Saputo Inc., parent company of Richfield, Wisconsin-based Saputo Specialty Cheese, reported lower earnings but higher revenues in the second quarter of Fiscal 2018.
Net earnings for Montreal-based Saputo Inc. totaled $185 million in the second quarter, down 3.4 percent from the same period last year. Revenues, at $2.88 billion, were up 1.4 percent.
Basic net earnings per share also were down in the second quarter, falling from $.49 to $.48.
Saputo Inc. reported higher cheese sale volumes and stronger revenues, driven by higher international cheese prices, in its U.S. dairy division.
Saputo Specialty Cheese markets cheese under 14 brands including Saputo and Stella.