Lassonde Industries Inc
TSX:LAS.A
Lassonde Industries Inc
Lassonde Industries, Inc. is engaged in the development, manufacturing and sale of fruit and vegetable juices and drinks. The company is headquartered in Rougemont, Quebec and currently employs 2,700 full-time employees. The firm offers fruit-based snacks in the form of bars and bites as well as frozen juice concentrates in North America and a producer of fruit juices and drinks in Canada. The firm is also a producer of store-brand shelf-stable fruit juices and drinks in the United States and cranberry sauces. The firm also develops, manufactures, and markets specialty food products, such as fondue broths and sauces as well as pasta sauces. In addition, the Company produces apple cider and cider-based beverages and imports selected wines from several countries of origin for packaging and marketing purposes. The company also imports selected wines from various countries of origin for packaging and marketing purposes. The Company’s subsidiaries include Lassonde Pappas and Company, Inc., Lassonde Specialties Inc., Sun-Rype Products Ltd., and Arista Wine's Brands.
Lassonde Industries, Inc. is engaged in the development, manufacturing and sale of fruit and vegetable juices and drinks. The company is headquartered in Rougemont, Quebec and currently employs 2,700 full-time employees. The firm offers fruit-based snacks in the form of bars and bites as well as frozen juice concentrates in North America and a producer of fruit juices and drinks in Canada. The firm is also a producer of store-brand shelf-stable fruit juices and drinks in the United States and cranberry sauces. The firm also develops, manufactures, and markets specialty food products, such as fondue broths and sauces as well as pasta sauces. In addition, the Company produces apple cider and cider-based beverages and imports selected wines from several countries of origin for packaging and marketing purposes. The company also imports selected wines from various countries of origin for packaging and marketing purposes. The Company’s subsidiaries include Lassonde Pappas and Company, Inc., Lassonde Specialties Inc., Sun-Rype Products Ltd., and Arista Wine's Brands.
Sales Growth: Lassonde reported sales of $579 million for Q2, up 9.4% from last year, driven primarily by pricing actions and a better product mix.
Profitability Up: Adjusted EBITDA jumped 46% to $59 million, and adjusted profit per share rose to $3.89 from $2.36 last year.
Margin Improvement: Gross margin improved quarter-over-quarter to 26%, mainly due to the impact of earlier price increases and plant efficiency gains.
Working Capital & Debt: The company notably improved working capital and reduced long-term debt to $228 million from $268 million in the prior quarter.
Guidance Maintained: Management reaffirmed full-year sales growth expectations in the mid to high single digits, mainly on the back of price increases.
Strategic Execution: Portfolio optimization in the US is largely complete, with focus now shifting to building volume back at higher margins.
