Lassonde reported Q3 EPS of C$5.94, below the C$6.34 estimate, as production problems and lower volumes weighed on results.
Lassonde Industries Inc. (TSX: LAS-A) reported third-quarter 2026 results after markets closed on November 5. EPS came in at C$5.94, 6.3% below the C$6.34 calendar estimate. Lower sales, production interruptions in the U.S. beverage network and higher operating costs weighed on the quarter. Favourable concentrate costs and a stronger sales mix provided some support. For Canadian investors, the key question is whether Lassonde can resolve its near-term operating challenges as it prepares to move production to a new facility in New Jersey.
Recent earnings trend
Lassonde Industries Inc
LAS-A.TO
LAS-A.TO
Lassonde Industries Inc
WealthAwesomeMarket cap
$1.59B
P/E
10.3x
Div. yield
1.73%
Div. / share
$4.40
52W high
$272.98
52W low
$200.32
1W change
-7.41%
Beta
-0.01
Analyst Price Targets
Based on analyst covering LAS-A · as of Oct 26, 2026
Wall Street analysts forecast LAS-A stock price to rise 19.8% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$279.75
+19.8% Upside
Previously C$278.00 on Sep 17, 2026
Current Price
C$233.46
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on LAS-A's historical volatility
30-Day Vol
35.0%
Annualized
90-Day Vol
33.4%
Annualized
Trend (90d)
-6.3%
Annualized drift
90d Mean
C$228.25
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$231.71 | C$205.36 – C$261.45 |
| 60 trading days | C$229.97 | C$193.87 – C$272.79 |
| 90 trading days | C$228.25 | C$185.18 – C$281.34 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 3 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-25 | — | 6.9800 | — |
| 2026-09-30 | 2026-11-05 | 5.9400 | 6.3400 | -6.3% |
| 2026-06-30 | 2026-08-06 | 7.4500 | 6.1000 | +22.1% |
| 2026-03-31 | 2026-05-07 | 5.3600 | 5.4300 | -1.3% |
| 2025-12-31 | 2026-03-26 | 7.5200 | 5.9300 | +26.8% |
| 2025-09-30 | 2025-11-06 | 5.8400 | 4.8400 | +20.7% |
Investor takeaway: The earnings miss reflects several operating challenges, not one isolated problem. Sales fell 2.3% year over year, excluding foreign exchange, while production issues and higher conversion, freight and packaging costs pressured margins. Management expects demand and volumes to stay weak, and conversion costs could remain high into early 2027. There were some positives: gross profit rose to $206 million, adjusted EPS increased 2% year over year, and the company benefited from lower concentrate costs and a better sales mix. Investors should watch for production to return to normal and for Lassonde to replace specialty-food volume on comparable terms.
C$5.94 EPS, 6.3% below estimate
Lassonde’s EPS missed the C$6.34 calendar estimate by C$0.40. Results over the previous four comparable quarters were mixed, with two beats and two misses. In Q3, production interruptions, lower sales and higher conversion and freight costs weighed on results. Lower concentrate costs and a stronger sales mix helped support gross profit. The earnings trend table and chart below show the quarter-by-quarter comparison.
Bull case
Some Lassonde brands held up despite challenges in their categories. Apple & Eve expanded its distribution with U.S. retailers and benefited from new reduced-sugar products. In Canada, Oasis gained volume and market share in the chilled category. Lower orange and apple concentrate costs, along with a stronger sales mix, helped lift gross profit.
Lassonde also has room on its balance sheet to manage the transition. Net debt to adjusted EBITDA was 1.25:1, below the company’s internal maximum of 3.25:1. The new $200 million New Jersey facility remains on schedule and on budget. Production is expected to start moving there near the end of Q4, with the transfer continuing through 2027.
Bear case
The quarter highlighted operating risks that could take time to address. U.S. production problems included a 20-day shutdown at a North Carolina single-serve line and issues with aging equipment in New Jersey. These problems raised conversion costs and limited growth, while adjusted EBITDA margin fell to 11.7% from 11.9%.
Management expects demand and volumes to remain weak. For 2026, it expects sales, excluding foreign exchange, to come in slightly below last year. Replacing about 70% of lost specialty-food volume does not guarantee that Lassonde will recover the same earnings. Operating cash flow fell to $63 million from $118 million, and capital spending is expected to reach about 7% of sales in 2026.
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