In first-quarter financial results released after markets closed Aug. 10, the dairy giant said it no longer expects to achieve its annual goal of $2.13 billion in earnings before interest, taxation, depreciation and amortization by March 2025.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYExclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others.
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Saputo Delays $2.1 Billion Profit Target Due to Market UncertaintySaputo, a leading dairy company, has announced that it is delaying its target of achieving $2.1 billion in profit before interest, taxation, depreciation, and amortization by March 2025. The CEO, Lino Saputo, cited the unpredictability of the market in terms of price and consumer confidence as the reason for the delay. Despite this setback, Saputo remains confident in their plan and ability to carry out their projects effectively. Analysts have expressed hope for the company, as dairy markets have strengthened in the second quarter and the impact of adverse market conditions on profitability was less than anticipated.
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