07:47 AM EDT, 07/30/2024 (MT Newswires) -- George Weston (WN.TO) on Tuesday higher second-quarter profit that nevertheless missed forecasts, with the price fixing settlement for bread products impacting earnings.

Adjusted earnings rose 4.5% to $394 million, or $2.93 per share, from $377 million, or $2.68 per share, last year. The result missed the consensus analyst forecast of $3.04 per share, according to Capital IQ.

The $247 million settlement related to George Weston's role in the price-fixing arrangement for some bread products between 2001 and 2015 impacted results.

Second quarter revenue rose to $14.1 billion, from $13.9 billion in the prior year quarter, but fell short of the Capital IQ forecast 14.32 billion.

The company's 2024 outlook remains unchanged. A quarterly dividend of $0.820 per share was declared, payable October 1.