SunOpta Inc. (NASDAQ:STKL) Q1 2019 Earnings Conference Call Transcript

May 08, 2019 • 09:00 am ET


SunOpta Inc. (NASDAQ:STKL) Q1 2019 Earnings Conference Call Transcript


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Good morning, and welcome to SunOpta's First Quarter Fiscal 2019 Earnings Conference Call. By now, everyone should have access to their earnings press release that was issued this morning, and is available on the Investor Relations page on SunOpta's website at This call is being webcast, and its transcription will also be available on the company's website.

As a reminder, please note that the prepared remarks, which will follow contain forward-looking statements and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance, and therefore, undue reliance should not be placed upon them. We refer you to all risk factors contained in SunOpta's press release issued this morning.

The company's Annual Report, filed on Form 10-K and other filings with the Securities and Exchange Commission for more detailed discussion of the factors that could cause actual results to differ materially from those projections, and any other forward-looking statements. The company undertakes no obligation to publicly correct or update the forward-looking statements made during the presentation to reflect future events or circumstances, except as may be required under applicable security laws.

Finally, we would like to remind listeners that the company may refer to certain non-GAAP financial measures during the teleconference. A reconciliation of these non-GAAP financial measures was included with the company's press release during this morning. Also please note that unless otherwise stated, all figures discussed today in the US dollars are occasionally rounded to the nearest million.

And now, I would like to turn the conference over to SunOpta's CEO, Joe Ennen.

Joseph D. Ennen

Good morning. Thank you for joining us today. With me on the call is Rob McKeracher, our Chief Financial Officer. First, let me say how excited I am to be joining SunOpta as the new CEO. While it's been only a little over a month since I started, I've been very impressed with the people I've met, the operations I've seen, and the feedback I've received from customers.

When I was approached with the opportunity to lead SunOpta, I was immediately drawn to the company's strong position as a leader in the health and wellness food space. With the focus on sourcing organic and non-GMO ingredients, producing innovative plant-based beverages in our aseptic facilities, and enabling healthy eating through our fruit platform, I saw a company that aligns well with my passion for health and wellness. With 30 years of experience in the food industry on both the branded and private label side, my unique experience as the former leader of Safeway's Own Brands organization, I'm excited to work with our customers and our team to bring an accelerated pace of innovation, and to deliver improved results more consistently to shareholders.

My decision to join SunOpta was really a no-brainer, given how well we are aligned with major macro trends in the CPG industry. I'd like to spend a few minutes unpacking those reasons for you, so you can understand what I see in the company, and why