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.