Saputo’s cost structure has helped it generate economic profits despite commodified fare.
Saputo outpaced our expectations for top-line growth in fiscal 2018, with revenue up 3.4% (about 1 point ahead of our outlook for the year), driven by the international segment (12% of revenue), which posted nearly 22% sales growth. However, its profitability faltered, with adjusted EBITDA margin contracting 60 basis points to 11% (90 basis points below our estimate). This was primarily due to the United States segment (53% of revenue), where adjusted EBITDA margin fell 160 basis points to 10.6%...Saputo produces, markets, and distributes an array of dairy products including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. Co.'s products are sold in several countries under brand names such as Saputo, Alexis de Portneuf, Armstrong, COON, Cracker Barrel*, Dairyland, DairyStar, Friendship Dairies, Frigo Cheese Heads, La Paulina, Milk2Go/Lait's Go, Neilson, Nutrilait, Scotsburn*, Stella, Sungold, Treasure Cave and Woolwich Dairy. Co. operates its business through three sectors, the Canada Sector, the USA Sector and the International Sector.
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.
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