Village Farms Q4 net loss $49.3M, impairment $13.5M, write-down $11.0M

Village Farms International, Inc.

Consolidated sales $69.5M, down 5% YoY; net loss $49.3M vs income $2.1M.
Canadian Cannabis net sales up 13.1% constant currency; achieved #2 national market share.
Cannabis segment adjusted EBITDA $5.0M; Fresh Produce adjusted EBITDA loss $(3.0)M.
Recorded $13.5M impairment on Balanced Health goodwill; $11.0M inventory write-down.
Commenced cannabis exports to Israel in Jan 2023 under 3-yr supply agreement.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Village Farms International, Inc. reported the fourth quarter and year ended December 31, 2022 results: revenue $69.5 million, net income ($49.3 million), or ($0.54) per share, EPS ($0.54) per share.

Period: the fourth quarter and year ended December 31, 2022
Revenue: $69.5 million
Net income: ($49.3 million), or ($0.54) per share
EPS: ($0.54) per share
Result: reported results

Exact text from the filing

Consolidated sales were $69.5 million, a decrease of ($3.3 million), or (5%), from $72.8 million

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Village Farms International, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-006830

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