- Neighbourly (NBLY) announced its financial results for the twelve-week period ended September 10, 2022 (the second quarter 2023)
- Revenue increased to $178.9 million, up $88.2 million or 97.3 per cent
- Adjusted EBITDA for the second quarter increased to $19.8 million, up $9.8 million or 98.3 per cent
- Neighbourly is Canada’s largest and fastest-growing network of community pharmacies
- Neighbourly Pharmacy Inc. (NBLY) is up 10.87 per cent, trading at C$23.15 per share at 3:28 pm ET
Neighbourly (NBLY) announced its financial results for the twelve-week period ended September 10, 2022 (the second quarter 2023).
Q2 highlights:
- Same-store sales in the second quarter increased by 3.6 per cent
- Revenue increased to $178.9 million, up $88.2 million or 97.3 per cent
- Net income and comprehensive income of $0.1 million, an improvement of $3.5 million, when compared to a loss of $3.4 million in the second quarter 2022
- Adjusted EBITDA for the second quarter increased to $19.8 million, up $9.8 million or 98.3 per cent. This is primarily from the incremental profitability of pharmacies added to the company’s network, including Rubicon.
- Adjusted Earnings per Share of $0.12, up from $0.09 in the second quarter 2022
- Pro-Forma Revenue of $828.5 million and Pro-Forma Adjusted EBITDA of $96.8 million
- Network of pharmacies now at 284 locations, after giving effect to the recently announced acquisitions of 6 pharmacies in Atlantic Canada and another 2 in British Columbia. The company expects to complete both transactions in November.
Chris Gardner, the CEO of Neighbourly, commented on the results.
“Neighbourly’s second quarter results reflect the strength and resilience of our underlying business and the continued focus on executing against our acquisition strategy. Since closing on Rubicon, we have once again accelerated our acquisition momentum. We are adding one new location in the second quarter and welcoming 8 additional locations to Neighbourly in November.”
Neighbourly is Canada’s largest and fastest-growing network of community pharmacies.
Neighbourly Pharmacy Inc. (NBLY) is up 10.87 per cent, trading at C$23.15 per share at 3:28 pm ET.
