Saputo reports $142M Q1 profit, revenue up nearly 10% from year ago

By The Canadian Press on August 9, 2024.

MONTREAL – Saputo Inc. reported a profit of $142 million in its latest quarter as its revenue rose nearly 10 per cent compared with a year ago.

The cheese and dairy company says the profit amounted to 33 cents per diluted share for the quarter ended June 30 compared with a profit of $141 million or 33 cents per diluted share a year earlier.

Revenue totalled $4.61 billion for what was the first quarter of the company’s 2025 financial year, up from $4.21 billion in the same quarter last year.

On an adjusted basis, Saputo says it earned 39 cents per diluted share for its latest quarter compared with an adjusted profit of 36 cents per diluted share a year earlier.

The company says the results reflected a continued solid performance by its Canadian business, meaningful improvements in the U.S. and higher sales volumes across its operations.

Saputo chair and CEO Lino Saputo says the company remains optimistic heading into the balance of the year as it continues to make progress on its strategic plan.

This report by The Canadian Press was first published Aug. 9, 2024.

Companies in this story: (TSX:SAP)

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