By Adriano Marchese
SNDL was hit with restructuring charges and negative portfolio evaluations in the first quarter, dragging loss deeper.
The Edmonton, Alberta, liquor-and-cannabis company on Thursday posted a widened net loss of 14.7 million Canadian dollars ($10.7 million), compared with a loss of C$4.65 million a year earlier.
In the quarter, the SNDL's loss was weighed further by a negative evaluation of C$4.5 million from the SunStream portfolio, its cannabis-investment arm, and restructuring charges of C$3 million. A year earlier, the company benefited from a favorable valuation adjustment to the portfolio.
Net revenue rose 3.6% to C$204.9 million, thanks to growth of nearly 17% in its combined cannabis business. Revenue from liquor retail, its largest segment, fell 5.7% to C$109.5 million.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 01, 2025 07:43 ET (11:43 GMT)
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