Saputo misses earnings expectations despite acquisition-fuelled revenue boost

Excluding one-time items, adjusted earnings fell seven per cent to $125.8 million or 32 cents per diluted share. That was down from $135.3 million or 35 cents per share in the fourth quarter of 2018.Saputo was expected to earn 38 cents per share in adjusted profits on $3.3 billion in revenue, according to analysts polled by Thomson Reuters Eikon.

For the full year, Saputo’s profit fell 11.4 per cent to $755.3 million. Adjusted profits equalled $623.6 million or $1.59 per share, down from $704.2 million or $1.80 per share in 2018. Revenue rose 17 per cent to $13.5 billion, from $11.5 billion a year earlier.Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Campbell Soup boosts outlook as strength in snack brands helps company beat estimatesThe company has been doubling down on its snack business with acquisitions, increased marketing investments and new product launches
Source: globeandmail - 🏆 5. / 92 Read more »