Perishable Pundit
 
  Home | About | Archives | Sponsorship | Contact Us | Submit / Suggest
  Dairy rss  
   
   Saputo Facing Serious Challenges But Is Fighting Back
by Stephanie Bedard-Chateauneuf, Motley Fool
Posted: Thursday, February 8, 2018 at 3:34PM EST

Saputo Inc. reported its fiscal 2018 third-quarter results on February 1. The stock dropped by more than 3% during that day, as the dairy processor missed analysts’ estimates and is facing many challenges.

Profit boosted by tax savings, but hurt by market conditions

Following changes approved by Trump’s administration just before the holiday break, the U.S. federal corporate tax rate dropped from 35% to 21%. As a result, Saputo recorded tax savings of $179 million, which boosted its net income to $337 million, or $0.86 per share, up 70.7% compared to the third quarter of fiscal 2017. 

To read the rest of the story, please go to: Motley Fool


print article
Print Article
send article
Send Article
Respond
Respond
Permalink
Permalink
Share Article
Share Article


Bakery Dairy Deli Floral  Meat & Poultry Produce Seafood Retail & Foodsvc
 Beemster Cheese    NY Produce Show 2018  Fresh Dairy Packaging  Cheese Connoisseur  

mail to friend

Got News? Send your latest press releases and announcements to DairyPR@PerishableNews.com