Q: Could you comment on results?
5i Research Answer:
EPS of 13c beat estimates of 10c; revenue of $309M missed estimates of $315.2M. EBITDA of $34.4M beat estimates by 15%. BMO lowered its price target to $6.50 from $7.00. EPS rose nicely from 8c last year. Sugar volumes did decline, but 12-month free cash flow rose from $47M to $74.5M. Sugar margins improved, partially offset by higher sales and admin. costs. We would consider the quarter decent enough.