SunOpta Inc. (NASDAQ:STKL) Q1 2022 Earnings Conference Call May 11, 2022 5:00 PM ET
Company Participants
Joe Ennen - CEO
Scott Huckins - CFO
Conference Call Participants
Brian Holland - Cowen and Company
Andrew Strelzik - BMO Capital Markets
John Anderson - William Blair
Mark Smith - Lake Street Capital
Alex Fuhrman - Craig-Hallum
Operator
Good afternoon, and welcome to SunOpta's First Quarter 2022 Earnings Conference Call. By now, everyone should have access to the earnings press release that we issued this morning and is available on the Investor Relations page on SunOpta's website at www.sunopta.com. 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 all risk factors contained in SunOpta's press release issued this afternoon, the Company's annual report filed from Form 10-K and other filings with the Securities and Exchange Commission for a more detailed discussion of the factors that could cause actual results to differ materially from those projections and any 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 securities laws. Finally, we would like to remind listeners that the Company may refer to certain non-GAAP financial measures during this teleconference. A reconciliation of these non-GAAP financial measures was included in the Company's press release issued earlier today. Also, please note that unless otherwise stated, all figures discussed today are in U.S. dollars and are occasionally rounded to the nearest million.
And now, I'd like to turn the conference call over to SunOpta's CEO, Joe Ennen. Please go ahead.
Joe Ennen
Good afternoon. And thank you for joining us today. With me on the call in Scott Huckins, our Chief Financial Officer. We are pleased with the first quarter results which exceeded our expectations. We are especially pleased with a strong rebound in top line growth as we made solid progress working through the various constraints that negatively impacted Q4.
Before we begin unpacking the Q1 result, let me offer some takeaways from the quarter. We saw significant sequential improvement versus Q4 up and down the P&L and across the business. Revenue plus 18% gross profit plus 52% and EBITDA plus 46%. Top line was strong across the portfolio fueled by pricing but also supported by volume growth.