
"would", "plans", "becoming", "intend", "confident", "may",
"project", "potential", "intention", "might", "predict", “budget”,
“forecast” or other similar terms and phrases intended to identify
these forward-looking statements. Forward-looking statements are
based on information available to the Company on the date of this
release and are based on estimates and assumptions made by the
Company in light of its experience and its perception of historical
trends, current conditions and expected future developments
including, but not limited to, the Company’s actual financial
results; uninterrupted operations and service levels to our
customers during COVID-19; current customer demand for the
Company’s products and the additional anticipated demand due to
COVID-19; general economic conditions; continued consumer interest
in health and wellness; the Company’s ability to maintain product
pricing levels; planned facility and operational expansions,
closures and divestitures; cost rationalization and product
development initiatives; alternative potential uses for the
Company’s capital resources; portfolio optimization and
productivity efforts; the sustainability of the Company’s sales
pipeline; the Company’s expectations regarding commodity pricing,
margins and hedging results; improved availability and field prices
for fruit; procurement and logistics savings; freight lane cost
reductions; yield and throughput enhancements; and labor cost
reductions. Whether actual timing and results will agree with
expectations and predictions of the Company is subject to many
risks and uncertainties including, but not limited to, potential
loss of suppliers and customers as well as supply chain, logistics
and other disruptions resulting from or related to COVID-19;
unexpected issues or delays with the Company’s structural
improvements and automation investments; failure or inability to
implement portfolio changes, process improvements, go-to-market
improvements and process sustainability strategies in a timely
manner; changes in the level of capital investment; local and
global political and economic conditions; consumer spending
patterns and changes in market trends; decreases in customer
demand; delayed or unsuccessful product development efforts;
potential product recalls; working capital management; availability
and pricing of raw materials and supplies; potential covenant
breaches under the Company’s credit facilities; and other risks
described from time to time under "Risk Factors" in the Company's
Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q
(available at www.sec.gov). Consequently, all forward-looking
statements made herein are qualified by these cautionary statements
and there can be no assurance that the actual results or
developments anticipated by the Company will be realized. The
Company undertakes no obligation to publicly correct or update the
forward-looking statements in this document, in other documents, or
on its website to reflect future events or circumstances, except as
may be required under applicable securities laws.
Non-GAAP Measures
In addition to reporting financial results in accordance with
U.S. GAAP, the Company provides additional information about its
operating results regarding segment operating income, adjusted
earnings and adjusted earnings before interest, taxes, depreciation
and amortization (“Adjusted EBITDA”), which are not measures in
accordance with U.S. GAAP. The Company believes that segment
operating income, adjusted earnings and adjusted EBITDA assist
investors in comparing performance across reporting periods on a
consistent basis by excluding items that are not indicative of its
operating performance. The non-GAAP measures of segment operating
income, adjusted earnings and adjusted EBITDA should not be
considered in isolation or as a substitute for performance measures
calculated in accordance with U.S. GAAP.
In order to evaluate its results of operations, the Company uses
certain other non-GAAP measures that it believes enhance an
investor’s ability to derive meaningful period-over-period
comparisons and trends from the results of operations. In
particular, the Company evaluates its revenues on a basis that
excludes the effects of fluctuations in commodity pricing and the
impacts of acquisitions and divestitures. In addition, the Company
excludes specific items from its reported results that due to their
nature or size, it does not expect to occur as part of its normal
business on a regular basis. These non-GAAP measures are presented
solely to allow investors to more fully assess the Company’s
results of operations and should not be considered in isolation of,
or as substitutes for an analysis of the Company’s results as
reported under U.S. GAAP.
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version on businesswire.com: https://www.businesswire.com/news/home/20220603005125/en/
Reed Anderson ICR 646-277-1260 reed.anderson@icrinc.com
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