George Weston Ltd
OTC:WNGRF
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George Weston Ltd
OTC:WNGRF
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Earnings Calls
Last Earnings Call
Bakery Divestiture: George Weston has sold its entire bakery business, Weston Foods, for $1.57 billion, marking a major strategic shift towards retail and real estate.
Shareholder Returns: The company intends to return net proceeds from the bakery sale to shareholders through share buybacks over time.
Q3 Performance: Revenue grew 2.4% to $16.2 billion and adjusted net earnings from continuing operations rose 6.4% to $365 million.
Loblaw & Choice Strength: Both Loblaw and Choice Properties reported steady operational and financial improvements, with Loblaw boosting its full-year EPS outlook.
Capital Allocation: $411 million of shares were repurchased in Q3, and GWL’s economic and voting interest in Loblaw increased to 52.6% after settling a forward sale agreement.
Future Focus: Management emphasized continued focus on their food retail and real estate businesses, with no near-term plans to diversify further.