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  5. MFI: Hi Peter Can you please comment on the quarterly earnings? [Maple Leaf Foods Inc.]
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Q: Hi Peter
Can you please comment on the quarterly earnings? Though there is an earnings beat. the plant based protein unit incurred a significant loss from previous quarter. Is that a concern from their strategic direction?

Asked by Greyhair on May 06, 2021
5i Research Answer:

EPS of 26 cents beat estimates by 1 cent. Sales of $1.05B matched, as did EBITDA of $98.3M. MFI raised prices and increased pork sales. Plant protein sales dropped 8%, in what is supposed to be a high growth area. It expects better sales in 2021, but this trend has to be watched, considering the unit's expenses. At 23X earnings, we would continue to give it a 'meh' rating.