SNDL Inc. (NASDAQ:SNDL) Q3 2023 Earnings Conference Call November 13, 2023 10:30 AM ET
Company Participants
Zach George - Chief Executive Officer
Alberto Paredero - Chief Financial Officer
Tank Vander - President, Liquor Retail
Tyler Robson - President, Cannabis
Conference Call Participants
Frederico Gomes - ATB Capital Markets
Pablo Zuanic - Zuanic & Associates
Operator
Good morning and welcome to SNDL’s Third Quarter 2023 Financial Results Conference Call. This morning, SNDL issued a press release announcing their financial results for the third quarter ended on September 30, 2023. 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 on the sndlgroup.com website. SNDL has also posted a supplemental investor presentation on its website.
Presenting on this morning’s call, we have Zach George, Chief Executive Officer; Alberto Paredero, Chief Financial Officer; Tank Vander, President, Liquor Retail; and Tyler Robson, President Cannabis.
Before we start, I would 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’ll move on to analyst questions.
I will now turn the call over to Zach George.
Zach George
Good morning, all and thank you for joining us on our third quarter 2023 financial and operational results conference call. I want to begin by acknowledging an important milestone for the SNDL team as this is the first quarter since inception that we have generated both positive net cash from operating activities and free cash flow. This milestone is a testament to the dedication of our team in driving positive change and the resilience and adaptability of our business segments. We are building the foundation of an important regulated products company with international potential that does not have a close peer in Canada. We are finding attractive opportunities for operational improvement in an industry, where capital is scarce and many competitors are star for liquidity amidst price compression driven by persistent oversupply and over licensing. Our goals are a far climb from where we stand today. We still have a lot of work to do, but we are making tremendous progress against the challenging macro backdrop.