SNDL INC Stock Price, News & Analysis

SNDL Inc. reported record net revenue of $223.7 million for Q2 2022, marking a 2,344% increase from Q2 2021. Liquor retail generated $148.6 million, and cannabis retail brought in $63.5 million. Despite achieving a gross margin of $43.1 million, the company faced a net loss of $74.0 million, up 41% year-over-year. Adjusted EBITDA loss expanded to $25.9 million, impacted by fair value adjustments. With a strong liquidity position showing $900 million in cash and no debt, SNDL continues to pursue vertical integration in regulated products.

SNDL Inc. (Nasdaq: SNDL) will announce its second quarter financial results for the period ending June 30, 2022, after market close on August 12, 2022. A conference call and webcast to discuss these results will take place on August 15, 2022, at 8:30 a.m. EDT. SNDL, the largest private liquor and cannabis retailer in Canada, operates across four segments: Liquor Retail, Cannabis Retail, Cannabis Production, and Investments. The company will also provide details regarding its recent rebranding efforts during the call.

Sundial Growers Inc. (Nasdaq: SNDL) announced on July 25, 2022, that all resolutions put to common shareholders at the reconvened meeting were approved. Key decisions included fixing the number of directors at five, electing directors for the coming year, and appointing Marcum LLP as auditors. Notably, shareholders approved a name change to 'SNDL Inc.' and a share consolidation at a ratio of one post-consolidation share for every ten pre-consolidation shares, effective July 25, 2022. This move aims to maintain a minimum bid price of US$1.00 per share and avoid delisting risks.

Sundial Growers Inc. (Nasdaq: SNDL) has adjourned its 2022 annual and special meeting of shareholders to July 25, 2022, due to insufficient quorum, as only 12.95% of shares were represented. The required quorum is 25%. The board believes that all resolutions have sufficient support. Shareholders attending the adjourned meeting in person or by proxy will constitute a quorum. Previous proxy votes will be counted unless revoked. The record date for voting rights remains June 21, 2022.

Sundial Growers Inc. (Nasdaq: SNDL) will hold its Annual and Special Meeting for shareholders on July 21, 2022, at 1 p.m. MDT. The deadline for submitting proxies has been extended to 12 p.m. MDT on the same day to encourage shareholder participation. Currently, there is supermajority support for all resolutions; however, a quorum has not yet been reached. If there is no quorum, the meeting will be adjourned, leading to additional expenses. Shareholders can participate online, and detailed information is available on the company's website.

Sundial Growers Inc. (Nasdaq: SNDL) announces its Annual and Special Meeting of shareholders on July 21, 2022, at 1 p.m. MDT. Key agenda items include electing current board members and approving a share consolidation between 10:1 and 25:1 to comply with Nasdaq's $1 minimum bid requirement and avoid delisting. This consolidation may enhance trading liquidity and access to capital. Shareholders must vote by July 19, 2022. The meeting offers an online participation option for registered shareholders.

Sundial Growers announced an agreement to acquire Zenabis Global Inc. and its assets under a "stalking horse bid" as part of the Companies' Creditors Arrangement Act proceedings in Canada. The acquisition includes a 380,000 sq. ft. indoor cultivation facility in Atholville, New Brunswick, capable of producing approximately 46,000 kgs of dried cannabis annually, with EU GMP certification for international exports. The deal also encompasses a decommissioned facility in Stellarton, Nova Scotia. Zenabis contributed $11.1 million to consolidated net revenue in Q2 2022, with international revenues from Zenabis accounting for 54% of HEXO's total international sales.

Sundial Growers reported a 78% increase in net revenue to $17.6 million for Q1 2022, bolstered by the acquisition of Alcanna. The cannabis cultivation segment generated $8.8 million, while cannabis retail contributed $7.5 million. Despite challenges, gross margin improved to $3.4 million, compared to a loss in the previous year. The net loss narrowed to $38 million, a 72% improvement year-over-year. The company holds $1 billion in cash and investments with no debt, positioning itself strongly in a challenging market.

Sundial Growers (Nasdaq: SNDL) is set to release its first quarter financial results for the period ending March 31, 2022, on May 16, 2022, after market close. Following the results, a conference call and webcast will take place on May 17, 2022, at 10:30 a.m. EDT. Sundial operates in various sectors, including cannabis production and retail, liquor retail, and investments. The company, now the largest private sector cannabis and liquor retailer in Canada, utilizes a unique 'craft-at-scale' approach in its cannabis production.