SunOpta (STKL) - 2024 Q4 - Annual Results

Revenue and Growth - Revenue from continuing operations increased 8.9% to $193.9 million, driven by 12.8$4.6 million compared to a loss of $3.0 million in the prior year period[10] - Adjusted EBITDA from continuing operations increased 20$26.1 million, representing 13.5% of revenues[11] - Gross profit decreased by 15.4% to $21.2 million, with a gross profit margin of 10.9$7.6 million or $0.06 per diluted share, compared to$4.5 million or $0.04 per diluted share in the prior year[11] - The company reported a net loss of$17.4 million for the year ended December 28, 2024, a significant improvement from a net loss of $178.8 million in the prior year[24] - Adjusted earnings from continuing operations for the year ended December 28, 2024, were$13,416 million, or $0.11 per share, compared to$5,847 million, or $0.05 per share, for the year ended December 30, 2023[34] Cash Flow and Assets - Cash provided by operating activities increased to$52.3 million from $3.6 million in the prior year[14] - Strong free cash flow enabled a$24.7 million sequential reduction of debt, achieving a leverage target of 3.0x[6] - Total assets as of December 28, 2024, were $668.5 million, with total debt of$265.2 million[14] - Cash and cash equivalents increased to $1.6 million as of December 28, 2024, from$306,000 as of December 30, 2023[23] - Total current liabilities increased to $169.4 million as of December 28, 2024, from$158.2 million as of December 30, 2023[23] Operational Highlights - The company has undergone significant capital expansion, including the construction of a new plant-based beverage facility in Midlothian, Texas[27] - Start-up costs for the year ended December 28, 2024, totaled $19,149 million, primarily related to production scale-up at the plant-based beverage facility in Texas[35] - Wastewater haul-off charges for the year ended December 28, 2024, amounted to$4,361 million due to volume constraints at the treatment system[39] - Product withdrawal costs for the year ended December 28, 2024, were $2,145 million, reflecting direct costs related to the withdrawal of specific batches of products[38] Expenses and Other Financial Metrics - Interest expense, net, for the year ended December 28, 2024, was$24,908 million, down from $26,909 million for the year ended December 30, 2023[34] - Depreciation and amortization for the year ended December 28, 2024, was$36,497 million, compared to $31,039 million for the year ended December 30, 2023[34] - Stock-based compensation for the year ended December 28, 2024, was$11,190 million, a decrease from $12,432 million for the year ended December 30, 2023[34] - The company recorded a gain on the sale of the smoothie bowls product line amounting to$1,800 million for the year ended December 28, 2024[34]