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Rogers Sugar Inc. (TSE:RSI)
TSX:RSI
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Rogers Sugar
(TSX:RSI)
Select Model
Select Model
Rating:70Outperform
Price Target:
C$7.00
â–²(11.46% Upside)
Rogers Sugar's strong revenue growth and improved profitability margins are significant positives. The technical indicators suggest a bullish trend, and the valuation appears attractive with a low P/E ratio and high dividend yield. However, the company's increasing debt levels and declining cash flow, along with potential risks from U.S. tariffs, present challenges that need to be addressed.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust demand and successful market strategies, enhancing long-term business prospects and competitive positioning.
LEAP Project Progress
The LEAP Project's progress suggests strategic expansion and operational enhancement, potentially boosting capacity and efficiency in the long term.
Free Cash Flow Growth
Improved free cash flow supports ongoing investments and dividend stability, indicating strong cash generation ability and financial health.
Negative Factors
Rising Debt Levels
Higher reliance on debt financing can strain financial flexibility and increase risk, potentially affecting long-term stability and growth.
Declining Cash Flow
Significant decline in cash flow raises concerns about the company's ability to sustain operations and fund future growth without external financing.
Potential U.S. Tariffs Impact
Potential U.S. tariffs pose a risk to export sales, which could affect revenue and market access, challenging the company's international competitiveness.
Rogers Sugar (RSI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$791.75M
Dividend Yield5.73%
Average Volume (3M)252.41K
Price to Earnings (P/E)11.4
Beta (1Y)0.49
Revenue Growth7.42%
EPS Growth25.60%
CountryCA
Employees956
SectorConsumer Defensive
Sector Strength42
IndustryFood Confectioners
Share Statistics
EPS (TTM)0.13
Shares Outstanding128,114,260
10 Day Avg. Volume229,196
30 Day Avg. Volume252,409
Financial Highlights & Ratios
PEG Ratio6.26
Price to Book (P/B)1.59
Price to Sales (P/S)0.55
P/FCF Ratio49.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$7.00Price Target Upside11.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Rogers Sugar Business Overview & Revenue Model
Company DescriptionRogers Sugar Inc. (RSI) is a leading Canadian producer of sugar and sweeteners, operating primarily in the sugar refining and distribution sectors. The company specializes in the production of a variety of sugar products, including white sugar, brown sugar, liquid sugar, and specialty sweeteners. With facilities located in British Columbia and Quebec, Rogers Sugar serves both retail and industrial customers across Canada and the United States, focusing on delivering high-quality sugar products while maintaining sustainable practices.
How the Company Makes MoneyRogers Sugar generates revenue primarily through the sale of sugar products to various sectors including food and beverage manufacturers, retail grocery stores, and foodservice operators. The company's revenue model is based on the production and refinement of sugar, which is then sold in bulk or packaged formats. Key revenue streams include the sale of granulated sugar, specialty sugar products, and liquid sweeteners. Additionally, Rogers Sugar benefits from significant long-term contracts with major customers, which provides stability to its earnings. The company also engages in strategic partnerships and collaborations to enhance its distribution capabilities and expand market reach, further contributing to its revenue.
Rogers Sugar Earnings Call Summary
Earnings Call Date:Aug 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 27, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted growth and strong financial performance in both the Sugar and Maple segments, along with significant progress in the LEAP Project. However, there were challenges in revenue and profitability in the Sugar and Maple segments, respectively, as well as increased operational costs and potential risks from U.S. tariffs.Q3-2025 Updates
Positive Updates
Growth in Sugar and Maple Segments
Sales volumes in the Sugar segment increased by 3% over the same period last year and by more than 5% for the first 9 months of the year. Maple sales volumes increased by 20% in the quarter and 15% for the year-to-date.
Record Adjusted EBITDA Performance
Consolidated adjusted EBITDA for the quarter increased by 8% to almost $37 million, with year-to-date EBITDA at $111 million, a 7% increase over the prior year.
Strong Free Cash Flow
Free cash flow for the trailing 12 months grew by 18% to $88 million, supporting growth and operational improvements.
LEAP Project Progress
The LEAP Project is on track for completion by the end of calendar 2026, with construction progressing as planned and the estimate for total cost remaining consistent at between $280 million and $300 million.
Negative Updates
Decline in Sugar Segment Revenues
Revenues from the Sugar segment were down 2.5% in the quarter due to a lower average commodity price for raw sugar.
Challenges in Maple Segment Profitability
Adjusted gross margin in Maple decreased to 8.2% from 10.4% in the same period last year due to unfavorable customer mix and higher syrup costs.
Increased Administrative and Selling Expenditures
An increase of over $2 million in administrative and selling expenditures in the Sugar segment was noted, associated mainly with nonrecurring severance costs.
Potential Impact of U.S. Tariffs
There is lingering uncertainty around potential U.S. tariffs, which could impact export sales.
Company Guidance
During the Rogers Sugar Inc. Analyst Call held on August 12, 2025, President and CEO Mike Walton provided an optimistic outlook for the remainder of fiscal 2025, emphasizing the company's resilient business model and steady demand for sugar and maple products. The Sugar segment saw a 3% sales volume increase in the quarter and a 5% increase year-to-date, while the Maple segment experienced a 20% quarterly growth and a 15% increase year-to-date. The company's consolidated adjusted EBITDA for the quarter rose by 8% to nearly $37 million, contributing to a year-to-date figure of $111 million, marking a 7% increase from the previous year. Walton also highlighted the progress of the LEAP Project, with a continued focus on the Montreal expansion, and reaffirmed the project's completion cost estimate between $280 million and $300 million. CFO Jean-Sebastien Couillard noted that the company's free cash flow for the trailing 12 months grew by 18% to $88 million, supporting ongoing investments and a stable dividend of $0.09 per share. The call concluded with discussions on sugar market dynamics, including the potential impact of tariff changes and the shift towards natural sweeteners.Rogers Sugar Financial Statement Overview
Summary
Rogers Sugar shows strong revenue growth and improved profitability margins, but the increasing debt levels and declining cash flow pose potential risks. The company needs to focus on improving cash generation and managing debt to ensure long-term financial stability.Income Statement
Rogers Sugar has demonstrated strong revenue growth, with a TTM revenue growth rate of 36.2%, significantly higher than previous years. Gross profit margin and net profit margin have improved slightly, indicating better cost management and profitability. However, the net profit margin remains modest at 4.8%, suggesting room for improvement in profitability.75
Positive
Balance Sheet
The company's debt-to-equity ratio has increased to 1.01 in the TTM period, indicating a higher reliance on debt financing, which could pose a risk if not managed carefully. Return on equity has improved to 14.6%, reflecting efficient use of equity to generate profits. The equity ratio remains stable, suggesting a balanced asset structure.65
Positive
Cash Flow
Free cash flow has declined significantly, with a negative growth rate of -970.97% in the TTM period, raising concerns about cash generation capabilities. The operating cash flow to net income ratio is relatively low at 0.28, indicating potential challenges in converting income into cash. The negative free cash flow to net income ratio further highlights cash flow issues.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.30B | 1.23B | 1.10B | 1.01B | 893.93M | 860.80M |
| Gross Profit | 197.94M | 175.87M | 165.73M | 130.81M | 139.74M | 126.20M |
| EBITDA | 145.02M | 122.88M | 119.50M | 41.02M | 108.07M | 90.50M |
| Net Income | 69.34M | 53.73M | 51.79M | -16.57M | 47.53M | 35.42M |
Balance Sheet | ||||||
| Total Assets | 1.13B | 1.08B | 960.90M | 937.96M | 879.93M | 887.14M |
| Cash, Cash Equivalents and Short-Term Investments | 26.64M | 19.12M | 46.00K | 151.00K | 15.64M | 1.97M |
| Total Debt | 381.13M | 380.88M | 438.37M | 397.79M | 365.02M | 363.04M |
| Total Liabilities | 683.31M | 656.33M | 654.00M | 646.54M | 560.97M | 616.95M |
| Stockholders Equity | 444.21M | 422.41M | 306.90M | 291.42M | 318.96M | 270.19M |
Cash Flow | ||||||
| Free Cash Flow | 104.92M | 13.71M | 8.92M | -2.18M | 53.90M | 38.45M |
| Operating Cash Flow | 190.42M | 79.79M | 44.32M | 21.55M | 78.58M | 64.60M |
| Investing Cash Flow | -85.51M | -66.08M | -35.40M | -23.73M | -24.68M | -26.15M |
| Financing Cash Flow | -84.03M | 5.36M | -8.89M | -13.55M | -40.16M | -36.79M |
Rogers Sugar Technical Analysis
Positive
6.28
Price Trends
6.28
Positive
6.01
Positive
5.68
Positive
Market Momentum
>-0.01
Negative
56.21
Neutral
76.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RSI, the sentiment is Positive. The current price of 6.28 is above the 20-day moving average (MA) of 6.24, below the 50-day MA of 6.28, and above the 200-day MA of 5.68, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 56.21 is Neutral, neither overbought nor oversold. The STOCH value of 76.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RSI.
Rogers Sugar Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | C$396.51M | 14.32 | 15.03% | 6.55% | 7.47% | 14.65% | |
74 Outperform | $1.44B | 12.50 | 11.45% | 2.00% | 17.69% | 13.69% | |
70 Outperform | C$791.75M | 11.41 | 16.09% | 5.73% | 7.42% | 25.60% | |
67 Neutral | C$3.28B | 18.22 | 11.72% | 3.12% | -0.03% | 497.79% | |
64 Neutral | C$4.27B | 45.49 | 3.86% | 3.65% | 8.42% | -17.99% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | C$490.34M | 7.63 | 8.60% | 5.63% | 6.15% | -36.76% |
* Consumer Defensive Sector Average
TSE:RSI
Rogers Sugar
6.31
1.00
18.83%
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Rogers Sugar Corporate Events
Rogers Sugar Reports Strong Growth Amid Challenges
Sep 1, 2025
Rogers Sugar’s recent earnings call painted a picture of robust growth and financial performance, particularly in its Sugar and Maple segments. The company showcased significant advancements in its LEAP Project, despite facing some challenges in revenue and profitability. Concerns were also raised regarding increased operational costs and potential risks from U.S. tariffs.
Business Operations and StrategyFinancial Disclosures
Rogers Sugar Reports Strong Q3 Results Amid Market Volatility
Positive
Aug 12, 2025
Rogers Sugar reported strong financial results for the third quarter of fiscal 2025, with consolidated adjusted EBITDA rising to $36.6 million. This growth was driven by robust demand in both its sugar and maple segments, despite market volatility due to new US tariffs. The company is actively expanding its Eastern sugar refining capacity through the LEAP Project, which is progressing as planned. The company also reported an increase in free cash flow and sales volumes, highlighting its resilience and strategic positioning in the market.
The most recent analyst rating on (TSE:RSI) stock is a Hold with a C$6.50 price target. To see the full list of analyst forecasts on Rogers Sugar stock, see the TSE:RSI Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.