Rogers Sugar reports record Q2 earnings and LEAP progress, positive for the company.

From Investing.com: 2024-05-12 19:52:16

Rogers Sugar Inc. (RSI) has reported a record-setting adjusted EBITDA of $38.1 million in Q2 2024, surpassing previous highs. New agreements and the successful resolution of a strike at the Vancouver refinery contributed to this success. The LEAP expansion project is progressing well, supported by a financing strategy that raised $112.5 million through equity offerings.

Looking ahead, Rogers Sugar anticipates another year of record financial results in fiscal 2024, with strong performance expected in both the Sugar and Maple segments. Despite concerns about rising cocoa prices impacting sales, the company remains confident in the Canadian sugar production economics and is focused on operational efficiency and profitability to ensure sustained success.

The company’s earnings call highlighted a strategic focus on executing and optimizing the business to generate consistent, profitable growth. Market trends, favorable sugar economics in Canada, and strong demand for sugar indicate a positive outlook for the company in the competitive sweetener industry. With a solid foundation for growth, Rogers Sugar is on track for continued success.



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