Maple Leaf Foods reports $53.7M net loss in Q2 as company faces inflationary pressure

The company will continue to be disciplined in its capital spending, said Verellen: “We’re taking this quarter by quarter.”

Despite the broad range of headwinds affecting Maple Leaf’s meat protein business, “the green shoots of improvement are growing,” wrote RBC analyst Irene Nattel in a note. She said the plant protein appears well on its way to break even in the second half of 2023. The company announced in late 2021 that it was launching a comprehensive review of its strategy for the plant protein division after seeing a slowdown in growth rates for the category. It found that the very high growth rates for plant protein products predicted by many industry experts likely won’t come to pass, Maple Leaf said.Article content

Maple Leaf is approaching an inflection point in late 2023 and into 2024, said Nattel, “but as always … the road from here to there is always bumpy.”

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