Saputo USA to close Suamico manufacturing plant

USA – Saputo Cheese USA Inc. has announced plans to close its Suamico manufacturing plant in December, resulting in the layoff of 240 workers, according to a letter sent to the Wisconsin Department of Workforce Development on September 3.

Phased layoffs will take place in November and December, according to the DWD layoff notice. All workers at the Suamico plant have been notified of the closure and the timing of the layoffs, according to the letter.

The company first announced its decision to close the plant at 13190 Velp Ave., on Feb. 2, 2023.

Saputo stated that the goal was to consolidate and modernize operations, relocating packaging operations from its Suamico manufacturing plant to a packaging and distribution facility in Franklin, thereby creating more than 650 jobs in southeastern Wisconsin.

Saputo reports revenue of US$3.37B in Q1 2026

Recently, the main company reported Revenues of US$3.37 billion (C$4.63 billion), up US$18.205 million (C$25 million) or 0.5%, driven by higher selling prices in both domestic and international cheese and dairy ingredient markets.

Net earnings totalled US$120.153 million (C$165 million) or $0.40 per share (basic and diluted), up US$16.7486 million (C$23 million) or $0.07 per share, respectively.

The increase in net earnings was mainly due to higher adjusted EBITDA and a gain on hyperinflation (Argentina net monetary position) as compared to a loss for the same quarter last fiscal year, partially offset by higher financial charges, restructuring costs, and depreciation and amortization. The increase in EPS also reflects common shares purchased under our normal course issuer bid (NCIB).

Adjusted net earnings totalled US$133.97 million (C$184 million) or $0.44 per share (basic and diluted), up US$12.37 million (C$17 million or $0.05 per share, respectively. The increase in adjusted EPS is mainly due to higher net earnings and reflects common shares purchased under our NCIB.

Net cash from operating activities totalled US$230.84 million (C$317 million), up US$91.77 million (C$126 million) or 66%. The increase is mainly due to higher adjusted EBITDA1 and lower working capital usage.

The Company returned capital to shareholders through the purchase of approximately US$3.423 million (C$4.7 million) common shares for a total purchase price of $123 million and the payment of dividends totalling US$57.54 million (C$79 million).

Operational improvements, primarily driven by ongoing efficiency initiatives stemming from our recent capital investments, disciplined execution on customer fulfillment, and proactive cost management, supported margin enhancement.

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