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The North West Company (NWC) investor relations material
The North West Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net earnings increased 12.9% year-over-year to $41.1 million, driven by improved gross profit rates and lower expenses despite a 0.5% decrease in sales.
The Next 100 initiative contributed to margin gains, operational efficiency, and improved profitability.
Sales were impacted by reduced government funding in Canada and a lower Permanent Fund Dividend in Alaska.
A quarterly dividend of $0.41 per share was declared, payable January 15, 2026.
Financial highlights
Consolidated sales decreased 0.5% year-over-year to $634.3 million, with same-store sales down 1.7%.
Gross profit rose 1.4% to $217.1 million, with the gross profit rate up 64 basis points year-over-year.
Net earnings grew 12.9% to $41.1 million; diluted EPS was $0.82, up from $0.72 last year.
Expenses decreased by 1% and were down 13 basis points as a rate to sales.
EBIT increased 8.5% to $58.7 million; EBITDA rose 6.5% to $88.9 million.
Outlook and guidance
Sales in Q4 are expected to remain pressured by continued reductions in government funding, with some offset from First Nations child and care settlement payments.
Settlement payment distribution is expected to ramp up in 2026 and continue for several years.
Next 100 program initiatives, including private label expansion and supply chain optimization, are expected to deliver further benefits through 2027.
Management expects continued value delivery to customers and shareholders from the Next 100 strategy.
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