SNDL earnings date
SNDL (VY4) Q3 2026 Earnings Report
DE:VY4 Q3 2026 EPS Results
- Actual EPS
- -EUR 0.13
- Consensus EPS
- -EUR 0.01
- Beat/Miss
- Missed by -EUR 0.12
- One Year Ago EPS
- -EUR 0.03
DE:VY4 Q3 2026 Revenue Results
- Actual Revenue
- EUR 154.22M
- Expected Revenue
- EUR 148.60M
- Beat/Miss
- Beat by +EUR 5.62M
- YoY Revenue Growth
- -4.14%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/27/2026
- Time
- Before Open
- Conference Call
- Tuesday, October 27, 2026
SNDL's next earnings date is estimated for March 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly positive, with record free cash flow, a return to positive adjusted operating income, record gross margins in both retail segments, continued share repurchases, and expanded U.S. investment exposure. These achievements were partially offset by declining consolidated revenue and gross profit, a significant goodwill impairment, weak Liquor Retail demand, and continued underperformance in Cannabis Operations. Management emphasized that further work and strategic alternatives remain necessary, but the number and significance of the stated operational and financial improvements outweighed the challenges.
SNDL expects a second and final CAD 8 million cash inflow in the fourth quarter as it completes the unwinding of the captive structure, and expects the P&L benefits of cost actions at its Kelowna facility to begin contributing in the fourth quarter; EU GMP certification for Atholville is expected “any day now,” eliminating processor costs of anywhere from CAD 0.20-CAD 0.45 a gram, while facility upgrades are expected to deliver better quality and yields. The company announced a potential substantial issuer bid for an aggregate purchase price of up to $50 million at a price per share not to exceed $1.35, and, subject to definitive documentation and payment of a $200,000 monetary penalty, the anticipated Ontario resolution is expected to include approximately $30 million of third-party secured financing, with deconsolidation expected to reduce reported net revenue by approximately CAD 105 million and operating income by approximately CAD 2 million.
- Record Free Cash Flow and Return to Positive Adjusted Operating IncomeSNDL generated record quarterly free cash flow of CAD 20 million, up CAD 3.3 million or 19.5% year-over-year. Adjusted operating income was positive CAD 5.2 million, an improvement of CAD 14.8 million from a loss of CAD 9.5 million in the prior-year quarter. The improvement included a CAD 9.9 million reduction in corporate expenses and a CAD 6.6 million improvement from investments.
- Record Cannabis Retail Revenue and MarginCannabis Retail net revenue reached a new quarterly record of CAD 85.6 million, up CAD 0.6 million or 0.7% year-over-year. Gross profit increased by CAD 0.7 million to CAD 23.1 million, while gross margin expanded 60 basis points to a record 27.0%. Adjusted operating income increased CAD 0.2 million or 4.7% to CAD 5.3 million, supported by promotional and product mix efficiencies and increased data revenue. New store openings and Value Buds conversions more than offset a 3.8% decline in same-store sales.
- Record Liquor Retail Gross Margin and Private Label MomentumLiquor Retail gross margin expanded 70 basis points to a record 27.0%, supported by pricing, product mix management, and procurement productivity. The three new Wine and Beyond store openings during the last 12 months and continued momentum in private label sales partially offset the same-store sales decline, with private label outperforming national brands by 8.5 percentage points in the quarter.
- Disciplined Capital ReturnsSNDL repurchased 5.4 million common shares during the third quarter for $10 million, excluding commissions, at a weighted average price of $1.31 per share. Including repurchases through the October measurement date, SNDL has repurchased 34 million shares since the fourth quarter of 2024 for $73.5 million, representing an approximately 8% reduction in shares outstanding. During 2026, approximately 23 million shares were repurchased for over $45 million, representing approximately 9% of the 263.4 million common shares outstanding at the beginning of 2026. SNDL also announced a potential substantial issuer bid of up to $50 million at a price per share not exceeding $1.35, subject to required approvals and documentation.
- Expanded Parallel Ownership and U.S. Investment ActivityFollowing Parallel's restructuring in July, SNDL's participation in its rights offering increased indirect equity ownership from approximately 67% to approximately 92%. SNDL funded investments supporting a new cultivation facility in Gainesville, Florida, and SunStream acquired additional Parallel takeback debt at 75% of face value, increasing ownership of that debt from 39.4% to 69.4%. Parallel operates in Florida, Texas, and Massachusetts, with 56 retail locations, three manufacturing and cultivation sites, approximately 800 employees, and approximately $150 million of net revenue.
- Potential Path Toward Consolidating Parallel's Medical Cannabis BusinessSNDL is evaluating different paths to direct ownership and financial consolidation of Parallel's medical cannabis business. Management stated that the business offers meaningful scale, an attractive margin profile, and a platform for continued growth. SNDL said it has the ability to deploy capital into the U.S. through the SunStream joint venture and is working with relevant regulatory bodies and exchanges to facilitate consolidation of at least the medical exposure into recurring P&L.
- Atholville EU GMP Milestone and Facility UpgradesThe Atholville facility successfully passed its EU GMP audit, with receipt of the certification expected any day. Management stated that avoiding reliance on processors could eliminate costs of anywhere from CAD 0.20 to CAD 0.45 per gram. Planned upgrades, including modern-generation lights and HVAC upgrades, are expected to improve quality and yields and support better realized pricing in international markets.
- Operational Actions to Improve Cannabis OperationsSNDL exited the unprofitable domestic dried flower category and is concentrating resources on higher-value products, including edibles, beverages, infused categories, branded products, and license relationships. The company reduced manufacturing costs and other operating expenses, particularly at the Kelowna facility, including a workforce reduction of more than 30% at that site. Management expects the P&L benefits of these actions to begin contributing in the fourth quarter and has initiated a strategic review covering potential asset divestitures and broader productivity initiatives.
- Working Capital and Captive Insurance Contributions to Cash FlowWorking capital optimization contributed CAD 2.5 million in the third quarter. Free cash flow also benefited by CAD 10.6 million from the initial unwinding of the captive insurance arrangement. SNDL expects a second and final CAD 8 million cash inflow in the fourth quarter as it completes the unwinding of the captive structure.
- Financial Flexibility and Debt-Free Balance SheetManagement stated that SNDL continues to maintain balance sheet flexibility through its debt-free balance sheet and investment portfolio while returning capital to shareholders and selectively investing in opportunities such as Parallel.
DE:VY4 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 18, 2027 | 2026 (Q4) | 0.00- | 0.03 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | -0.01-0.13 | -0.03 | -320.00% (-0.10) | |
| Jul 28, 2026 | 2026 (Q2) | -0.00-0.02 | 0.01 | -400.00% (-0.03) | |
| Apr 29, 2026 | 2026 (Q1) | -0.03-0.03 | -0.04 | 33.33% (+0.01) | |
| Mar 12, 2026 | 2025 (Q4) | 0.010.03 | -0.16 | 116.00% (+0.18) | |
| Nov 04, 2025 | 2025 (Q3) | 0.00-0.03 | -0.04 | 28.57% (+0.01) | |
| Jul 31, 2025 | 2025 (Q2) | -0.030.01 | -0.01 | 150.00% (+0.02) | |
| May 01, 2025 | 2025 (Q1) | -0.05-0.04 | -0.01 | -500.00% (-0.03) | |
| Mar 18, 2025 | 2024 (Q4) | -0.01-0.16 | -0.21 | 24.24% (+0.05) | |
| Nov 05, 2024 | 2024 (Q3) | -0.03-0.04 | -0.04 | -12.90% (-0.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
