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Village Farms Q3 2024 Earnings, And Senate Leader Announced

By Shadd Dales On Nov 14, 2024

Welcome to our latest Trade To Black Podcast. Michael DeGiglio, CEO of Village Farms (NASDAQ:VFF) joins us to talk about the company’s Q3 2024 earnings, and explains how the cannabis segment saw a 29% year-over-year growth in total net sales. We’ll also touch on some of the recent political news including Donald Trump’s recent appointments, and how we expect these to impact the cannabis industry.

Village Farms managed to surpass analysts’ expectations for the quarter. DeGiglio explains how Village Farms managed to achieve this success in market position. The company had strong growth in fresh produce sales, but on the cannabis side of things, among their Q3 2024 highlights are a 29% increase to $50 million CAD in Canadian cannabis net sales, a positive $6.5 million CAD adjusted EBITDA, and an increase in consolidated total sales to $83.4 million, about 20%.

Some of the other notable highlights from their earnings included international medical cannabis sales doubling year over year, with significant growth in Germany, Australia, and the UK. DeGiglio discusses the growing international market opportunities in the Netherlands and Israel. Though the company has not managed to expand into the US, we’ll explore some of the potential expansion routes for Village Farms.

On the political end, Donald Trump has appointed Matt Gaetz as Attorney General and this might work out well for the cannabis industry and reform. Gaetz has a history of advocating for legalization and SAFE banking. Plus, earlier today it was announced that Senator John Thune will become the new Senate Majority Leader come January 20th, 2025, on the day Donald Trump officially becomes the 47th President of the United States of America.

Hosts Shadd Dales and Anthony Varrell will chat about whether or not they believe that’s a good thing for the cannabis industry long term, and cannabis stocks moving forward.

Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.