SNDL Inc. (NASDAQ:SNDL) Q3 2022 Results Conference Call November 14, 2022 10:30 AM ET
Company Participants
Zach George - CEO
James Keough - CFO
Tank Vander - President, Liquor Retail
Andrew Stordeur - President, COO
Conference Call Participants
Shaan Mir - Canaccord Genuity
Frederico Gomes - ATB Capital Markets
Operator
Good morning, and welcome to the SNDL's Third Quarter 2022 Financial Results Conference Call. SNDL issued a press release this morning announcing their financial results for the third quarter ended on September 30, 2022. This press release is available on the company's website at sndl.com and filed on EDGAR and SEDAR as well. The webcast replay of the conference call will also be available later today on the sndl.com website. SNDL has also posted a supplemental investor presentation found on the sndl.com website.
Presenting on this morning's call we have Zach George, Chief Executive Officer; Jim Keough, Chief Financial Officer; Tank Vander, President of Liquor Retail; and Andrew Stordeur, President and Chief Operating Officer.
Before we start, I'd like to remind investors that certain matters discussed in today's conference call or answers that may be given to questions could constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect results are detailed in the company's financial reports and other public filings that are made available on SEDAR and EDGAR. Additionally, all financial figures mentioned are in Canadian dollars unless otherwise indicated.
We will now make prepared remarks and then we will move to analyst questions.
I would now like to turn the call over to Zach George.
Zach George
Good morning, everyone, and welcome to SNDL's third quarter 2022 conference call. Q3 proved to be another encouraging quarter for our company. Our focus on operational execution and sustainable profitability is enabled us to deliver record revenue and operating cash flow this past quarter. I've spent almost three years openly discussing the challenges facing our company and the cannabis industry. And for the first time, I see contrary indicators suggesting that, the Canadian industry is nearing a trough, warranting a more bullish stance.
Despite the imperfect rollout of the Canadian legal cannabis market, a massive oversupply of licenses and products and continued pricing erosion, there are reasons for optimism at SNDL. In a sense, things in the Canadian cannabis industry are so bad that they are good. We are seeing an unrelenting oversupply of flower inventories and an acceleration of bankruptcy filings amongst peers. Our team continues to work hard every day to turn industry headwinds into tailwinds for our consumers and investors, as we drive toward improved results.