Corby Spirit and Wine (CSW-A) Q2 2026 earnings summary

Executive summary

• Achieved record H1 revenue of $142.3 million, up 12% year-over-year, with Q2 revenue of $66.9 million, up 9% year-over-year, driven by RTD expansion and market share gains in spirits and wine.

• RTD now represents about one-third of revenue and contributed nearly three-quarters of net sales growth, reinforcing its role as a core strategic pillar.

• Outperformed the Canadian spirits market in value for the thirteenth consecutive quarter, with significant share gains across all categories.

• Adjusted Net Earnings for Q2 were $9.1 million (+8%) and for H1 were $20.1 million (+8%), with reported Net Earnings up 12% and 11% respectively.

• Quarterly dividend increased by 4.3% to $0.24 per share, marking the third increase in less than 18 months.

Financial highlights

• Q2 revenue reached $66.9 million, up 9% year-over-year; H1 revenue totaled $142.3 million, up 12% year-over-year.

• H1 organic revenue rose 13%, with domestic case goods up 14% and export revenue up 38%.

• Adjusted EBITDA for Q2 was $17.3 million (+1%), and for H1 was $37.6 million (+2%).

• Adjusted EPS for Q2 was $0.32 (+8% YoY); H1 adjusted EPS was $0.71 (+8% YoY), with reported EPS at $0.67 (+11% YoY).

• Cash from operating activities in H1 was $37 million, up 4% year-over-year.

Outlook and guidance

• Expecting normalization in growth in H2 after a strong H1, but still projecting strong full-year revenue growth.

• Focus remains on outperforming the market through investments in core brands, accelerating RTD expansion, and disciplined cost management.

• Continued focus on expanding RTD portfolio and gaining market share in spirits, with agility to respond to market changes.

• Committed to protecting margins, driving profitable growth, and delivering long-term shareholder value.