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FY/2023

Generated By Getagraph.com: 2023-12-31

Village Farms [VFF] 1.71% $ 1.190
Giełda: NASDAQ Sektor: Consumer Defensive Branża: Farm Products

Village Farms International Reports Third Quarter 2023 Financial Results

Executive Summary

Village Farms International successfully navigated through the third quarter of 2023, with each of its operating segments delivering positive cash flow, and its Canadian and US cannabis businesses achieving positive adjusted EBITDA and net income. Despite facing industry-wide challenges, the company's consolidated net loss narrowed to $1.3M or $0.01 per share, backed by a solid performance in its fresh produce operations and strategic organic reinvestment in both the Canadian and international markets.

Financial Overview

Description Q3 2023 Results Comparison To Q3 2022
Consolidated Net Loss $1.3M Narrowed from $8.7M
Earnings Per Share (EPS) $0.01 Improved from -$0.10
Consolidated Sales $69.5M Decrease of 2%
Consolidated Adjusted EBITDA $3.2M Improvement of $5.4M

Business Segments Review

Canadian Cannabis Operations

Strong performance with total sales of 38.7M CAD and a positive adjusted EBITDA. Highlighted by market share gains, particularly in premium segments and successful product launches.

US Cannabis Operations

Balanced Health Botanicals sustained its positive trajectory, delivering net income, adjusted EBITDA, and cash flow on sales of $5M USD.

Fresh Produce Operations

Showed significant year-over-year improvement with positive adjusted EBITDA driven by better pricing, volume increases from third-party suppliers, and operational enhancements, contributing to a net loss improvement of nearly $3.6M USD.

Financial Charts

Forward-looking Statements

This financial report contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and entail various risks and uncertainties. Actual results may significantly differ. Village Farms International does not undertake any obligation to update publicly or to revise any of the forward-looking statements.

© 2023 Village Farms International. All rights reserved.

Revenues FY - 2023

Revenue Gross Profit Operating Expenses Interest Expense EBITDA Net Income EPS
$285.60M $49.43M $65.50M $4.51M $-13 000.00 $-31.80M $-0.290

Balance FY - 2023

Net IncomeDepreciation and AmortizationStock Based CompensationChange in Working CapitalNet Cash Provided by Operating ActivitiesCapital ExpenditureFree Cash Flow
$-31.80M$16.06M$3.11M$-2.09M$5.32M$-6.52M$-1.20M

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