Financial Report

Saputo has made five acquisitions in the last 13 months, bumping up its revenue. Pic: Getty/haurashko_ksu

Saputo’s annual revenue jumps 17% after three acquisitions

By Beth Newhart

Saputo Inc. reported its latest fourth quarter and fiscal year results, ending March 31. It completed a series of acquisitions last year that contributed to higher revenue, while low cheese prices and struggles with the Canadian dollar hurt overall earnings.

The Kerrygold Butter is now the number two butter brand in the US, with 2.6m packets sold every week. Pic: Ornua

Ornua notches a €40m operating profit in 2018

By Beth Newhart

Ornua, producer of the Kerrygold brand, released its full-year 2018 results that showcased a strong performance in its key European and US markets. It also broke ground on a cheese facility in Spain and prepared for potential fallout from the Brexit deal....

Dean Foods is looking into several options to position the brand for the long term, despite poor 2018 numbers.

Bernstein drops Dean Foods after poor 2018 performance

By Beth Newhart

After a disappointing 2018 for Dean Foods, it revealed last month that it was considering a sale. Investment management firm Bernstein has announced that it is “discontinuing coverage of Dean Foods (DF) due to the stock's diminished market cap and...

Dean Foods plans to invest in its core capabilities, technology, infrastructure, people and systems.

Sharp loss in profit forces Dean Foods to consider sale

By Beth Newhart

A disappointing fourth quarter for Dean Foods rounded out an under-performing 2018, causing the dairy giant to explore alternatives in its ‘business transformation.’ It is considering a joint venture, business combination or even a sale.

Glanbia has acquired Watson, a US non-dairy ingredient solutions business.

Glanbia finalizes acquisitions, wraps up 2018

By Beth Newhart

Glanbia plc released its 2018 financials this week, revealing growing profits on the back of a few high-profile acquisitions. The nutritional ingredients and dairy business is dipping into the non-dairy sector and reorganizing its board of directors in...

Arla Foods CEO Peder Tuborgh, Chairman Jan Toft Nørgaard and CFO Natalie Knight answer questions at the 2018 annual results press conference.

Arla pays out all 2018 profits to farmers

By Beth Newhart

In its 2018 wrap-up report, Arla Foods announced that it would pay out its full net profit for 2018 of €290m ($329m) to farmers. It also discussed the progress of in-house cost-savings program Calcium and pending sustainability efforts.

General Mills expects the plant closure to cost roughly $130m.

General Mills to shutter yogurt plant in California

By Beth Newhart

General Mills is focusing on ‘restructuring actions’ in its yogurt business and closing a facility in Carson, Calif. The company also reaffirmed its end-of-year financial targets at an investor conference in New York.

Cargill reports a 20% earnings loss in Q2

By Beth Newhart

Cargill took a hit in its second quarter with a 20% drop in net earnings compared to the year-ago period. It cited a ‘world of uncertainty’ affected by the struggling US dairy industry and lingering trade wars throughout 2018.

Dean Foods reveals disappointing Q3 with seven plant closures

By Beth Newhart

Dean Foods posted a loss of 28 cents per share, or $26.4m in its third quarter. It also closed and consolidated seven manufacturing facilities within six weeks, racking up ‘significant transitory costs’ that are expected to continue.