Corby Spirit and Wine (CSW-A) Q4 2026 earnings summary

Executive summary

• Achieved record full-year revenue, up 10% reported and 11% organic year-over-year, driven by RTD momentum and spirits market share gains.

• RTDs now represent about 40% of revenue, making the company a leading player in this fast-growing category.

• Earnings growth outpaced revenue, supported by disciplined investment in key brands and cost management.

• The company declared a quarterly dividend of CAD 0.25 per share, up 4% from the prior quarter, and delivered a one-year total shareholder return of 19%.

• Completed the sale of Lamb's rum brand for CAD 39.2 million and renewed the Pernod Ricard representation agreement for three years, with an $18.7M upfront fee and a possible two-year extension.

Financial highlights

• Full-year revenue reached CAD 271.6 million, up 10% reported and 11% organic year-over-year.

• Net earnings increased 22% year-over-year to CAD 33.4 million; adjusted net earnings up 15% to CAD 35.1 million.

• Adjusted EBITDA for FY26 was CAD 67.5 million, up 5% year-over-year.

• Q4 revenue was CAD 71.1 million, down 1% year-over-year; organic revenue was flat when excluding disposed brands.

• Q4 adjusted EPS was CAD 0.26 (down 1%), reported EPS was CAD 0.23 (up 4%).

Outlook and guidance

• FY27 is expected to bring continued market uncertainty, including the potential return of U.S. products to Canadian shelves and a tougher comparison base.

• Focus remains on profitable growth, maintaining a strong balance sheet, and supporting a sustainable dividend.

• RTD portfolio is expected to remain a major growth engine, with significant expansion potential across Canada.

• The company aims to continue gaining spirits market share, though the gap may narrow if U.S. products return.