Quarterly ResultMay 11, 2026, 07:07 AM
Village Farms Q1 Net Sales +27% to $50.2M; Net Income $2.9M
AI Summary
Village Farms International reported a strong start to 2026 with consolidated net sales increasing 27% to $50.2 million and net income reaching $2.9 million. Adjusted EBITDA from continuing operations surged 118% to $9.9 million, driven by record international export sales which grew 171%. The company also completed facility upgrades, expanding its EU-GMP certified cannabis production capacity, and expects further sales growth from Canadian and Netherlands expansions in the second half of the year.
Key Highlights
- Consolidated Net Sales increased 27% to $50.2 million.
- Net Income was $2.9 million, or $0.03 per share.
- Adjusted EBITDA from continuing operations increased 118% to $9.9 million.
- International export sales grew 171% year-over-year to a record $14.6 million.
- Canadian retail branded sales increased 5%; Netherlands sales increased 448%.
- Cash flow used in operations was ($11.8) million, primarily due to $15.0 million in Canadian income taxes paid.
- The company repurchased $6.4 million in shares and made $9.2 million in capital expenditures.
- Facility upgrades completed, making it the world's largest EU-GMP certified cannabis facility.
Price Impact
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