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EFF 0.030 +20.0% W 0.500 +1.0% RDG 0.160 +0.0% ARIC 0.780 +4.0% VROY 3.44 +5.2% ROCK 3.81 +3.0% APMI 0.120 +0.0% EM 3.58 −4.8% ALS 66.04 +6.8% MEK 0.065 +44.4% TLO 6.00 +13.0% ADE 0.045 −66.7% FAIR 0.060 +33.3% SVRS 0.420 −2.3% RES 0.050 +42.9% CYG 0.120 +0.0% EFF 0.030 +20.0% W 0.500 +1.0% RDG 0.160 +0.0% ARIC 0.780 +4.0% VROY 3.44 +5.2% ROCK 3.81 +3.0% APMI 0.120 +0.0% EM 3.58 −4.8% ALS 66.04 +6.8% MEK 0.065 +44.4% TLO 6.00 +13.0% ADE 0.045 −66.7% FAIR 0.060 +33.3% SVRS 0.420 −2.3% RES 0.050 +42.9% CYG 0.120 +0.0%
Earnings

Sucro Announces Second Quarter 2025 Results

By The Northwire Desk — AI Analysis Aug 21, 2025 · 08:00 SUGR · 13.25 Sucro Limited
SUGR · Price

Executive Summary

  • Sucro Limited reported financial results for the second quarter and first half of 2025, highlighting record-breaking revenue and sugar delivery volumes.
  • The company achieved a quarterly record in free cash flow of $6.1 million, marking the sixth consecutive quarter of positive free cash flow.
  • While net income declined year-over-year due to compressed margins from higher-cost raw inputs, management expects margin recovery in the second half of 2025 as current market supplies flow through the system.

Key Details

  • Revenue: $231.4 million for Q2 2025 (up 67.7% from $138.0 million in Q2 2024); $386.7 million for the first half of 2025 (up 19.8% from $322.8 million in H1 2024).
  • Volume: Sugar deliveries reached 286,989 metric tons in Q2 2025 (up 118.9% from 131,086 metric tons in Q2 2024); 463,308 metric tons for H1 2025 (up 47.6% from 313,951 metric tons in H1 2024).
  • Net Income: $2.0 million for Q2 2025 (down from $3.96 million in Q2 2024); $14.0 million for H1 2025 (down from $23.7 million in H1 2024).
  • Earnings Per Share (Basic): $0.19 for Q2 2025 (down from $0.57 in Q2 2024); $1.28 for H1 2025 (down from $3.43 in H1 2024).
  • Free Cash Flow: $6.1 million for Q2 2025 (a quarterly record, up from $2.99 million in Q2 2024); $7.3 million for H1 2025 (down from $8.0 million in H1 2024).
  • Adjusted Gross Profit: $13.2 million for Q2 2025 (down 9.6% from $14.6 million in Q2 2024); $26.9 million for H1 2025 (down 12.3% from $30.7 million in H1 2024).
  • Adjusted Gross Profit Margin: 5.7% for Q2 2025 (down from 10.5% in Q2 2024); 7.0% for H1 2025 (down from 9.5% in H1 2024).
  • Adjusted Gross Profit per Metric Ton: $45.87 for Q2 2025 (down 58.7% from $111.04 in Q2 2024); $58.17 for H1 2025 (down 40.6% from $97.88 in H1 2024).
  • EBITDA: $9.9 million for Q2 2025 (down 28.8% from $14.0 million in Q2 2024); $32.8 million for H1 2025 (down 27.8% from $45.5 million in H1 2024).
  • Adjusted EBITDA: $9.7 million for Q2 2025 (up 12.7% from $8.7 million in Q2 2024); $19.7 million for H1 2025 (up 2.0% from $19.3 million in H1 2024).
  • SG&A Expenses: Reduced by 24.8% year-over-year to $6.8 million in Q2 2025.
  • Interest Expense: Down 29.1% year-over-year.
  • Refineries Volume: 59,074 metric tons in Q2 2025 (up 0.8% from 58,613 metric tons in Q2 2024); 107,276 metric tons in H1 2025 (up 1.8% from 105,367 metric tons in H1 2024).
  • Refineries Adjusted Gross Profit: $6.6 million in Q2 2025 (down 29.7% from $9.3 million in Q2 2024); $14.7 million in H1 2025 (down 8.4% from $16.1 million in H1 2024).
  • Refineries Adjusted Gross Profit per Metric Ton: $110.92 in Q2 2025 (down 30.2% from $159.00 in Q2 2024); $137.13 in H1 2025 (down 10.0% from $152.42 in H1 2024).
  • Operational Updates: Construction is advancing on two new cane sugar refineries in Hamilton, Ontario (expected operational late 2025) and University Park, Illinois (expected operational early 2026).

Notable Quotes

  • "Our second quarter results of 2025 demonstrate strong execution and scalability of our integrated business model... Deliveries nearly doubled from last year, setting new records in revenue and volume. While margins were compressed by higher-cost raw inputs purchased in late 2024, we expect margin recovery in the second half of 2025 as current market raw sugar supplies flow though our system. At the same time, we achieved structural cost reductions in SG&A, while advancing construction on two new refineries." — Jonathan Taylor, Founder and Chief Executive Officer
Read the original news release →

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