Lassonde Industries Inc. announces its Q4 and fiscal 2025 results

ROUGEMONT, Quebec, March 26, 2026 (GLOBE NEWSWIRE) — Lassonde Industries Inc. (TSX:LAS) (“Lassonde” or the “Corporation”) today announced its financial results for its fourth quarter and year ended December 31, 2025.

Financial Highlights:

^{Note: These are financial highlights only. Management’s Discussion and Analysis, the audited consolidated financial statements and notes thereto for the year ended December 31, 2025 are available on the SEDAR+ website at www.sedarplus.ca and on the website of Lassonde Industries Inc.}

“Lassonde concluded 2025 with strong financial performance, despite a challenging and rapidly evolving macro-economic environment,” said Vince Timpano, Chief Executive Officer of Lassonde Industries Inc. “This robust performance, supported by a deep and diversified product portfolio, reflects our team’s continued focus on executing our strategy and meeting evolving consumer needs. We sustained our momentum throughout the fourth quarter, driven by solid execution on pricing in Canada and higher volume in our U.S. business.”

“Looking ahead to 2026, our priority remains executing our strategy, which includes the construction of our New Jersey facility.  I am pleased with our progress, and the project remains on budget, and on schedule for completion in early 2027.  Additionally, we remain focused on capturing growth while remaining ever-mindful of a continued challenging macro-environment and its potential implications on supply and consumer spending. In this context, we will continue to leverage our diversified portfolio, balanced with pricing, promotion and other volume initiatives that support profitable and sustainable growth, as we progress in achieving our stated goal of $3 billion in sales,” added Mr. Timpano.
  
Fourth Quarter Highlights:

• Sales of $768.1 million, up $30.0 million (4.1%) from the same quarter last year. This increase is primarily due to the favourable impact of selling price adjustments in Canada and to an increase in the U.S. sales volume.
• Gross profit of $225.0 million (29.3% of sales), up $32.1 million from the same quarter last year. This net increase results mainly from the following items:
  • a favourable impact of selling price adjustments;
  • a favourable impact of a change in the sales mix;
  • $2.2 million in start-up costs in 2024 related to key growth and optimization projects; and
  • $1.2 million in expenses in 2024 related to a production interruption at the Corporation’s North Carolina plant, resulting from Hurricane Helene;

    partly offset by:

• • an increase in conversion costs, essentially in the U.S.; and
  • $1.4 million in expenses related to business optimization initiatives.
• Operating profit of $71.1 million, up $28.2 million from the same quarter last year. This net increase results mainly from the following items:
  • higher gross profit;
  • $5.1 million decrease in transportation costs incurred to deliver products to clients, resulting from a lower cost charged by carriers;
  • $2.7 million in expenses in 2024 related to the multi-year strategy (“Strategy”); and
  • $1.8 million in costs in 2024 related to the Summer Garden acquisition;

    partly offset by:

• • a $10.2 million increase in certain administrative expenses, driven by higher compensation costs, professional fees and the timing of certain expenses;
  • a $2.3 million increase in performance-related compensation expenses; and
  • a $1.6 million increase in finished goods warehousing costs, essentially in Canada.

• Excluding items impacting comparability, adjusted EBITDA¹ was $101.8 million (13.3% of sales), up $22.2 million (or 27.9%) from the same quarter last year.
• Profit attributable to the Corporation’s shareholders of $54.0 million, resulting in EPS of $7.92, up $26.9 million (or 99.2%) from the same quarter in 2024. Excluding items impacting comparability, adjusted EPS¹ was $7.52, up 46.6% from the same quarter last year.
• Operating activities generated $121.5 million in cash compared to $75.7 million generated in the same quarter last year. This increase in cash inflows was essentially due to a change in non-cash operating working capital items, which generated $29.9 million more cash than in the same quarter of 2024 and to a higher operating profit, partly offset by a $9.8 million net withdrawal in 2024 of certain excess amounts invested in its defined benefit pension plans.
• Dividend of $1.10 per share, paid on December 15, 2025.

Fiscal 2025 Highlights:

• Sales of $2,934.0 million. Excluding a $28.8 million favourable foreign exchange impact and sales from Summer Garden², the Corporation’s sales were up $181.2 million (7.2%) from last year, essentially due to the favourable impact of selling price adjustments, mainly in Canada, to an increase in the sales volume and to a favourable change in the mix of Canadian private label sales.
• Gross profit of $801.5 million (27.3% of sales). Excluding a $5.5 million unfavourable foreign exchange impact and gross profit from Summer Garden, gross profit was up $58.2 million from last year. This net increase results mainly from the following items:
  • a favourable impact of selling price adjustments;
  • a favourable impact of a change in the sales mix;
  • a favourable impact of an increase in sales volume;
  • $2.2 million in start-up costs in 2024 related to key growth and optimization projects; and
  • $1.2 million in expenses in 2024 related to a production interruption at the Corporation’s North Carolina plant, resulting from Hurricane Helene;

    partly offset by:

  • higher cost for certain inputs, affecting particularly orange juice as well as orange, pineapple and apple concentrates;
  • an increase in conversion costs, essentially in the U.S.; and
  • $10.9 million in expenses related to business optimization initiatives, including an additional $8.0 million in accelerated depreciation of the New Jersey plant.

• Operating profit of $226.1 million. Excluding the contribution from Summer Garden, operating profit was up $41.5 million from last year. This net increase results mainly from the following items:
  • higher gross profit;
  • $10.1 million in costs in 2024 related to the Summer Garden acquisition; and
  • $4.1 million decrease in expenses related to the Strategy and the implementation of new key systems;

    partly offset by:

  • $17.5 million increase in certain administrative expenses, driven by higher compensation costs, professional fees and the timing of certain expenses;
  • $5.8 million increase in finished goods warehousing costs, essentially in Canada; and
  • $4.3 million unfavourable foreign exchange impact that affected the conversion of the selling and administrative expenses of the U.S. entities into Canadian dollars.

• Excluding items impacting comparability but including Summer Garden, adjusted EBITDA¹ was $344.1 million (11.7% of sales), up $68.2 million (or 24.7%) from last year.
• Profit attributable to the Corporation’s shareholders of $149.7 million, resulting in EPS of $21.94, up 31.1% from 2024. Excluding the contribution from Summer Garden and the impact of additional financial expenses, net of taxes, related to its acquisition, profit attributable to the Corporation’s shareholders was up $34.1 million (or 30.5%) year over year. Excluding items impacting comparability, adjusted EPS¹ was $22.82, up 19.8% from last year.
• As at December 31, 2025, the Corporation had total assets of $2,252.9 million versus $2,277.8 million as at December 31, 2024, a 1.1% decrease arising mainly from a lower foreign exchange conversion rate as at December 31, 2025 and a decrease in intangible assets, partly offset by an increase in property, plant and equipment. 
• As at December 31, 2025, long-term debt, including the current portion, stood at $444.6 million. This represents a $27.3 million increase from December 31, 2024, essentially attributable to capital expenditures and working capital requirements.
• Operating activities generated $176.2 million in cash compared to $233.9 million generated last year. Excluding cash flows from Summer Garden, operating activities generated $70.6 million less than in 2024 on a comparable basis. This decrease in cash inflows was mainly due to a change in non-cash operating working capital items, which used $72.2 million more cash than in 2024, to a $27.9 million increase in net income tax paid and a $9.8 million net withdrawal in 2024 of certain excess amounts invested in its defined benefit pension plans, partly offset by a higher operating profit.
• Total dividend of $4.40 per share, paid in 2025.

Outlook

Lassonde expects that its performance in fiscal 2026 will continue to be influenced primarily by the financial health of consumers and the prevailing inflationary environment. These factors are now being assessed within 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 approaching joint review of the United States–Mexico–Canada Agreement (“USMCA”) in 2026, 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 has been prepared without reflecting any additional impacts arising from the current conflicts, Tariffs, or other trade measures as of the date of this MD&A. Management’s perspectives on these matters and their potential implications for Lassonde are discussed in a separate …

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