Reed Anderson - ICR Joe Ennen - CEO Scott Huckins - CFO Greetings, and welcome to SunOpta's First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the prepared remarks. As a reminder, this conference is being recorded. As a reminder, please note that the prepared remarks which will follow contain forward-looking statements, and management may make additional forward-looking statements in response to your questions. The ...

SunOpta Inc. (NASDAQ:STKL) Q4 2022 Earnings Conference Call March 1, 2023 5:30 PM ET Company Participants Reed Anderson - ICR Joe Ennen - CEO Scott Huckins - CFO Conference Call Participants Brian Holland - Cowen Ryan Meyers - Lake Street Capital Markets Andrew Strelzik - BMO Capital Markets Alex Fuhrman - Craig-Hallum Jon Andersen - William Blair Operator Greetings, ladies and gentlemen, and welcome to SunOpta's Fourth Quarter 2022 Earnings Conference Call. All participants are currently in a listen-only m ...

Washington, D.C. 20549 FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-34198 SUNOPTA INC. (Exact Name of Registrant as Specified in Its Charter) CANADA Not Applicable (Jurisdiction of Incorporation) (I.R.S. Employer Ident ...

SunOpta Inc. (NASDAQ:STKL) Q3 2022 Results Conference Call November 9, 2022 5:30 PM ET Company Participants Joe Ennen - CEO Scott Huckins - CFO Conference Call Participants Brian Holland - Cowan & Company Andrew Strelzik - BMO Bobby Burleson - Canaccord Mark Smith - Lake Street Capital Markets Alex Fuhrman - Craig Hallum Jon Anderson - William Blair Operator Good afternoon, and welcome to SunOpta's Third Quarter 2022 Earnings Conference Call. By now, everyone should have access to the earnings press release ...

Sun®pta® Fueling the Future of Food 1 SunOpta Inc. Investor Presentation © SunOpta Inc. 2022 August 2022 Sun@pta® Fueling the Future of Food SunOpta Inc. Investor Presentation August 2022 Forward Looking Statements This presentation may include forward-looking statements and therefore is subject to important risks and uncertainties. Actual results could differ materially from the conclusions, forecasts and projections as certain material factors and assumptions were applied in drawing conclusions and in mak ...

SunOpta Inc. (NASDAQ:STKL) Q2 2022 Earnings Conference Call August 10, 2022 5:00 PM ET Company Participants Joe Ennen - CEO Scott Huckins - CFO Conference Call Participants Jon Andersen - William Blair Andrew Strelzik - BMO Capital Markets Brian Holland - Cowen and Company Mark Smith - Lake Street Capital Markets Alex Fuhrman - Craig-Hallum Capital Group Operator Good afternoon, and welcome to SunOpta's Second Quarter 2022 Earnings Conference Call. By now, everyone should have access to the earnings press r ...

Financial Data and Key Metrics Changes - Total revenue increased by 16% to $240 million, with approximately two-thirds of the growth attributed to pricing and one-third to volume gains [11][37] - Gross profit increased by 52%, while adjusted EBITDA rose by 46% compared to the previous quarter [6][13] - Gross margin declined by 270 basis points to 11.7% on a consolidated basis, but improved from 9% reported in Q4 [12][38] Business Line Data and Key Metrics Changes - Plant-based revenue increased by 13% to $136 million, with 60% of the growth from pricing and 40% from volume gains [18] - Fruit-based revenues rose by 19% to $105 million, driven primarily by pricing actions [30] - Oatmilk sales surged by 59% compared to Q1 2021, with the brands supported by the company capturing roughly one-third of the U.S. oatmilk market [8][18] Market Data and Key Metrics Changes - Revenue from the top five customers in the plant-based segment grew by 14%, reflecting significant contributions from new products [21] - The tea business saw a 26% increase, while oat-based ingredients grew by 37% [20] - Demand for fruit snacks increased by 29%, driven by volume gains and new product launches [31] Company Strategy and Development Direction - The company aims to double revenue and gross profit from 2020 to 2025, with significant investments in capacity expansion [24][51] - Strategic priorities include strengthening competitive advantages, building a strong ingredient business, and evolving the portfolio through innovation [17] - The company is focused on maintaining long-term partnerships with customers despite inflationary pressures [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about managing inflationary pressures, with only $2 million of inflation not covered by increased customer pricing [10] - The company maintains its revenue guidance for 2022 in the range of $890 to $930 million, expecting stronger margins in the second half of the year [49][51] - Management anticipates year-over-year adjusted EBITDA growth in Q2 and every quarter moving forward [36][51] Other Important Information - The company is making progress on its expansion initiatives, with four out of six capital projects completed, adding over $150 million in revenue capacity [24][85] - The new facility in Texas is on track for a Q4 startup, despite macro supply chain challenges [25][50] - The company has formalized its environmental, social, and governance (ESG) framework, highlighting its commitment to sustainability [34] Q&A Session Summary Question: Expectations for gross margin in Q2 - Management expects sequential improvement in gross margin from Q1 to Q2, with a potential year-over-year decline [56][57] Question: Impact of pricing on plant-based and fruit segments - Management noted that consumers are generally reluctant to trade off health-related products for cheaper alternatives, indicating resilience in the plant-based category [67] Question: Capacity expansion and its implications - Management confirmed that six projects are aimed at doubling revenue potential, with four already completed and contributing to current revenue [84][85] Question: One-time orders and their impact on future revenue - A significant one-time order contributed to Q1 revenue but is not expected to repeat in Q2 [75][71] Question: Inflation coverage and pricing strategies - Management indicated that pricing actions are being implemented on a customer-by-customer basis to cover inflationary costs [96][98]

Sun®pta® Fueling the Future of Food SunOpta Inc. Investor Presentation © SunOpta Inc. 2022 February 2022 1 Sun®pta® Fueling the Future of Food SunOpta Inc. Investor Presentation February 2022 Forward Looking Statements This presentation may include forward-looking statements and therefore is subject to important risks and uncertainties. Actual results could differ materially from the conclusions, forecasts and projections as certain material factors and assumptions were applied in drawing conclusions and in ...

Financial Data and Key Metrics Changes - Q4 consolidated gross margin was impacted by higher costs in plants without a corresponding increase in output, leading to a decline of 650 basis points to 9% [6][35] - Full year revenue was $813 million, with full year plant-based revenue growing 13% on an as-reported basis [15] - Adjusted EBITDA for Q4 was $10.7 million, down from $20.6 million in the prior year, reflecting a 48% decline [42] Business Line Data and Key Metrics Changes - Plant-based revenues increased 9.2% to $125 million in Q4, marking the 13th consecutive quarter of revenue growth [18] - Fruit-based revenue decreased 9.4% to $79 million in Q4, impacted by SKU rationalization and supply constraints [26] - Plant-based beverages were the primary driver of growth, with oat-based offerings increasing over 120% year-over-year [19] Market Data and Key Metrics Changes - The oat business grew 120% in Q4, indicating strong demand despite raw material availability issues [10][85] - The fruit snacks segment saw growth accelerate to 23.5% in Q4, reflecting positive trends in consumer preferences [26] Company Strategy and Development Direction - The company aims for strong top-line growth in 2022, with plant-based products expected to grow double digits and fruit business returning to growth largely via pricing [14] - Strategic priorities include strengthening competitive advantages in plant-based, building a strong ingredient business focused on oat, and evolving the fruit-based portfolio through innovation [17][25] - The new Texas plant is expected to significantly contribute to adjusted EBITDA, with a forecast of $100 million in 2023 [14][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that Q4 results do not reflect the company's future earnings potential, attributing challenges to supply chain issues and labor shortages [5] - The company anticipates strong demand in the plant-based segment, with expectations for production to improve by approximately 15% in Q1 [9] - Management highlighted that all known raw material cost inflation has been passed to customers, with pricing adjustments expected to be fully realized by the end of Q1 [11][67] Other Important Information - The company plans to host an Investor Day in Q2 to showcase its products and provide insights into its business strategy [49] - Capital expenditures are expected to be in the range of $110 million to $115 million, primarily driven by the new plant in Texas [48] Q&A Session Summary Question: What is the expected timeline for plant-based growth recovery? - Management expects continued acceleration in plant-based growth throughout 2022, with potential for higher growth rates in the second half [55] Question: How is the $100 million EBITDA target for fiscal 2023 structured? - The target reflects confidence in the Texas plant's contribution and continued core business growth, with a combination of new business and existing operations driving profitability [57] Question: What is the outlook for sales growth in each segment throughout the year? - Core growth is expected to be driven by plant-based products, with fruit business anticipated to return to growth due to pricing actions taken in 2021 [63] Question: How is the company managing raw material supply and pricing? - The company has covered 100% of its known raw material exposure through pricing adjustments, with no unrecovered inflation reported [67] Question: What are the long-term plans for automation in response to labor disruptions? - The company is already highly automated, but will continue to explore small-scale automation opportunities to improve efficiency [69]

Financial Data and Key Metrics Changes - Total company revenues in Q3 increased 3.6% to $198.5 million, impacted by supply chain disruptions [13][33] - Adjusted EBITDA increased 8.4% to $15.6 million, reflecting proactive management of SG&A [13][39] - Gross profit was $23.4 million, a decrease of $3.5 million compared to the prior year, with consolidated gross margin declining 220 basis points to 11.8% [34][39] Business Line Data and Key Metrics Changes - Plant-based revenue reached $114.9 million, up 16% year-over-year, marking the highest Q3 in plant-based history [17][33] - Fruit-based revenue was $83.6 million, down 9.7% year-over-year, attributed to SKU rationalization and shortages of certain fruit types [27][33] Market Data and Key Metrics Changes - Retail sales data for the plant-based milks category showed 6% growth over the last 13 weeks, with oat milk revenue up 65% [18][19] - The fruit snack category increased by 16% over the same period, with strong demand noted [29] Company Strategy and Development Direction - The company aims to double the size of its plant-based business, focusing on capacity expansion and innovation [23][31] - Strategic priorities include portfolio transformation, customer-centric innovation, and enhancing competitive advantages in the plant-based segment [9][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in labor and raw material availability but expressed confidence in overcoming these issues [12][84] - The outlook for Q4 anticipates mid- to high-single-digit growth, with expectations for sequential margin improvement [43][44] Other Important Information - The company is investing in new facilities to enhance production capabilities, including a new oat extraction facility [21][24] - Significant pricing adjustments are being implemented to address cost inflation in the fruit segment [30][76] Q&A Session Summary Question: Q4 outlook and segment margins - Management indicated that pricing actions are expected to benefit the fruit business, with different growth profiles for the segments [48] Question: Retail vs. food service growth - Stronger growth was observed on the retail side, particularly in oat milk, with confidence in long-term relationships with major customers [50][51] Question: Organic growth deceleration in plant-based - Management noted that labor and raw material supply issues impacted growth, but improvements are expected in Q4 [65][66] Question: Integration of recent acquisitions - Integration has gone smoothly, with a focus on driving accelerated growth post-integration [84] Question: Transportation costs and availability - Transportation costs have increased, but management has effectively managed these challenges through strategic contracting [86]