Saputo revenue and earnings rise in latest quarter

Saputo Inc. (symbol SAP on Toronto) is Canada’s largest producer of dairy products, including milk, butter and cheese. The company also makes snack cakes and tarts. Aside from Saputo, the Canadian stock pick’s main brands include Neilson, Stella and Dairyland. The company also has operations in the U.S., Argentina and Europe. Saputo is one of the stock picks we analyze in our Successful Investor newsletter. In its third quarter, which ended December 31, 2010, Saputo earned $111.8 million, or $0.55 a share. That fell short of the consensus earnings forecast of $0.57 a share. Even so, the latest earnings are up 7.2%, from $104.3 million, or $0.50 a share, a year earlier. The company reported revenue of $1.54 billion in the latest quarter, up 3.0% from $1.48 billion. Higher U.S. sales, and an increase in U.S. cheese prices, helped the company’s revenue and earnings. As well, Saputo’s selling price for milk rose in Argentina. Gains were held back, however, by the strength of the Canadian dollar against the U.S. dollar and the Argentinian peso. You can get our latest analysis, including our clear buy/sell/hold advice, on Saputo and dozens of other stock picks you may be considering buying in The Successful Investor. What’s more, you can get one month free when you subscribe today. Click here to learn how.

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Jim Bates

Jim is an associate editor at TSI Network. He is the lead reporter and analyst for The Successful Investor and Wall Street Stock Forecaster and a member of the Investment Planning Committee. Jim has held the Chartered Financial Analyst designation since 1992 and spent more than a decade at the Financial Post DataGroup before joining TSI Network. He has a Bachelor of Commerce degree from the University of Toronto.

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