Lassonde Industries Inc. announces its Q2-2026 results

ROUGEMONT, Quebec, Aug. 06, 2026 (GLOBE NEWSWIRE) — Lassonde Industries Inc. (TSX: LAS.A) (“Lassonde” or the “Corporation”) today announced its financial results for the second quarter of 2026.

Financial Highlights:

Note: These are financial highlights only. Management’s Discussion and Analysis, the unaudited interim condensed consolidated financial statements and notes thereto for the quarter ended June 27, 2026 are available on SEDAR+ at www.sedarplus.ca and on the website of Lassonde Industries Inc.

“Lassonde delivered strong gross profit growth in the second quarter of 2026, driven by effective revenue management, an improved product mix, moderating input-cost pressures, and solid execution of our business strategy,” said Vince Timpano, Chief Executive Officer of Lassonde Industries Inc. “Despite pressure on industry volumes resulting from the current macroeconomic environment, softer consumer demand, and a very strong prior-year comparison, the breadth of our portfolio and the strength of our brands continued to support solid performance across categories, underscoring the resilience of our business.”

“As we look ahead, our focus remains clear: strengthen the competitive position of our brands, accelerate our innovation agenda, ensure the successful readiness of our New Jersey facility, and invest in the capabilities that will power our future growth. Although we anticipate some near-term pressure from rising freight and other costs associated with geopolitical developments, our confidence in the future remains strong. Backed by a strong balance sheet, category-leading brands, and deep customer relationships-built in part on our proven ability to help them grow and strengthen their own brands-we are well positioned to manage short-term volatility while continuing to create long-term value,” added Mr. Timpano.

Second Quarter Highlights:

• Sales of $737.7 million. Excluding a $0.7 million unfavourable foreign exchange impact, sales were down $4.0 million (0.5%) from the same quarter last year. This decrease was mainly due to lower sales volumes for both private label and branded products, partly offset by the favourable impact of selling price adjustments and by a favourable change in the private label sales mix.
• Gross profit of $227.6 million (30.8% of sales). Excluding a $2.5 million favourable foreign exchange impact, gross profit was up $29.3 million from the same quarter last year. This net increase results mainly from the following items:
  • Decrease in the cost of orange concentrates, partly offset by a higher PET resin cost;
  • Favourable impact of selling price adjustments; and
  • Favourable impact of a change in the sales mix.

  These items were partly offset by lower sales volumes.

• Operating profit of $40.0 million. Excluding a $2.1 million favourable foreign exchange impact, operating profit was down $16.6 million from the same quarter last year. This net decrease results mainly from the following items:
  • Impairment charges of $30.2 million, including $27.4 million on a customer relationship intangible asset related to the U.S. specialty food operations, due to contractual changes;
  • $5.8 million increase in transportation costs incurred to deliver products to clients, resulting from a higher cost charged by carriers mainly due to recent fuel surcharges;
  • $4.8 million increase in performance-related compensation expenses; and
  • $4.5 million increase in certain administrative expenses.

  These items were partly offset by a higher gross profit.

• Excluding items impacting comparability, adjusted EBITDA1 was $100.7 million (13.7% of sales), up $16.3 million (or 19.3%) from the same quarter last year.
• Profit attributable to the Corporation’s shareholders of $26.9 million (EPS of $3.95), down $7.4 million (or 21.6%) from the same quarter in 2025. Excluding items impacting comparability, adjusted EPS1 was $7.45, up 36.2% from the same quarter last year.
• As at June 27, 2026, the Corporation had total assets of $2,310.7 million versus $2,252.9 million as at December 31, 2025, a 2.6% increase arising mainly from a higher foreign exchange conversion rate as at June 27, 2026, an increase in property, plant and equipment and higher accounts receivable, partly offset by a decrease in intangible assets.
• As at June 27, 2026, long-term debt, including the current portion, stood at $407.7 million. This represents a $36.8 million decrease from December 31, 2025, essentially attributable to cash flows generated by operating activities exceeding capital expenditures.
• Operating activities generated $77.8 million in cash compared to $3.1 million used in the same quarter last year. This increase in cash inflows was mainly due to a change in non-cash operating working capital items, which generated $68.5 million more cash than in the same quarter of 2025.
• Dividend of $1.25 per share, paid on June 15, 2026.

Outlook

Lassonde expects that its fiscal 2026 performance will continue to be influenced primarily by the financial health of consumers and the prevailing inflationary environment. These factors are now being assessed against a backdrop of heightened global uncertainty, including the ongoing conflict in the Middle East and its potential for broader geopolitical, energy, and supply‑chain disruptions, as well as persistent uncertainty surrounding trade policy. In particular, the current joint review of the United States-Mexico-Canada Agreement (“USMCA”), together with the ongoing use or threat of tariffs, duties, and other trade restrictions and countermeasures (collectively referred to as “Tariffs”), creates uncertainty regarding cost structures, sourcing, and cross‑border flows.

In light of this uncertainty and the rapidly evolving nature of these developments, this outlook may not reflect all impacts arising from the current conflicts, Tariffs, or other trade measures as of the date of this press release. Management’s perspectives on these matters and their potential implications for Lassonde are discussed in Section 19 – “Uncertainties and Principal Risk Factors” of the Corporation’s MD&A for the year ended December 31, 2025. Accordingly, the Corporation has prepared its fiscal 2026 outlook based on the following assumptions:

Sales

• Barring any significant external shocks and excluding foreign exchange impacts, the Corporation anticipates 2026 sales will be slightly below fiscal 2025 levels.
• This outlook reflects a balanced contribution from revenue management and volume effects across its product portfolio and distribution channels and is informed by ongoing monitoring of consumer demand trends and demand elasticity in a volatile geopolitical environment.
• While evolving consumer behaviour and potential inflationary pressures on key inputs may influence purchasing patterns and cost dynamics, management will continue to prioritize disciplined pricing, portfolio optimization, and operational execution, with profitable growth and value creation taking precedence over absolute sales growth objectives.

Key commodity and input costs

• Based on currently observed spot prices, the Corporation anticipates some abatement in the cost of orange and apple concentrates in 2026. However, this benefit is expected to be partly offset by inflationary pressures affecting a broad range of other commodities and packaging inputs, including pineapple concentrates and PET resin.
• While management continues to pursue mitigation actions through sourcing, pricing, and operational initiatives, the Corporation anticipates an increase in transportation costs compared to fiscal 2025 since they remain subject to market and geopolitical conditions and may further affect the delivered costs of raw materials and packaging, as well as those of finished goods.

Effective tax rate

• Based on prevailing tax legislations and their interpretation, the anticipated effective tax rate for fiscal 2026 is estimated to be approximately 23.5%.

Working capital

• The Corporation’s Days Operating Working Capital1 is now closer to its historical levels and only incremental improvements, if any, are expected for this ratio over the course of 2026. However, this outlook might be impacted by (i) opportunistic decisions to secure inventory cost ahead of potential additional price increases from suppliers, (ii) the objective of ensuring an adequate service level, or (iii) decisions to counter new potential supply chain disruptions.

Capital expenditures

• The Corporation’s overall capital expenditures program for 2026 is estimated to reach up to 7.0% of its sales, including an amount of approximately US$96 million for its new plant in New Jersey, as it continues to deploy capital in support of its multi-year strategy. This estimate depends on the rate of progress of certain large capital projects and on the evolution of the macroeconomic environment.
• The new capital assets will be financed, to the extent possible, using the Corporation’s operating cash flows, although the Corporation may also turn to borrowing if interest rates and conditions prove advantageous.

For additional information on the key assumptions, risks and uncertainties applicable to the forward-looking statements contained in the outlook, refer to Section 2 – “Forward-Looking Statements” of the Corporation’s MD&A for the second quarter of 2026.

Dividend

In accordance with the Corporation’s dividend policy, the Board of Directors declared today a quarterly dividend of $1.25 per share, payable on September 15, 2026 to all registered holders of Class A and Class B shares on August 18, 2026. This dividend is an eligible dividend for Canadian tax purposes.

A live audio broadcast of the conference call will be available on the Corporation’s website, on the Investors page or here: https://www.gowebcasting.com/14732. The replay of the webcast will remain available at the same link until midnight, August 14, 2026.

Financial Measures Not in Accordance With IFRS

The financial measures or ratios, further described below, do not constitute standardized financial measures or ratios in accordance with the financial reporting framework used to prepare the Corporation’s financial statements. These non-IFRS measures should not be considered in isolation or as a substitute for financial measures prepared in accordance with IFRS. Comparing them to similar financial measures or ratios presented by other issuers may not be possible.

Items impacting the comparability between periods

The following table contains a list, description, and quantification of items impacting the comparability of the financial performance between periods:

EBITDA is a financial measure used by the Corporation and investors to assess the Corporation’s capacity to generate future cash flows from operating activities and pay financial expenses. Adjusted EBITDA is a financial measure used by the Corporation to compare EBITDA between periods by excluding items impacting comparability. EBITDA consists of the sum of operating profit and of the “depreciation of right-of-use assets and property, plant and equipment and amortization of intangible assets” item and the “(Gains) losses on leases and capital assets” item, as shown in the Consolidated Statement of Cash Flows. Adjusted EBITDA is calculated by adjusting the EBITDA with items considered by management as impacting the comparability between periods. The most directly comparable IFRS measure is operating profit.

Adjusted profit attributable to the Corporation’s shareholders is a financial measure and adjusted EPS (composed notably of Adjusted profit attributable to the Corporation’s shareholders) is a financial ratio that are used by the Corporation to compare profit attributable to the Corporation’s shareholders and EPS between periods by excluding items impacting comparability. They are calculated by adjusting them with items considered by management as impacting the comparability between periods. The most directly comparable IFRS measures are the profit attributable to the Corporation’s shareholders and EPS.

Net debt is a financial measure and Net debt to adjusted EBITDA is a financial ratio that are used by the Corporation to assess its ability to pay off existing debt and define available borrowing capacity. To calculate the net debt to adjusted EBITDA ratio, net debt is divided by the sum of adjusted EBITDA from the last four quarters. Net debt represents the sum of lease liabilities, including the current portion, and of long-term debt, including the current portion, less the “Cash and cash equivalents” item, as they are presented in the Corporation’s Consolidated Statement of Financial Position. The most directly comparable IFRS measures are long-term debt, including the current portion, and operating profit.