George Weston reports $258 million Q2 profit, announces stock split

A Loblaws grocery store is shown at a Bowmanville, Ont. shopping centre on Tuesday Feb. 28, 2023. THE CANADIAN PRESS/Doug Ives

TORONTO — George Weston Ltd. says its second-quarter profit available to common shareholders amounted to $258 million, down from $400 million in the same quarter last year.

The company, which holds large interests in Loblaw Cos. Ltd. and Choice Properties REIT, says the drop in profit from last year came in part because of a fair value adjustment of a trust unit liability.

On an adjusted basis, the company says it earned $401 million or $3.06 per diluted share for the quarter, up from an adjusted profit of $394 million or $2.93 per diluted share a year ago.

Analysts on average had expected an adjusted profit of $3.37 per diluted share, according to LSEG Data & Analytics.

Revenue for the quarter totalled $14.82 billion, up from $14.09 billion in the same quarter last year.

George Weston, whose shares stand at around $260 each, also announced a three-for-one stock split in a move it says will ensure common shares remain accessible to retail investors and employees, and to improve liquidity.

This report by The Canadian Press was first published July 29, 2025.