Maple Leaf Foods Posts Decline In Earnings

Maple Leaf Foods Inc MLFNF reported a drop in its quarterly earnings on Tuesday. Maple Leaf Foods' net earnings for the quarter ended December 31 declined to C$9.2 million ($9.2 million), or 6 Canadian cents per share, versus C$30.6 million, or 21 Canadian cents per share, in the year-ago period. Its adjusted earnings per share dropped to 21 Canadian cents per share from 27 Canadian cents per share. However, analysts were expecting earnings of 26 cents per share. Maple Leaf Foods' revenue climbed 3% to C$1.25 billion, versus analysts' estimates of C$1.20 billion.