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BRIEF-Saputo Q2 Adjusted Earnings Per Share C$0.47

Published 08/11/2019, 05:56 am
Updated 08/11/2019, 06:00 am
BRIEF-Saputo Q2 Adjusted Earnings Per Share C$0.47

Nov 7 (Reuters) - Saputo Inc SAP.TO :

* FINANCIAL RESULTS FOR FISCAL 2020 SECOND QUARTER ENDED SEPTEMBER 30, 2019

* Q2 ADJUSTED EARNINGS PER SHARE C$0.47

* Q2 EARNINGS PER SHARE C$0.44

* Q2 REVENUE C$3.666 BILLION VERSUS REFINITIV IBES ESTIMATE OF C$3.82 BILLION

* Q2 EARNINGS PER SHARE ESTIMATE C$0.43 -- REFINITIV IBES DATA

* IN FISCAL 2020, CONTINUES TO EXPECT ITS BUSINESS OPERATIONS TO DELIVER SLIGHTLY HIGHER ADJUSTED EBITDA WHEN COMPARED TO FISCAL 2019

* SAPUTO - EXPECTS TO CONTINUE FACING HEADWINDS RELATING TO COMPETITIVE MARKET CONDITIONS IN USA, VOLATILE ECONOMIC CONDITIONS IN ARGENTINA IN FY2020

* SAPUTO - IN AUSTRALIA, THE COMPANY IS IMPLEMENTING ALTERNATE MEASURES TO COMPENSATE FOR INCREASED COMPETITION AND LOWER RAW MILK PRODUCTION

* IN FISCAL 2020, CO IS CAUTIOUSLY OPTIMISTIC ABOUT IMPROVED CHEESE MARKET CONDITIONS IN USA

* EXPECTS TO CONTINUE FACING HEADWINDS RELATING TO VOLATILITY IN INTERNATIONAL SELLING PRICES OF CHEESE & DAIRY INGREDIENTS IN FY2020

* USA DAIRY INGREDIENTS MARKET IS EXPECTED TO REMAIN VOLATILE UNTIL FIRST HALF OF CALENDAR 2020

* SAPUTO - EXPECTS PRICES TO REMAIN RELATIVELY STABLE IN INTERNATIONAL CHEESE & DAIRY INGREDIENTS MARKETS UNTIL END OF FIRST HALF OF CALENDAR 2020

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