Village Farms Q1: net loss $0.06/sh, revenue -8% to $64.7M; cannabis retail +40%, adj EBITDA positive

Village Farms International, Inc.

2023-Q1 EPS reported -$0.06 revenue$64,656,000

Net loss of $6.6M ($0.06 per share) vs $6.5M loss ($0.07) in Q1 2022; revenue down 8% to $64.7M.
Canadian cannabis retail branded sales up 40% YoY; international export sales up 943%; adj EBITDA +95% to $3.9M.
Fresh Produce segment adjusted EBITDA improved to negative $1.0M from negative $6.2M, third consecutive quarter of improvement.
Pure Sunfarms credit facilities extended to February 2026 on same terms.
CEO highlights cannabis taxation challenges; first shipment to Germany received.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Village Farms International, Inc. reported first quarter ended March 31, 2023 results: revenue $64.7 million, net income ($6.6 million), EPS ($0.06) per share.

Period: first quarter ended March 31, 2023
Revenue: $64.7 million
Net income: ($6.6 million)
EPS: ($0.06) per share
Result: reported results

Exact text from the filing

Quarter Financial Highlights (All comparable periods are for the first quarter of 2022 unless otherwise stated) Consolidated • Consolidated sales decreased 8% year-over-year to $64.7 million from $70.2 million; • Operating loss before tax was ($6.1 million) compared with ($8.3 million); • Consolidated net loss was ($6.6 million), or ($0.06) per share, compared with

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Village Farms International, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-020070

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