Sundial's Stock Surges On Q3 Earnings And Plans To Repurchase Up To CA$100M Of Its Shares

Sundial Growers Inc. (NASDAQ: SNDL) reported its financial and operational results Thursday for the third quarter ended Sept. 30, revealing net earnings of CA$11.3 million ($9 million) for the period, compared to a CA$71.4 million loss in the third quarter of the prior year.

In July, the Calgary, Alberta-based company acquired Inner Spirit Holdings, known for its national network of Spiritleaf retail stores.

Moreover, Sundial recently revealed it's purchasing Canadian liquor retailer Alcanna Inc. (TSX: CLIQ) (OTCPK: LQSIF) for roughly $346 million.

"Despite the ongoing challenges facing participants, our financial condition has never been stronger," Zach George, Sundial's CEO said. "Our balance sheet strength enables our team to avoid short-term pressures while improving the quality of our decision-making. We expect that the achievement of our objectives will result in an aggregate base business that generates free cash flow in 2022."

Q3 2021 Financial Highlights

  • Adjusted EBITDA was CA$10.5 …

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