Maple Leaf Foods reports $53.5M Q4 profit compared with $9.3M loss a year earlier

Maple Leaf Foods Inc. reported a profit of $53.5 million in its fourth quarter compared with a loss of $9.3 million a year earlier.

The company says the profit amounted to 43 cents per share for the quarter ended Dec. 31 compared with a loss of eight cents per share a year ago.

Sales for the quarter totalled $1.24 billion, up from $1.19 billion in the last three months of 2023.

The company says prepared foods sales rose 4.6%, with prepared meats up 6.5% and poultry up 1.8%, offset in part by a 10.3% drop in plant protein sales. Sales in the pork operating unit increased 3.5%.

On an adjusted basis, Maple Leaf says it earned 38 cents per share in its latest quarter, up from an adjusted profit of eight cents per share a year earlier.

In its outlook for 2025, Maple Leaf says it expects revenue growth in the mid-single-digit range.