STKL - Earnings call transcript Q3 2020

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Operator

[00:00:05] Good morning and welcome to SunOpta Third Quarter Fiscal 2014 earnings conference call. By now, everyone should have access to the earnings press release that was issued this morning and is available on the Investor Relations page, on Synopsize website at the views of the CNN dot com. This call is being webcast and this 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. all issued contained this to this some you release press morning. refer of in is of We The company's for annual actual other of filings report factors results. filed on the the and Form Securities Exchange could Commission that more discussion with detailed cause Bank and undertakes be before reflect To company may reporting except under during presentation those to statements events laws. statements, from publicly or as to materially and any made obligation differ looking applicable securities correct future circumstances, forward required projections the no or update the

all we listeners company's Finally, the financial that dollars company now in may morning. today Ennen. financial stated, A would this Also, the figures to discussed reconciliation under Joe non-cash with during included occasionally And press non-cash a.m.. please certain release the measures like over U.S. note to I'd seven like call Good around was these of turn issued remind are unless refer CNN our that earlier to measures teleconference. to today. otherwise

Joseph Ennen

Thank With Scott Financial for Chief on our Hawkins, the call Officer. is [XX:XX:XX] us me joining today. you

the unpacking begin to three there results, I would we Before like key takeaways offer. are that QX

business consistent, execution strategy from core all continues segments. three to performance First, our across deliver of strong

foods prioritized, paying are and in Second plant dividends. investments based is beverages

We are playing offense.

about expect We strong ability already future an IBNR as our we are position. in average sustainable, to our continue quarter. consistent, And we winning strengthening optimistic Further expansion are the and growth. win to to projects fourth above come third, deliver online

month, QX, the month, at our margin both which say over year safe and quarter we growth. momentum than is was that or combined generated strong, quarters no third our four longer with million And consecutive It year more adjusted consecutive the quarter XXXX, revenue story. Trailing is of XX to a than were results anticipated, EPS. in doubling have. even segment the and doubling of trailing plans either XX each consecutive more quarter third adjusted XX end delivering the XX turnaround adjusted As of in adjusted evena million, today of with Sonoita fourth

a positioned, with a to of company We food. clear sustainability well minded quite future the are simply fuel vision growth

execution Our focus with core of along investment strong core and reflects strength. on our strategy, our performance

have pleased each turnaround to with transitioned performance fully We now [XX:XX:XX] successes segments. profitability organization. entire from I'm across and driving positioning growth our our our and business of across our the

last point strong was For based of and and commodity the changes share four consumer some the and global robust shelf weeks the consumer five in very in refrigerated segment. our core segments, third business and pricing quarter, plant businesses. the adjusted led our XX ingredients like and Consumption conventionalized data fueled XX we related by all in demand in growth both growth milks to by percent, momentum growth, shows plant This stable ray. feel percent delivered for based to XX core three revenue syndicated I'd help percent x growing our respectively.

our to the encouraged demand. enthusiasm consumer upside, in discussed, Oat rate. growth also extraction provide by continue us volume. see tailwind continued only largest triple for a see final behind plant strong based growth plant we the gives unit milk This milk to excited milk. very are And is while supply tremendous our our in is milk with business We digit the certainly will have Frozen somewhat commissioning fruit a extraction momentum now fold based this XX as in stages category. second facility as consumer's in almond for are four previously own limited the and constraints of our increase

It in [XX:XX:XX] priority. on fueling capitalize a Senator, growth sustainable is I continue consumer strong in for encouraging demand of around I intend ingredients segment. joined positioned many our products. growth to EntreMed sales as to our are improving fully the Since top our execution strong core food markets categories we have we such and talked organic about we see that so world, well Lastly, global in growth in

is improvement. the than margin XXX margin Total in our gross Nowhere gross fruit XXXX. the evident best QX to profit improvement thirteen in execution three contributing in our since QX gross percent, of business the with points, basis company Total more improved most performance. margin this was margin point profit gross

to record on aseptic our management and Holland Our Canada are paying and automation, focus downtime with in production cocoa bagging doing disciplined fruit more plant setting facility frozen from productivity fewer off our people. are reducing line facility the based beverage it Manufacturing plants initiatives with operations to operation our around in a world. Pennsylvania in

zero While that something also managing all are proud covid-XX. cases is community our confirmed accomplishment plan. records results is transmitted their are are priority. as to own in these safety a challenges right, we it's have impressive time to all we to prevention related these important in covid-XX of This at employee coming are when we Today, top our recognize the very of of continue

of revenue, year other. double of the the are the each on headwinds Nevada, overall it basis. for tailwinds, a to point significant, seven of basis When our Turning challenges two the around year XXX growth. with the we long our [XX:XX:XX] even XX as impact percent. were of to the significant offset on a progress rate. for showed financial five quarter, covid-XX stated percent revenue percent any more point impact on While year mentioned, and we that even percent third margin and solid over against not quarter on performance our managing Even point over an twenty net the term was revenue than million of increase on goal four adjusted two eight as year percentage a Adjusted

as remainder covid-XX results, adjusted within revenue point as saw anticipate, momentum not continues an given sales increased with performance. service plant continued to our which our channel decline food largest begin we would which customer our in the sales overcoming growth QX, segment on impact softer their segment to segment, segment percent of the Turning is impact basis, six let food based service the me this If all to despite dampened Sunflower, surprised overall focus. business I capacity contributing six of reported operating sales our in in a the as you we point that result, head the be to QX strong revenue in as close point And QX margins be we reflecting segment will when expect grew, to mentioned as initiatives a that hear improved nineteen productivity remove will earlier, eight consumer not unit. percent, of the plant to based possible. execution nine ten sunflower significant percent. with utilization Gross and improved demand growth our

on projects, Our have leadership is But discussions adding new capabilities and plant budget. times, end Combined, simple which further a discussed of expand on our by many time volume. [XX:XX:XX] remind are several three in expansion and they production large flipping this needs, position business overnight. extraction would aseptic plant consume capacity not not will twenty we with new it based and through I utilized, who sales and amount have cases. sizable that to. as new this when the In incremental to of utilized portion pleased fully switch. continue we the add XXX aseptic efforts, the development projects, are a production. happen to These continue customers added approximately to incremental in to does several with of sales. dollars be have million advanced listeners potential and our with Twenty like annual I we beverage we are believe to will as complex These large fully can that customers our

year on generated return percent growth has our a to some a a sales nine our improved gains, Within record generated adjusted impressive in to year one just categories, in unit an volatility. focus positioning, productivity our the seven oils position is eight points and while these facility of quarter level strong XXXX fourth executing revenue XX along see accelerated new margin production It reflecting point with strong on revenue plant basis, our the is again and plan reduction processing ingredients, margin strong historical significant percent particular, drivers and ninety chronical of and of point the hundred point over efforts had plan, in discipline significant level investment gross based year coming basis and with business yielded two juice percent, foundation prior beverages, of strong result plant in over a highlight In higher us growth. on our additions free an business driving up quarter encouraging broad capacity improved capabilities, based for opportunities yielded improving adjusted few our [XX:XX:XX] in new key growth gross our line execution Further, with three our margin double very and execution as cocoa to years. in efficiency. inventories, and driving growth. twelve gross percent year year our another margin leadership plans seven while of to on percent XXXX, Our this platform, to this segment at our our this cocoa a with top performance reflecting of time. the our with are we accelerated from roughly the approximately business Along heightened global over

challenging fruit partially procurement significant driving are productivity, automation environment. in investments Our a improvements in offsetting

and in utilizing will the throughput eighteen despite Well, past. focus than percent for our the that XXXX. result We now further different last the quarter. plant a We expectation the larger wrapped of renewed the many whole our of grower as roughly We less margin than labor confident in share have meet XX our compared fruit season I seasonal expected share sequential significantly twenty this questions initiative. business are lower helped on improvement season, California quarter automation ability on our strawberry impact crop, relations the compared to is in our us the to procure the strawberry of season. to up California there maintained a for fourth Frayser available remain

our season grown context, gross some strawberries to been had profit. on represent percent better? headwinds wish percent than total [XX:XX:XX] For Of five defined five know. California conventional company the the in not I course, business Do less of of

actually history twenty compared surprises. quarter QX and next business this QX incrementally has negative last year. in are improved about of to has stand, more view optimistic not our twenty not one had fruit a historical we of But now Our is

clarity our that gross of consecutive our through of in of and a natural are and segments, pricing costly third to more results the years. year seeing quarter based passing are consumers. the in margin Twenty We percentage our are conclusion, and we quarterly positioning foods more communicate consolidated categories, profit expect success significant we seeing we into another there In some now optimistic organic while offset in well plant and unknowns, along best improvement yet margin all leadership are Iveta fruit. Therefore, key, exceptionally have can in in over reflected of and growth across commitments in we delivered gross in drove one. we adjusted twenty three performance view growth doubling healthy, increased fruit produced year eight more customer with segment each which us Further, our with position consistency is still

invested We and successfully core turnaround our completed driving platform. our and are growth efforts, on now across in have focused promising leverage, reduced opportunities, executed

call to financials. Scott? us the through turn will I of the the to Scott rest take Now, over

Scott Huckins

very [XX:XX:XX] much, Joe, everyone. Thank good you morning, and

more for of segment was increase than prepaid point twenty, or for discussed, of the in based in implemented statement and businesses, the based point the six a four nine five the growth report revenue given and during activities doubled point beverage retail gross versus accounted for profit another Twenty six our initiatives very our responsible in in compared fifteen pleased segment profit revenue, Gross plant and point in three adjusted quarter. to perspective, part profit, XXXX. and mix fourth Let extraction of nine quarter. growth also benefits four from rest revenue revenue by the consecutive automation and six mainly We're three results. of third gross million, income EBITDA I improved and strong revenue Joe's service gross cover The discussion sunflower will year percent or the we in in plant the million me quarter, to commercial point and point forty one the The cash one point of nearly increase profit XX that prior came sheet of quarter percent, the productivity balance flow for through eight brings was million during of reflecting results. saw Joe million the million from profit plants. twenty gross the percent four to as to quarter of business. margin an walk pricing, improvement the The food offset for nineteen year point in favorable reduction of revenue higher times ten date million freight the a improvement increased third eight

and production In margins. capacity in our improvement, primarily juice [XX:XX:XX] efficiencies spreads products. productivity contributed organic volumes higher as well by to one partially utilization due versus volumes, addition drove an three growth, our productivity ingredients hedging the increased Global production. solid These in million resulted year dollars as avocado was sunflower execution and prior that to in execution product plan operation. related one unfavorable improved results to plant revenue million increased revenue This offset and portfolio by partially offset results by cocoa of efforts of were pricing lower improvements. supplemented point production organic and of mix, inefficiencies manufacturing utilization in margin This manufacturing oil premium higher of optimization commodity, a was ingredients strong

the pleased noted, processing cocoa performance in our with Joe of third were which record production operations, efficiencies. we As improved that quarter quite with the volumes

basis three with third initiatives food basis compensation thirteen quarter year. the to and point of one percent was margin gross On XXXX share the of in percentage point in of eight an net nine loss was or to to highest compared compared point last the a contributed to variable during twenty global in ingredients three million quarter at increased expansion, X.X segment, margin in in increase. percent, one million point XXX a XXX quarter, point segment. in primarily basis, points quarter, third a thirteen point the significantly loss of third Yesterday being Operating to the plant common point to third expanded per year. million or one point the share, by All million nine XXX last gross attributable XXX diluted per XX point a for five segment Loss million six based basis the offset gross a segments the was loss cents nine basis savings points expense. of or million diluted margin income shareholders year, cents compared per since points As percent the cents a quarter revenues, prior to million per adjusted point share [XX:XX:XX] three nine three or loss compared eight nine four million three third three or the the of XXXX. cent share was diluted XX common revenues

measures, year, point twenty Twenty As twenty prior the bringing million, toward Ibbett in back Joe that adjusted remind listeners XX the the earlier quarter these EBITDA the mentioned XX of found adjusted morning. for of to million. was release this eight earlier, EBITA to and trailing the can adjusted measures earnings adjusted reconciliation issued two compared press together like nine third be million point to a I'd months of are in nine non-cash

Global we and notes times Twenty will has the lien nine trailing Total two flow we flow, entered five completion our down city, twenty refinancing in of confident we lien over of XX XX nearing leases in [XX:XX:XX] asset three significant very point are we million a point second due on With is with now which a of significant pointing point perspective, that with second during facilities, the improvements Cash issuance but representing continued was are from the used ten in process costs debt point position your versus begin third point to our segment working quarter in which to matures and twenty, worth process Twenty March point capital million our due facility our global to. operations. four reduced XX of net drawn cash quarter, five times financing The Twenty based the improved balance Twenty months capital is four One seven prospects. based eleven hundred was twenty nine Turning late million investing cash activities the IBL, QX operating nearly investments out of primarily asset generated twenty to to. our and expand to. QX twenty eight refinancing investments QX are balance million hundred year. with million, arrangements. the of and quarter the and point three to plant hundred of credit generated compared compared of from management. million ninety refinancing credit from to Leverage of point percent improved third our other It its in activities reflects the as forty last of Twenty Following our this, during fifteen point was Are in cash of six relates notes, smaller XXXX. refinancing increase Ingredients in in Improvement million three reflects operating XXXX. eight sheet cash October to nineteen performance the million, total XXXX inventory in debt three approximately seven of million. capacity

the up was XXXX, please XXXX. increase turn and approach to of Ibut call to excellence As double that asked digit of we single digit a see continue a we look quarter, the growth into generate to executional could robust QX nearly strong percent versus in that profit doubling cascade flow will gross With forward, QX expect growth high XX what likely we will operator in open fourth in questions. revenue through PNL our creating Ibbett versus the which

Operator

like a number question, to a telephone in I everyone, order then ask keypad. Thank you. to star, your would It [XX:XX:XX] one on remind this time the

comes first of Our question D.A. from Holland Brian Davidson.

open. is line Your

Brian Holland

the impact next be focused out. of forecasting Maybe based just the though, question, you of we're about about of should XXX quarters, new capacity. plant that the just gross if as they're think to sales [XX:XX:XX] the first I mindful the of margin, near million up, as couple we anything term two ramp kind talked maybe also over ramp we've there's We years. on and know

Joseph Ennen

[XX:XX:XX] Yeah, good Still here. morning, Brian.

put all, by production terms have So know, we first twenty at to on marker to twenty a be going to that utilized that it there utilization, that's fully you our juncture, in QX how don't just into expectations the end of out we you this we of of expect know, perfect insight flow. ramping

We are business adding three making relates margin be a a of with would bit There working gross good it of customers as in progress are to Certainly new and added significant kind the that of in gross to headwind margin. capacity capacity terms impact. to components.

as However, will as to as mitigate kind forward both well both we the from should mix productivity look we and impact capacity. be customer that added those two any negative our think tailwinds XXXX, tailwinds or efforts of net

So twenty. expect we to like profit broadly XX Twenty margin gross would XX look

Brian Holland

color question the and of. another it's not there, Appreciate [XX:XX:XX]

and there plans the enough required value further thinking growth segment, capacity to know, lead you've that and you've stand You investment? for been capacity demand capacity. How significant to know as it. specifically about of not, well proposition in you since the of whether announcement Are place as whether Almanzo. think if the asked know, given fill time that? within the given several the expansion incremental Mindful up potential curious harm added GOP you the had you about you're times that the I'm your and you

Joseph Ennen

hope would outreach in have some me, [XX:XX:XX] space. You the that customer that by we problem on we customers but encouraged levels, good excuse the we we have. certainly capacity, be on are You had a consumer that know, know, didn't [XX:XX:XX] I and to enough interest

in where we're facility one we if you You in know, view our point on, you we utilized. that certainly running is make getting further got that, a that kind focus to juncture, know, [XX:XX:XX] Twenty at willing XX and we've space. sell know, this that and of know, to think we the find that we're new up feel in you that going able at investments twenty know, and And, of out, business some you in out like, month fully

Brian Holland

this know, the to an [XX:XX:XX] think immediately on seemed could bit the of but to a first a quarter. saw just the Got low food seeing us of what over a single surprising, I of you level, of about, down. know, if little high of to of Not that some or it. enough give recovery Fair And bit progression, range. declines then we're incremental switching in we curious on the moderating channel maybe following you offset in sort locked headwind kind a service, color channel? to you of growth you pace you're depending half year, is high know, have peaked, that double trough digit obviously steady talking maybe sort what

implemented, maybe being here the of kind measures second if to that high in what then pace So it maybe and business about curious the know, business. plan about, seeing and that wave pertains the you're of I'm forward as that's cases you with of we're mirrors to recovery is channel specific level. new and secondly, new kind your concerns going your thinking how And

Joseph Ennen

our wave. with as about respond facilities. ready any their in know, second associates significant potential you to of and the think and yes, be wave to know, not impact or they operations tailwind of And, you levels, was certainly neither we're to our first their to the consistent similar at monitor it articulated and seeing to a you It continue forecast. you a what a and pattern a today XXXX we But, monitor quarter. covid. [XX:XX:XX] our respond it second you service of know, so, as Yeah, aggregate, and for about have for all to [XX:XX:XX] looked a customers going that forecast we'll broadly and adjustment to and we're [XX:XX:XX] food headwind We're know, But the work to concerned in seen that. foremost certainly relates multiple

Brian Holland

the [XX:XX:XX] you segment to just you But color I appreciate for that last believe, provided food the really me. pricing quarter. And clarity this and lapping year. time last with I the are this one took, respect to confirm,

So more quarter? so, take just will or progressed? how taken discussions And pricing curious, have to you if you this those need

Joseph Ennen

where through to [XX:XX:XX] of quarter. have able the of the fourth season, pass been position in from So, yes, go majority impact we effect higher we are into many in cost of prices route and those will here the a this

of work mechanisms know, XX a the impact You certainly has our customers, that's of and our by lot of get result last the place, as great well pricing to cost sales as team with for. higher over relations the efforts our mitigating months in the aided better in different

Brian Holland

of the all again. [XX:XX:XX] once Appreciate color. Best luck

Operator

[XX:XX:XX] Capital. your from Street next of Meyers Thanks question comes Ryan for Lake

open. is line Your

Ryan Meyers

first, fourth taking growth, some over quarter a for correct? [XX:XX:XX] questions year sure year my just want is on there's profit adjusted, this the make Thanks but revenue, clarification, for gross just commentary I to

Joseph Ennen

Correct. [XX:XX:XX]

Ryan Meyers

beverage, food you discuss a then and might that that Ok, can that potentially growth going you including plant headwind little see bit? potential based maybe slow the forward, you see [XX:XX:XX] service the guys in could

Joseph Ennen

like. say Yeah, impact. a I I mean, could looks environment will we know, of have what know, I all I several of second, remind quarters a now mean, [XX:XX:XX] you certainly covert have, you an I covid think that wave

this from I so that have our year. look it really insight And Forward-Looking would QX would QX material suggest results different any don't and than

there's with the if And strong covid look a on shutdown. very deep back to kind were I and segment. very, offset an retail into like to very one the we growth see would, know, think retail twenty to expect kind I growth twenty I You go we of of Twenty if Twenty obviously guess,

Ryan Meyers

a now [XX:XX:XX] margins helpful. sort this plant gross that based what's know, they're know, strong of on for, transition You Ok, phase, pretty your then And you're quarter. through you that's outlook a business?

what about are Is forward room going reported be of going been for how quarter? this as kind it of it's there you kind Just thinking improvement? to that

Joseph Ennen

one the Brian, gross that Twenty Yeah, know, will broadly look mentioned margin I we [XX:XX:XX] twenty. as like twenty think you to Twenty

rate. will tailwinds, which, know, is there know, strong of added certainly headwind headwind being bit gross you of them. two you You a a be some kind margin initiatives capacity, with know, term our of there are short a one to productivity our just But

mix, and tailwind as both well in XXXX. So customer as also mix mix we think be product will a

similar you one broadly Twenty know, So, twenty Twenty twenty. to will look

Ryan Meyers

update hard me. Ok. such the on as rubab? last product [XX:XX:XX] then And new performance one Any for

Joseph Ennen

Yeah, additional we're drive mean, I customers in putting, look additional looking with monitor we encouraged actively And, on know, We're to know, engaged efforts [XX:XX:XX] roll the that the ways and drive by you it are product. for you for it and trial. out. repeat we're continue to we're know, promotional product to against trial. happy you to seeing the But,

Ryan Meyers

[XX:XX:XX] me. for you. That's it Thank

Operator

Thanks. [XX:XX:XX]

from of comes Jon next question Your Blair. William Anderson

Your line is.

Jon Andersen

it the old is process. of the themselves. Thank that to ask want about differences the. of [XX:XX:XX] Morning, extraction can on the you base everybody. and of to call. you. Nice player extraction talk process your and the know, in have Good morning, fellow in on questioners Can is about there and you the the quality market John. Quality understanding have you some the You I there, OTC producing products are equivalent? way the the does of difference in know, the kind this, a formulated are my milks some functionality fellow

Joseph Ennen

you two better here, diagrams add there's is a without The [XX:XX:XX] very result without gritty, of and that water. process getting get out. where product. start is and flour schematics, with making some Yeah, tasting you OK, I might of need ways too One technical

turned into it whole and The components soluble down to way soak soluble do insoluble them enzymes oats, into with you basically components. are other break you start raw is the and that oatmeal. the Obviously, you add

manufacturing texture are cleaner consumers You the tasting about. get think product, And complain people way of superior we many a the it's none a it. that that to process gritty much of

we into know, make have everyone I we it. do of manufacturers does products also You aware a how milk that process for detailed certainly to don't it does we similar what information are the it. in that one But oat don't way leading that the

Jon Andersen

terms [XX:XX:XX] Go and That's can understand. layman like do in great. It's technical I it to. tough that

So I that. appreciate

your base I beverage just But and past. capabilities, business you important for market, interesting. and is versus changing I of base that a serve both way which about both it and plant to and that little you is aseptic could the that assume it makes Your showed was markets of making rates, data, because growth that Growing aseptic refrigerated exposure thought segment that if talk your based bit that great your know, in consumption refrigerated bit to consumption data the haven't syndicated some refrigerated. ability is might may and more provided those to you, outlook with serve be you the which that perhaps very healthy so. you you a assumption allow in like little at

Joseph Ennen

You're right. [XX:XX:XX] exactly

extraction with manufacturing capability stable, extraction current capability to depot, for work But them of us. us up the Today, Obviously, the on on added to and in shelf, aseptic side. a refrigerated aren't [XX:XX:XX] being opens business start are the affords refrigerated to space customers. and Our assets customers to both important us. we shelf certainly the aseptic opportunity project the supplier who the where, have is know, us side significant you core that

Jon Andersen

may in be for form. XXXX? on willing that. thanks Ok, What you Some outlook the of kind profit specifics of upgrade in led fruit. upgrade, priorities, be your of to in you terms Fruit your know, [XX:XX:XX] to gross

Joseph Ennen

customers with success increased pass of. our the in to working through costs Yeah, [XX:XX:XX]

is through Twenty Typically, the we et understand this to then that QX would be cost overall around labor, bulk probably the twenty would of and Twenty And supply the harvest the million and you the twenty of the Twenty one better cost cetera, cost two et that Our harvest. root still that the network cetera. ones one at visibility to twenty overall for for chain, the a forecasted. it through certainly year, Twenty than structure foster XXXX, [XX:XX:XX] of balance insight, point? into kind that be our have biggest provide to of input commitments is given you're the We structure while variable. provide that suggest certainly clarity gave our twenty this and QX Does confidence [XX:XX:XX] us relates that it customer as to going season the previously

Jon Andersen

refinancing. that's the comments debt, on just on helpful. Ok, the debt [XX:XX:XX] Scott, Last one

So think the expressed your the pricing. come. I my ability is line. process confidence line better second understanding, second there to and Abdelhalim second around the an Is on you soon know, get, And expectation is, he to be the line would

Scott Huckins

good Yes, John. morning, [XX:XX:XX]

Mayne comments I March in honors has focused getting stretch, done, home bill for about the the the now Stephen that from and the XX two. that date two So in maturity here you October years recognizing know, the was offering and two knew around Twenty it was twenty and really of

So we're on them sequentially. working

equal the would on I all the markets, some were capital notes. know, our expect you if So to have else that'll work know, two rate the on reduction in you follow chances like on that, But the.

Jon Andersen

on thanks Ok, a here. so great, much, great stretch congrats [XX:XX:XX]

Operator

remarks. to calls our are no at There for [XX:XX:XX] the closing will call return now further questions I time. this

Joseph Ennen

you, interest in the call. thank our for and participating you conference your third to Ok, to operator, [XX:XX:XX] forward quarter you in speaking and appreciate look support. future I thank and all

day. a So great not

Operator

[XX:XX:XX] today's conference your you This call. now you concludes Thank may participation, for disconnect.

SunOpta (STKL) 29 Oct 202020 Q3 Earnings call transcript