A Maple Leaf Foods plant in Toronto is shown on Oct. 19, 2011. THE CANADIAN PRESS/Frank Gunn
TORONTO – Maple Leaf Foods Inc. reported a loss of $4.3 million in its latest quarter compared with a loss of $229.5 million a year earlier when the company took a large one-time, non-cash impairment charge related to its plant protein business.
The company says the loss amounted to four cents per share for the quarter ended Sept. 30 compared with a loss of $1.86 per share in the same quarter last year.
Sales in the company’s third quarter totalled $1.25 billion, up from $1.23 billion a year earlier.
On an adjusted basis, Maple Leaf says it earned 13 cents per share for the quarter compared with an adjusted loss of a penny per share a year ago.
Analysts on average had expected an adjusted profit of 21 cents per share and $1.30 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv.
In its outlook, Maple Leaf says its capital expenditures for 2023 are expected to be about $200 million, down from its earlier guidance of less than $250 million.
This report by The Canadian Press was first published Nov. 2, 2023.
Companies in this story: (TSX:MFI)
