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Lassonde
(TSX:LAS.A)
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Rating:73Outperform
Price Target:
C$264.00
â–²(8.70% Upside)
Action:Reiterated
Date:08/17/26
The score is supported primarily by improving profitability and a solid balance-sheet trend, alongside strong technical momentum and an attractive valuation (low P/E with a moderate dividend). The main constraints are weaker recent revenue momentum, historically uneven cash-flow conversion, and earnings-call guidance pointing to slightly lower 2026 sales plus margin sustainability risks.
Positive Factors
Profitability and margin expansion
Higher gross profit and EBITDA margins indicate stronger earnings quality from pricing, mix and lower concentrate costs. This improves resilience and operating leverage, although sustaining the gains will require disciplined pricing and cost management.
Negative Factors
Weak revenue outlook
A flat-to-lower sales outlook limits the company’s ability to grow through volume and raises dependence on pricing, mix and productivity. Persistent weak demand could eventually pressure margins if fixed manufacturing and distribution costs are underabsorbed.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and margin expansion
Higher gross profit and EBITDA margins indicate stronger earnings quality from pricing, mix and lower concentrate costs. This improves resilience and operating leverage, although sustaining the gains will require disciplined pricing and cost management.
Read all positive factors
Lassonde (LAS.A) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.61B
Dividend Yield2.06%
Average Volume (3M)2.20K
Price to Earnings (P/E)10.4
Beta (1Y)0.57
Revenue Growth1.59%
EPS Growth33.65%
CountryCA
Employees2,900
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)22.65
Shares Outstanding3,069,000
10 Day Avg. Volume2,021
30 Day Avg. Volume2,198
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)1.31
Price to Sales (P/S)0.51
P/FCF Ratio-351.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$300.00Price Target Upside23.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)23.94
Revenue Forecast (FY)C$2.99B
Lassonde Business Overview & Revenue Model
Company Description
Lassonde Industries Inc., along with its subsidiaries, specializes in the development, manufacturing, and distribution of various ready-to-drink fruit juices, beverages, and frozen juice concentrates across Canada, the United States, and internati...
How the Company Makes Money
Lassonde makes money primarily by selling beverages and food products to retail, foodservice, and other commercial customers across North America. Its revenue model is centered on (1) branded product sales, where Lassonde sells products under bran...
Lassonde Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 06, 2026
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.Positive Updates
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.
Negative Updates
Slight Sales Decline and Lower Full-Year Sales Outlook
Q2 sales totaled $738M vs $742M last year; excluding FX sales decreased ~0.5%; company now expects 2026 sales to be slightly below 2025 levels (excluding FX and major external disruptions).
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
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%.Lassonde Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
67
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.89B | 2.93B | 2.60B | 2.31B | 2.15B | 1.89B |
| Gross Profit | 838.48M | 744.95M | 698.09M | 587.72M | 523.35M | 521.94M |
| EBITDA | 361.55M | 337.98M | 258.06M | 200.24M | 141.14M | 174.49M |
| Net Income | 154.52M | 149.70M | 114.12M | 87.53M | 53.94M | 77.51M |
Balance Sheet | ||||||
| Total Assets | 2.31B | 2.25B | 2.28B | 1.67B | 1.60B | 1.42B |
| Cash, Cash Equivalents and Short-Term Investments | 6.98M | 7.96M | 28.23M | 19.84M | 2.68M | 305.00K |
| Total Debt | 458.45M | 498.05M | 478.74M | 214.55M | 253.78M | 180.46M |
| Total Liabilities | 996.04M | 1.02B | 1.11B | 669.80M | 667.15M | 554.09M |
| Stockholders Equity | 1.22B | 1.14B | 1.07B | 922.57M | 877.17M | 808.41M |
Cash Flow | ||||||
| Free Cash Flow | 228.88M | -4.26M | 118.02M | 118.47M | -23.38M | 56.09M |
| Operating Cash Flow | 388.24M | 176.20M | 233.88M | 224.86M | 24.00M | 93.73M |
| Investing Cash Flow | -174.45M | -203.86M | -440.84M | -115.39M | -48.05M | -40.40M |
| Financing Cash Flow | -239.71M | 8.97M | 217.31M | -91.67M | 27.65M | -64.88M |
Lassonde Technical Analysis
Positive
242.88
Price Trends
224.35
Positive
221.63
Positive
221.88
Positive
Market Momentum
2.31
Positive
52.90
Neutral
13.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:LAS.A, the sentiment is Positive. The current price of 242.88 is above the 20-day moving average (MA) of 237.80, above the 50-day MA of 224.35, and above the 200-day MA of 221.88, indicating a neutral trend. The MACD of 2.31 indicates Positive momentum. The RSI at 52.90 is Neutral, neither overbought nor oversold. The STOCH value of 13.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:LAS.A.
Lassonde Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | C$1.61B | 10.41 | 13.30% | 2.06% | 1.59% | 33.65% | |
68 Neutral | C$446.34M | 13.30 | 17.72% | 5.99% | 10.09% | 21.92% | |
63 Neutral | C$885.67M | 13.67 | 14.14% | 5.22% | -5.74% | -3.64% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | C$3.31B | 6.34 | 36.83% | 5.46% | -21.88% | 189.83% | |
55 Neutral | C$4.11B | 47.83 | 4.19% | 4.32% | 20.43% | -21.27% |
* Consumer Defensive Sector Average
TSE:LAS.A
Lassonde
235.80
29.18
14.12%
TSE:CSW.A
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15.69
1.80
12.97%
TSE:MFI
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26.55
-3.15
-10.60%
TSE:PBH
Premium Brands
78.75
-12.57
-13.76%
TSE:RSI
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6.89
0.88
14.57%
Lassonde Corporate Events
Business Operations and StrategyStock Buyback
Lassonde Launches Share Buyback of Up to 7.62% of Public Float
Positive
Aug 13, 2026
Lassonde Industries Inc. has received TSX approval to launch a normal course issuer bid allowing it to repurchase for cancellation up to 200,000 Class A Subordinate Voting Shares, or about 7.62% of its public float, between August 19, 2026 and Aug...
Business Operations and StrategyStock Buyback
Lassonde Wins TSX Approval for Share Buyback Program
Positive
Aug 13, 2026
Lassonde Industries Inc., a North American leader in food and beverage manufacturing, produces over 3,500 shelf-stable, chilled, and frozen products ranging from juices and sauces to ciders and wines, selling through major food retailers, wholesal...
Business Operations and StrategyStock Buyback
Lassonde Plans Share Buyback Covering 6.5% of Subordinate Voting Stock
Positive
Aug 7, 2026
Lassonde Industries Inc., based in Canada and active across North America, is a major food and beverage manufacturer focused on fruit juices, specialty foods, fruit snacks, cranberry sauces and selected alcoholic beverages. Its broad portfolio of ...
Business Operations and StrategyFinancial Disclosures
Lassonde Boosts Q2 Margins Despite Volume Decline and Impairment Hit
Positive
Aug 6, 2026
Lassonde reported second-quarter 2026 sales of $737.7 million, down slightly year over year as softer industry volumes weighed on both branded and private label products. However, gross profit rose sharply to $227.6 million on improved product mix...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.