Village Farms Shares Gain On Q3 Revenue Beat

by Shivani Kumaresan, Benzinga Staff Writer

November 9, 2021 2:35 PM | 1 min read | Make a Comment

Village Farms International Inc VFF reported third-quarter FY21 sales growth of 68% year-on-year, to $72.45 million, beating the analyst consensus of $68.72 million.
Total cannabis sales were $31.2 million, including Pure Sunfarms sales of $27.4 million and Balanced Health sales of $3.8 million. Produce sales declined 4% to $41.2 million.
The gross profit more than tripled to $17.7 million, with the margin at 24.5%.
Adjusted EBITDA of $6.7 million rose 49% Y/Y.
EPS of $0.01 was in line with the analyst consensus.
Price Action: VFF shares closed higher by 11.03% at $9.26 on Tuesday.