SNDL · SNDL Q2 FY2026 earnings call record财报电话会记录

“Net revenue declined 3.7% year-over-year to CAD 235.8 million, reflecting persistent demand softness and broader market headwinds.”

“Since the fourth quarter of 2024, total repurchases have exceeded 29 million shares, representing approximately a 7% reduction in shares outstanding.”

“With CAD 183.2 million of unrestricted cash, no outstanding debt as of June 30th, 2026, and a portfolio of cannabis-related investments with a carrying value of CAD 415.2 million, SNDL is well-positioned to pursue disciplined growth, strategic investments, acquisitions, and continued return of capital to shareholders.”

“The decline was driven by market headwinds across both Liquor and Cannabis segments.”

“Gross profit was CAD 33.8 million, down 7.4% year-over-year, and gross margin was 25.1%, down 60 basis points.”

“Gross profit was CAD 22 million, increasing slightly by CAD 0.1 million year-over-year, while gross margin expanded 50 basis points to 26.4%.”

“The decline was driven by market headwinds and the absence of business-to-business flower deliveries, as some of our partners are also experiencing demand shortfalls.”

“These impacts were partially offset by a CAD 1.2 million increase in international sales, which reached CAD 5 million in the second quarter of 2026.”

“Gross profit was CAD 0.6 million, down CAD 8.7 million year-over-year, while gross margin was 1.8%, a decline of 24 percentage points from the prior period.”

“During the quarter, we repurchased 11.7 million common shares for cancellation for CAD 23.3 million of cash outflows, excluding commissions, at a weighted average price of $1.43 per share.”

“Since the fourth quarter of 2024, SNDL has repurchased more than 29 million shares with an aggregate repurchased value of approximately CAD 64.5 million at an average price of $1.58 per share.”

“We continue to see margin opportunities, and as we get our mix right in retail, we actually expect both margin and free cash flow accretion going forward.”