Stock Story -
Plant-based food and beverage company SunOpta (TSX:SOY) (NASDAQGS:STKL) will be reporting earnings tomorrow afternoon. Here's what you need to know.
SunOpta beat analysts' revenue expectations by 8.3% last quarter, reporting revenues of $182.8 million, up 18% year on year. It was a solid quarter for the company, with full-year revenue guidance exceeding analysts' expectations and a decent beat of analysts' gross margin estimates.
Is SunOpta a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting SunOpta's revenue to grow 13.3% year on year to $159.9 million, a reversal from the 42% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 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 Q2 results, giving us a hint as to what we can expect. BellRing Brands delivered year-on-year revenue growth of 15.6%, beating analysts' expectations by 2%, and J&J Snack Foods reported revenues up 3.3%, in line with consensus estimates.
Read the full analysis of BellRing Brands's and J&J Snack Foods's results on StockStory.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. SunOpta is down 11.9% during the same time and is heading into earnings with an average analyst price target of $9.8 (compared to the current share price of $4.87).
