Lassonde Industries Inc. ( (LSDAF) ) has released its Q3 earnings. Here is a breakdown of the information Lassonde Industries Inc. presented to its investors.
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Lassonde Industries Inc. is a leading North American company in the food and beverage sector, specializing in a diverse range of products including ready-to-drink beverages, fruit-based snacks, and specialty food items. The company operates 19 plants across Canada and the United States, boasting a workforce of over 2,900 employees.
In its third-quarter 2024 earnings report, Lassonde Industries Inc. reported significant growth in both sales and profit, driven by robust performance across its divisions. The company’s sales increased by $84.9 million compared to the same period last year, with notable contributions from newly introduced products in Canada and volume gains in the U.S. beverage market.
Key financial metrics for the quarter include a gross profit of $179.8 million, an operating profit of $47.2 million, and a net profit attributable to shareholders of $29.7 million. The company also highlighted the acquisition of Summer Garden, which has bolstered its specialty food offerings and opened access to new markets. The strategic expansion plans, including a new plant in New Jersey, are expected to enhance the company’s market position.
Looking ahead, Lassonde Industries Inc. anticipates continued growth, with expectations of a mid-to-high single-digit sales increase for the year, despite challenges such as inflationary pressures and fluctuating commodity costs. The company remains focused on strategic investments to support innovation and expansion, aiming to strengthen its leadership in the North American food and beverage industry.
