Maple Leaf says price hikes led to lower sales in prepared foods segment
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Maple Leaf says it saw less demand for some of its products after it hiked prices to mitigate rising raw materials costs.
Curtis Frank, chief executive of Maple Leaf Foods Inc., said the company raised prices earlier this year to offset higher fuel costs and overall inflation, which led to lower demand in its prepared foods category during the second quarter.
But he said those lower sales volumes didn’t come as a surprise.
“It’s very normal in consumer packaged goods for (price increases) to have a volume impact, not just for Maple Leaf or our industry, but very normal in consumer packaged goods,” Frank said on a conference call on Wednesday.
Maple Leaf reported its prepared foods sales, which represent about 60 per cent of its revenue mix, fell two per cent in the latest quarter.
It posted a second-quarter profit of $40.8 million, down from $57.8 million a year ago, as its sales rose 1.6 per cent.
The company says the profit amounted to 33 cents per share for the quarter ended June 30 compared with a profit of 47 cents per share in the same quarter last year. Sales totalled $1.02 billion, up from $1.00 billion.
Maple Leaf’s bet on protein snacks emerged as a bright spot in the second quarter, as the company continues to expand in that category.
“We have a really important consumer insight here, which is healthy protein snacking is here to stay,” Frank said.
The company launched Mighty Protein Meat Sticks last fall and a protein snack kit earlier this year, and made them available at gas stations and convenience stores.
So far, Frank said the company has set up distribution partnerships with 1,500 gas stations and convenience stores.
But he said there’s more room to grow.
The company is planning to expand its charcuterie offerings and launch more options in its breakfast lineup, including breakfast egg white bites and egg white sandwiches, Frank said.
Maple Leaf said its poultry sales rose 7.1 per cent, driven by higher volumes, improved channel mix and pricing.
On an adjusted basis, Maple Leaf said it earned 44 cents per share in its latest quarter, up from an adjusted profit of 33 cents per share in the second quarter of 2025.
This report by The Canadian Press was first published Aug. 12, 2026.
Companies in this story: (TSX: MFI)