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Saputo Inc. sees earnings double in third quarter amid higher prices

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Montreal-based company says earnings per diluted share for its third quarter ended Dec. 31 were 43 cents, up from 21 cents in the same quarter last year

Saputo says the uptick in revenues reflects pricing initiatives across all its sectors, higher prices in the U.S. sector, and higher international dairy prices.

The company says its earnings were negatively impacted by restructuring costs of $27 million as part of its previously announced consolidation initiatives. The company recently announced major changes to its operations, including permanently closing three facilities in the U.S., building a new packaging facility and expanding its string cheese operations.

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