Newfoundland and Labrador Liquor Corporation reports decrease in alcohol sales, increase in cannabis sales

Newfoundland and Labrador Liquor Corporation released its financial and operational results for the second quarter of fiscal year 2025-26.

The corporation reported net earnings for the quarter of $56.3 million, a decrease of $3.7 million, or 6.2 percent, compared with Q2 of fiscal year 2024-25.

The reason for the decrease is due to reduced gross profit on beverage alcohol sales, partly due to the removal of higher-margin U.S. products, combined with a decline in beer commission revenue.

NLC paid $58.0 million to the Government of Newfoundland and Labrador in the quarter, a decrease of $2.0 million compared to $60.0 million in the second quarter of fiscal 2025.

Cannabis sales totalled $28.5 million in Q2, an increase of 10.6 percent over Q2 of the prior year. Total retail cannabis sales in Q2, including online sales, were $28.6 million.