Sundial Growers Inc. (SNDL) is engaged in the production of small-batch cannabis utilizing the noveel indoor facilities. The company offers the finest customer experience and best quality cannabis products. The company operates under segments including Operations, Retail, and Investments.
The price of SNDL stock during the regular trading on February 2, 2022, was $0.48 with a slight decline of 1.08%. At last check in the premarket on February 3, 2022, the stock further dipped by 4.41%.
SNDL: Events and Happenings
On January 24, 2022, SNDL updated about its allocation to BBB+ investment-grade ranking by Egan-Jones Ratings Company. On January 6, 2022, SNDL and Alcanna Inc. co-announced their agreement of progression of the cognition to be given to Alcanna’s stockholders for their common shares by the inclusion of a cash component.
On December 8, 2021, SNDL reiterated its pledge to the plan of agreement with Alcanna. The stockholders of Alcanna will receive 10.69 SNDL’s common shares per common share of Alcanna. On December 2, 2021, SNDL’s JV Sunstream IVXX Investment Corp. reported about the submission of a draft registration statement privately to the SEC for a preliminary public offering of its common stock. The number and price of shares to be sold had not been determined. The net proceeds from the transaction will be used to invest in the debt of companies. The offering will be expected to commence in the first quarter of 2022.
On November 11, 2021, SNDL updated about the approval of the share reacquisition program by BoDs. The program authorized to reacquire approximately C$100 million of the company’s outstanding common shares.
SNDL: Key Financials
On November 11, 2021, SNDL released its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.
Revenue
Gross revenue in Q3 2021 was $11 million compared to $15.5 million in the same period of 2020. The company missed the estimated revenue by $1.39 million.
Earnings
Net earnings for Q3 2021 were $11.3 million compared to a net loss of $71.4 million in the same period of 2020. The company’s actual EPS was in-line with the estimated EPS.
Conclusion
SNDL had lost up to 40% over the past six months period due to down-falling economic conditions during a pandemic. The company’s stock also dipped in the recent aftermarket session due to uncertain factors as the company showed no recent activity. As the company is approaching its next earnings release date, the financial experts believe good turn out by the company.
