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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.
Village Farms International
Village Farms International (VFF) investor relations material
Village Farms International Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q3 consolidated net sales were $66.903M; record cannabis sales reached $55.0M, net income attributable to shareholders was $9.968M, and Adjusted EBITDA from continuing operations was $18.241M.
International exports rose 75% YoY to $20.771M, representing ~43% of cannabis sales and supporting the quarter amid Canadian trim-market softness.
Sixth consecutive quarter of positive net income; quarter-end cash was $79.3M and reported net cash was $41M.
Financial highlights
Q3 net sales were $66.903M versus $66.741M YoY; gross profit was $29.325M versus $31.938M, and gross margin was 43.8% versus 47.9%.
Net income attributable to shareholders was $9.968M versus $10.217M; basic EPS was $0.08 versus $0.09.
Adjusted EBITDA from continuing operations was $18.241M versus $20.686M YoY; margin was 27% versus 31%.
9M sales rose 9% to $181.118M and gross profit rose 17% to $80.284M; 9M net income attributable to shareholders was $20.030M versus $30.011M, including prior-year discontinued-operations income.
Q3 operating cash flow was $9.5M; cannabis operations generated $7.3M.
Outlook and guidance
Delta 2 is on track for Q1 2027 completion, with 40 MT annual capacity expected by mid-2027 and Delta campus capacity expected to reach ~160 MT.
Groningen Phase II is fully planted; maximum annualized production capacity is expected in early 2027, supporting stronger sales from Q4 through 2027.
Canadian wholesale trim volumes and pricing are expected to normalize in Q4, supported by October orders and new supply agreements at stronger contracted prices.
Mobilization began to prepare the 30-acre Monahans greenhouse for cannabis production; U.S. market entry depends on available regulatory pathways.
Delta 1 rights provide optionality to convert 16 acres to cannabis production during 2027; no conversion plan has been formalized.
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Latest events from Village Farms International
- International expansion and EU-GMP scale supported $61.8M TTM adjusted EBITDA.VFF
Corporate presentation - Export growth and about 100 metric tons of planned capacity drive expansion.VFFPlanet MicroCap Showcase: Toronto 2026
- Strong profitability and global expansion drive growth, with new capacity and markets ahead.VFFIAccess Alpha Virtual Best Ideas Fall Investment Conference 2026
- Record cannabis sales and 74% export growth drove Q2 net income up 21% to $7.1M.VFFQ2 2026
- Industry-leading cannabis platform with global scale, profitability, and growth momentum.VFFCorporate presentation
- All directors elected, motions approved, and chairman to step down but remain as director.VFFAGM 2026
- 27% sales growth, record exports, and facility expansions drive strong Q1 2026 results.VFFQ1 2026
- Shareholders to vote on directors, executive pay, and auditor at the June 2026 virtual meeting.VFFProxy filing
- Record 2025 profitability, 70% cannabis sales growth, and strong cash position.VFFQ4 2025
Next Village Farms International earnings date
Q4 202612 Mar, 2027
Village Farms International
Next Village Farms International earnings date
Q4 202612 Mar, 2027
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Frequently asked questions
Village Farms International, Inc. is a vertically integrated greenhouse grower and distributor of tomatoes, bell peppers and cucumbers grown through high-tech, environmentally-controlled greenhouses in British Columbia and Texas. It is one of the largest distributors of greenhouse produce in North America. It is also one of the continent's largest producers of greenhouse produce under the Village Farms brand. Village Farms owns, operates and jointly manages farms in B.C., Ontario, Quebec, New York and Texas with more than 11 million square feet (1.05 million cubic meters) of state-of-the-art greenhouse production systems located in North America. Village Farms International is based in Delta, Canada.