Report
John Brick, CFA
EUR 101.80 For Business Accounts Only

George Weston’s returns on invested capital may falter in the face of intense competitive pressure.

There was little new information for investors to take in from no-moat George Weston’s second-quarter earnings results. The company’s Loblaw division, 95% of George Weston total sales and EBITDA, had already reported its results, which tracked in line with our model. Meanwhile, although the company’s Weston Food segment is seeing a delayed ramp of its frozen food business, at 5% of total sales and EBITDA it is too small to have a meaningful impact on consolidated financials. We do not expect a s...
Underlying
George Weston Limited

George Weston is a holding company. Co. has two reportable operating segments: Weston Foods and Loblaw. The Weston Foods operating segment is engaged in fresh and frozen baking company in Canada and frozen baking and biscuit manufacturing in the United States. The Loblaw operating segment is engaged in distributing and providing drugstore, general merchandise and financial products and services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
John Brick, CFA

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