Rogers Sugar Inc
TSX:RSI
Rogers Sugar Inc
Rogers Sugar, Inc. engages in the refining, packaging, and marketing of sugar products. The company is headquartered in Vancouver, British Columbia and currently employs 884 full-time employees. The firm operates through two segments: Sugar, which includes refined sugar and by-products and Maple, which includes maple syrup and maple-derived products. The firm operates through its wholly owned subsidiaries, Lantic Inc. (Lantic) and The Maple Treat Corporation (TMTC). Lantic’s sugar products include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups. Lantic operates cane sugar refineries in Montreal, Quebec, Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. TMTC products include maple syrup and derived maple syrup products supplied under retail private label brands sold under various brand names, such as L.B. Maple Treat, Great Northern, Decacer and Highland Sugarworks. TMTC operates bottling plants in Granby, Degelis, St-Honore-de-Shenley, Quebec and Websterville, Vermont.
Rogers Sugar, Inc. engages in the refining, packaging, and marketing of sugar products. The company is headquartered in Vancouver, British Columbia and currently employs 884 full-time employees. The firm operates through two segments: Sugar, which includes refined sugar and by-products and Maple, which includes maple syrup and maple-derived products. The firm operates through its wholly owned subsidiaries, Lantic Inc. (Lantic) and The Maple Treat Corporation (TMTC). Lantic’s sugar products include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups. Lantic operates cane sugar refineries in Montreal, Quebec, Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. TMTC products include maple syrup and derived maple syrup products supplied under retail private label brands sold under various brand names, such as L.B. Maple Treat, Great Northern, Decacer and Highland Sugarworks. TMTC operates bottling plants in Granby, Degelis, St-Honore-de-Shenley, Quebec and Websterville, Vermont.
Strong Earnings: Rogers Sugar reported consolidated adjusted EBITDA of $47 million, up 18% year-over-year, with adjusted net earnings rising 27% to $25 million.
Stable Cash Flow: Free cash flow for the trailing 12 months was $89.3 million, up about 4% from last year.
Revenue Down: Quarterly revenue declined to under $300 million from $331 million last year, mainly due to lower sugar prices and reduced sales volumes.
Guidance Update: Sugar sales volume for 2026 is forecast at 750,000 metric tons, about 4% lower than 2025, with stable domestic demand and export weakness.
Margin Improvement: Adjusted gross margin per ton in the Sugar segment jumped to $304, partly due to nonrecurring and timing items; Maple segment margins stabilized around 10.6%.
LEAP Project Progress: The LEAP expansion in Montreal remains on schedule and budget, with start-up targeted for the first half of 2027.
Cost Pressures: Modest increases in production, maintenance, distribution, and admin costs expected in 2026, but tight cost control remains a focus.
Maple Segment Growth: Maple revenue rose 8% on higher volumes, with continued global demand and expectations for 5% volume growth in 2026.
