Maple Leaf Foods Inc. has released its fourth-quarter and full-year 2024 financial results, highlighting strong growth, improved margins, and a solid foundation for future expansion. The company attributes its performance to disciplined execution, strategic capital investments, and market stabilization.
Fourth Quarter Highlights:
- Revenue Growth: Sales increased by 4.3% year-over-year, reaching $1.237 billion.
- Earnings Surge: Adjusted EBITDA rose to $155 million, a 29% increase from the previous year.
- Margin Expansion: Adjusted EBITDA margin improved by 240 basis points to 12.5%.
- Profitability Rebound: The company reported net earnings of $53.5 million ($0.43 per basic share), compared to a $9.3 million loss in Q4 2023.
Full-Year 2024 Performance:
- Steady Growth: Total sales reached $4.895 billion, up 1.1% from 2023.
- Operational Strength: Adjusted operating earnings increased to $293.4 million from $193.2 million the previous year.
- Higher Earnings: Adjusted earnings per share rose to $0.78, up from $0.09 in 2023.
- Cash Flow Improvement: Free cash flow nearly doubled to $129.8 million.
Curtis Frank, President and CEO of Maple Leaf Foods, emphasized the company’s progress in stabilizing its operations and completing major capital projects. He noted that a renewed focus on consumer-packaged goods and operational efficiencies has positioned Maple Leaf Foods for sustained growth in 2025.
Looking ahead, the company aims for mid-single-digit sales growth, an Adjusted EBITDA of over $634 million, and the completion of the planned spin-off of its pork business. These initiatives are expected to drive profitability while maintaining Maple Leaf Foods’ commitment to sustainability and innovation in the protein market.
Maple Leaf Foods continues to strengthen its market position through strategic initiatives, efficiency improvements, and a focus on long-term value creation.
