EarningsQ2 2026 Earnings Report

Lassonde (LSDAF) Q2 2026 Earnings Report

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Previous Report: Q1 2026

LSDAF Q2 2026 EPS Results

Actual EPS$5.22

Consensus EPS$4.28

Beat/MissBeat by +$0.94

One Year Ago EPS$3.84

LSDAF Q2 2026 Revenue Results

Actual Revenue$517.24M

Expected Revenue$523.23M

Beat/MissMissed by -$5.99M

YoY Revenue Growth-0.64%

Earnings Announcement Details

QuarterQ2 2026

Date08/06/2026

TimeAfter Close

Conference CallThursday, August 6, 2026

LSDAF Upcoming Earnings

Lassonde's next earnings date is estimated for November 6, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

LSDAF Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Aug 06, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call highlighted robust profitability, margin expansion, strong operating cash flow and improved leverage, alongside strategic investments and brand/distribution momentum. These positives were balanced by a slight sales decline, a $30M impairment tied to a customer contract change, ongoing category volume softness, and cost/market volatility. Management expects 2026 sales to be slightly below last year but prioritized profitable sales and has taken actions (backfill agreements, NCIB, disciplined revenue management) to mitigate near-term challenges.

Company Guidance

Guidance: Lassonde now expects 2026 sales to be slightly below 2025 (excluding foreign exchange and major external disruptions) while prioritizing profitable sales over volume; CapEx is projected to reach up to 7% of sales in fiscal 2026 (Q2 CapEx was $38M), including approximately USD 96M for the New Jersey project (equipment installation underway, transfer of production beginning late 2026 and completing in H1 2027); Q2 net debt was $451M (down from $474M) with net debt/adjusted EBITDA at 1.22x (down from 1.35x) and management expects leverage to remain well below its 3.25x internal maximum; operating cash flow generated $78M in Q2 (vs. -$3M a year ago), days of operating working capital were 46 (vs. 51) and are expected to remain within the historical range, and the company launched an NCIB to buy up to 200,000 common shares (~6.5% of Class A shares) over 12 months (subject to TSX approval); management reiterated cost assumptions that orange and apple concentrate costs should be lower year-over-year, but flagged inflationary pressure on transportation and PET resin, noted most hedges roll off toward year-end, disclosed a $30M impairment (including $27M on a customer relationship) and said Specialty Food has already secured replacement volume representing more than 50% of the expected 2027 shortfall with advanced talks for an additional ~25%.

Strong Gross Profit and Margin Expansion

Gross profit of $228M vs $196M a year ago (up $32M); excluding FX gross profit rose $29M or ~15%; management cited a 16% gross profit growth in Q2 and a ~440 bps year-over-year margin expansion driven by lower orange concentrate costs, selling price adjustments and favorable mix.

Adjusted EBITDA and Adjusted Profit Growth

Adjusted EBITDA increased 19% to $101M (13.7% of sales) from $84M (11.4% of sales) a year ago; adjusted profit attributable to shareholders rose 36% to $51M or $7.45 per share.

Strong Operating Cash Flow and Improved Leverage

Operating activities generated $78M in Q2 versus needing $3M last year; net debt fell to $451M from $474M and net debt/adjusted EBITDA improved to 1.22x from 1.35x; company reduced borrowings by $32M in the quarter.

Disciplined Capital Allocation and NCIB Announcement

Announced intent to launch a normal course issuer bid to repurchase up to 200,000 Class A shares (~6.5% of issued Class A shares) citing low leverage and confidence in long-term prospects; CapEx expected up to 7% of sales in 2026 with major New Jersey project funded.

Resilient Beverage Operations and Brand Momentum

U.S. beverage volumes grew and market share was gained despite category declines; Apple & Eve expanded distribution in the U.S.; Canadian beverage maintained category leadership despite mid-single-digit category declines; New Jersey facility construction on schedule with equipment installation underway.

Specialty Food Execution and Distribution Wins

Summer Garden increased third-party pasta sauce volumes and G. Hughes completed a brand refresh with expanded distribution (mass merchant and national retailer in Canada); management has already secured replacement volumes representing >50% of the expected 2027 shortfall after a customer contract change.

LSDAF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 06, 2026	2026 (Q3)	4.31 / -	4.095	―
Aug 06, 2026	2026 (Q2)	4.28 / 5.22	3.835	36.20% (+1.39)
May 07, 2026	2026 (Q1)	3.55 / 3.76	2.805	34.00% (+0.95)
Mar 26, 2026	2025 (Q4)	4.16 / 5.27	3.597	46.59% (+1.68)
Nov 06, 2025	2025 (Q3)	3.40 / 4.09	3.176	28.92% (+0.92)
Aug 07, 2025	2025 (Q2)	3.52 / 3.84	4.018	-4.54% (-0.18)
May 08, 2025	2025 (Q1)	1.93 / 2.80	2.58	8.70% (+0.22)
Mar 27, 2025	2024 (Q4)	2.78 / 3.60	2.202	63.38% (+1.40)
Nov 07, 2024	2024 (Q3)	2.90 / 3.18	2.573	23.43% (+0.60)
Aug 08, 2024	2024 (Q2)	2.64 / 4.02	2.728	47.30% (+1.29)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed