Q3 2025 Corby Spirit and Wine Ltd Earnings Call Transcript
Key Points
- Corby Spirit and Wine Ltd (CBYDF) reported a robust 7% revenue growth year-to-date, driven by the acquisition of new beverage brands and market expansion.
- The company has successfully gained market share, with a decline limited to 1.9% in a market that is declining by 3.6%, indicating strong competitive positioning.
- Corby Spirit and Wine Ltd (CBYDF) has maintained a healthy balance sheet with a net debt to adjusted EBITDA ratio of 1.6 times, reflecting solid financial health.
- The company declared a dividend of $0.23 for Q3, marking a 10% increase over the previous year, showcasing its commitment to shareholder returns.
- Corby Spirit and Wine Ltd (CBYDF) has effectively leveraged the retail modernization in Ontario, particularly benefiting its ready-to-drink (RTD) and wine portfolio.
- Q3 results were challenging, with a 1% decrease in reported revenue and a 9% decline in organic revenue, impacted by high comparison bases and inventory reductions at the LCBO.
- The company faced a 10% decrease in adjusted EBITDA for Q3 due to increased operational costs and a softer top line.
- Export revenue declined by 12% year-over-year, affected by the previous year's pipeline fill to new markets.
- The spirits market in Canada is challenging, with a 3.6% decline, particularly impacting the Ontario region.
- Despite revenue growth, the company experienced a 20% decline in adjusted earnings per share for Q3, highlighting profitability pressures.
Good morning. Welcome to Corby Spirit and Wine's fiscal year 2025 Q3 financial results conference call for the period ended March 31, 2025. Joining me on the call this morning are Nicholas Krantz, President and Chief Executive Officer, and Juan Alonso, Vice President and Chief Financial Officer. Hopefully you have had the opportunity to review the press release which was issued today.
Before we begin, I would like to inform listeners that information provided on today's call may contain forward-looking statements which can be subject to risk and uncertainties that could cause actual results to differ materially from those anticipated.
Risks and uncertainties about the company's business are more fully discussed in Corby materials, including annual and interim MD&A filed with the securities regulatory authorities in. Canada as required at this time, (Operator Instructions). Now I would like to turn the call over to Mr. Nicolas Krantz. Please go ahead, sir.
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