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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
George Weston
George Weston (WN) investor relations material
George Weston Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary31 Jul, 2026
Executive summary
Revenue rose 4.1% year-over-year to $15,201 million in Q2 2026, driven by growth at both Loblaw and Choice Properties.
Adjusted EBITDA increased 6.1% to $1,942 million, with margin up 30bps to 12.8%.
Adjusted net earnings available to common shareholders grew 9.8% to $436 million, while reported net earnings fell 48.4% due to unfavorable fair value adjustments.
Adjusted diluted net earnings per share rose 12.9% to $1.14, reflecting strong operating performance.
Loblaw completed the sale of PC Financial after quarter-end, with results now presented as discontinued operations.
Financial highlights
Operating income was $1,367 million, down 0.1% year-over-year, reflecting unfavorable net impact of adjusting items offset by improved underlying performance.
Free cash flow from continuing operations was $885 million, up $380 million year-over-year.
Net asset value per common share increased 4.3% to $120.89 since year-end.
Quarterly dividend per share increased 8.0% to $0.321768.
GWL Corporate free cash flow was $416 million.
Outlook and guidance
Adjusted net earnings are expected to increase in 2026, with excess cash allocated to share repurchases.
Loblaw targets high single-digit adjusted net earnings per share growth and $2.4 billion in capital expenditures.
Choice Properties targets 2–3% growth in Same-Asset NOI and annual FFO per unit of $1.08–$1.10.
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Latest events from George Weston
- Revenue topped $60B as adjusted EBITDA and corporate free cash flow grew.WN
Q4 2023 - Strong results, higher dividends, and major investments marked the joint AGM; all proposals failed.WNAGM 2025
- Strong financial growth, strategic acquisitions, and robust governance defined the AGM.WNAGM 2026
- Revenue and earnings rose strongly, with robust retail and real estate performance and major new investments.WNQ1 2026
- $600M equity backs $5B acquisition, boosting growth and keeping majority control.WNInvestor update
- Q4 adjusted diluted EPS up 15.2%, revenue up 11.2%, with strong outlook for 2026.WNQ4 2025
- Adjusted EPS rose 9.3% as operational gains offset a major legal settlement charge.WNQ2 2024
- Q3 adjusted EPS up 15.1%, revenue up 4.6%, and full-year earnings outlook raised.WNQ3 2025
- Adjusted EBITDA and revenue rose, but net earnings fell on fair value adjustments.WNQ2 2025
Next George Weston earnings date
Q3 202624 Nov, 2026
George Weston
Next George Weston earnings date
Q3 202624 Nov, 2026
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Frequently asked questions
George Weston Limited is a Canadian holding company with interests in food processing, distribution, and real estate. Its operations include bakery products and ownership in grocery and pharmacy businesses through its subsidiary, Loblaw Companies Limited. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.