SNDL Inc (STU:VY4)

Q1 2026 SNDL Inc Earnings Call Transcript

Apr 29, 2026 / 02:00 PM GMT

Release Date Price: €1.12 (-10.71%)

Transcript

Key Points

Positve

SNDL Inc (SNDL) reported improvements in gross margin for both liquor and cannabis retail segments.
The company secured an exclusive contract for the production and commercialization of Jeter, a leading U.S. cannabis brand, which is expected to drive growth.
SNDL Inc (SNDL) implemented profit enhancement initiatives projected to generate over $20 million in incremental operating income for the year.
The company expanded its cannabis retail network by six stores, including five cost cannabis locations in Alberta and Saskatchewan.
SNDL Inc (SNDL) reported a 94% increase in international sales, indicating strong growth potential in international markets.

Negative

SNDL Inc (SNDL) experienced a 4.4% year-over-year decline in net revenue, primarily due to market contractions in liquor retail and cannabis operations.
The cannabis operations segment saw a 14% year-over-year decrease in net revenue, driven by restocking activity and timing of business-to-business orders.
Gross profit declined by 6.8% compared to the same period last year, with a consolidated gross margin decline of 70 basis points.
Free cash flow was negative $7.6 million for the quarter, impacted by seasonality and increased capital expenditures.
The company faced challenges in the cannabis market, with a 2.5% decline in same-store sales in cannabis retail, partially offset by new store openings.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SNDL.OQ - SNDL Inc
Q1 2026 SNDL Inc Earnings Call
Apr 29, 2026 / 02:00PM GMT

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Presentation
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Good morning, and welcome to SNDL's first-quarter 2026 financial results conference call. This morning, SNDL issued a press release announcing their financial results for the first quarter of 2026 ended on March 31, 2026.

This press release is available on the company's website at sndl.com and filed on Edgar and Sadar as well. The webcast replay of the conference call will also be available on the sndl.com website.

SNDL has also posted a supplemental investor presentation in addition to the conference call presentation we will be reviewing today on its SNDL.com website.

Presenting on this morning's call, we have Zach George, Chief Executive Officer, and Alberto Paradero, Chief Financial Officer. Before we start, I would like to

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