Saputo sees earnings rise to $156 million in second quarter

MONTREAL — Saputo Inc. says it earned $156 million in its second quarter, up from $145 million a year earlier.

The Montreal-based company says revenues for the quarter ended Sept. 30 were $4.3 billion, down from 4.5 billion during the same quarter last year.

Earnings per diluted share were 37 cents, up from 35 cents a year earlier.

Saputo says overall sales volumes were stable in its second quarter despite continued softening of global demand for dairy products, with higher domestic sales volumes more than offsetting lower volumes on the export side.

The company says during the rest of the financial year it expects to benefit from the carryover impact of price increases as well as other initiatives.

It also expects near-term inflation on its overall input costs to moderate, but remain elevated.

This report by The Canadian Press was first published Nov. 9, 2023.

Companies in this story: (TSX:SAP)

The Canadian Press