Maple Leaf Foods Inc T.MFI

BNN comment

[Possibleidiot01]

MAPLE LEAF SWINGS TO A LOSS

Sticking with the food theme, something of a tough quarter from Maple Leaf Foods, which swung to a loss – adjusted earnings per share were negative $0.28 against analyst expectations for a profit of $0.13 per share. Bevy of factors at play here, between higher inflation, supply-chain disruptions, that cyberattack, and troubles finding workers, not to mention the company’s struggles with its plant protein division. That said, the company does expect things to normalize or improve in the year ahead as those factors abate. Credit where credit is due, CEO Michael McCain didn’t shy away from the miss, saying that the results are “not where we like them to be.”

[ol_griz]

No excuse.  Where was the guidance? They knew what the cybersecurity drama was doing to them, to say nothing of the labour shortage.  I expect them to go into the doghouse for this brutal surprise miss.