Financial News
What To Expect From SunOpta’s (STKL) Q3 Earnings
Plant-based food and beverage company SunOpta (NASDAQ:STKL) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
SunOpta beat analysts’ revenue expectations by 6.9% last quarter, reporting revenues of $171 million, up 21.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ earnings estimates and full-year revenue guidance exceeding analysts’ expectations.
Is SunOpta a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting SunOpta’s revenue to grow 13.4% year on year to $173 million, improving from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SunOpta has missed Wall Street’s revenue estimates five times over the last two years.
Looking at SunOpta’s peers in the shelf-stable food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Mondelez delivered year-on-year revenue growth of 4%, meeting analysts’ expectations, and Utz reported a revenue decline of 1.7%, in line with consensus estimates. Mondelez’s stock price was unchanged after the resultswhile Utz was up 7.1%.
Read our full analysis of Mondelez’s results here and Utz’s results here.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. SunOpta is up 15.4% during the same time and is heading into earnings with an average analyst price target of $9.83 (compared to the current share price of $6.68).
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