Maple Leaf Q2 positive thanks to pork improvements

Maple Leaf Foods Inc. reported a C$57 million profit in its second quarter earnings, compared to a C$26.2 million loss in the same quarter of 2024.

The company also provided an update on its new pork business, Canada Packers Inc. Shareholders approved the spin-off decision in June.

Maple Leaf noted the transaction would be implemented as a tax-free “butterfly reorganization,” which would be subject to receipt of an advance tax ruling from Canada Revenue Agency and final TSX approval. The company expects this to be completed during the last half of 2025 as planned.

“We continue to make excellent progress toward completing the spin-off of Canada Packers, supported by resounding shareholder approval and accelerating operational readiness,” said Curtis Frank, president and chief executive officer of Maple Leaf Foods. “This historic transaction will unlock significant shareholder value and establish two focused, market-leading companies. We remain firmly on track to complete the transaction in the second half of the year, delivering long-term value for all our stakeholders.”

For the period ended June 30, 2025, total quarterly sales were up to C$1.36 billion ($987 million), an 8% increase compared to C$1.25 billion from the same period last year. Adjusted operating earnings increased year-over-year to C$122.8 million ($89.1 million) compared to C$78.1 million.

In separate units, sales in the Prepared Foods business increased approximately 7.5%, which was driven by pricing, improved mix and growth.

Sales in the Pork operating unit in the second quarter saw an increase of 10.7% due to the rise in the number of hogs processed and higher average hog weights.