Latest news with #Fiscal2026
Business Wire
09-07-2025
- Business
- Business Wire
Canopy Growth Appoints Tom Stewart as Interim Chief Financial Officer
SMITHS FALLS, Ontario--(BUSINESS WIRE)--Canopy Growth Corporation ('Canopy Growth' or the 'Company') (TSX: WEED) (Nasdaq: CGC), a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives, today announced the appointment of Tom Stewart as Interim Chief Financial Officer, effective immediately. Mr. Stewart succeeds Judy Hong, who served as Canopy Growth's Chief Financial Officer since April 2022. During her tenure, Ms. Hong played a key role in improving the Company's capital structure and significantly strengthening its financial position. Canopy Growth thanks Ms. Hong for her leadership and support of its strategic vision. Mr. Stewart is an accomplished finance executive with over 20 years of experience with public companies, including accounting, reporting, FP&A, and operational finance. He joined Canopy Growth in 2019 as Chief Accounting Officer, following 10 years in increasingly senior finance roles at Constellation Brands, Inc. Mr. Stewart began his career at PricewaterhouseCoopers and is a Certified Public Accountant in the state of New York. Mr. Stewart's appointment is part of the Company's continued execution of its Fiscal 2026 strategy, which includes a sharpened focus on operational efficiency, disciplined capital management, and building a sustainable, performance-led business. His background in performance-driven consumer packaged goods finance and accounting makes him well-suited to support Canopy Growth's financial and operational priorities in this next phase. 'Tom has been a core member of our finance leadership team and is the right person to step into this role at a critical time,' said Luc Mongeau, Chief Executive Officer. 'His background brings the right balance of financial rigor and operational insight to support our goals around efficiency, profitability, and long-term value creation.' 'I'm proud to take on this role and support Canopy Growth as we move with purpose into our next phase,' said Tom Stewart. 'I believe in the strength of this team and the long-term opportunity in the sector. My focus will be on disciplined execution, fundamentals, and building a strong financial platform as we pursue profitable growth.' The Company has initiated a formal search for a permanent Chief Financial Officer. About Canopy Growth Canopy Growth is a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives. Through an unwavering commitment to consumers, Canopy Growth delivers innovative products from owned and licensed brands including Tweed, 7ACRES, DOJA, Deep Space, and Claybourne, as well as category defining vaporization devices by Storz & Bickel. In addition, Canopy Growth serves medical cannabis patients globally with principal operations in Canada, Europe and Australia. Canopy Growth has also established a comprehensive ecosystem to realize the opportunities presented by the U.S. THC market through an unconsolidated, non-controlling interest in Canopy USA, LLC ('Canopy USA'). Canopy USA's portfolio includes ownership of Acreage Holdings, Inc., a vertically integrated multi‑state cannabis operator with operations throughout the U.S. Northeast and Midwest, as well as ownership of Wana Wellness, LLC, The Cima Group, LLC, and Mountain High Products, LLC, a leading North American edibles brand, and majority ownership of Lemurian, Inc. , a California-based producer of high-quality cannabis extracts and clean vape technology. At Canopy Growth, we're shaping a future where cannabis is embraced for its potential to enhance well-being and improve lives. With high-quality products, a commitment to responsible use, and a focus on enhancing the communities where we live and work, we're paving the way for a better understanding of all that cannabis can offer. For more information visit
Bloomberg
09-07-2025
- Business
- Bloomberg
US Army Pushes for Massive Boost in Patriot Missile Inventory
The US Army plans to spend more than $1.3 billion on Patriot missiles for the fiscal year beginning Oct. 1, and has quietly quadrupled its overall purchase target for the air defense weapon that has proven critical not just for Ukraine but also for US forces in the Middle East. On April 16, a panel of high-ranking Army officials who recommend armament requirements raised its buying plan for the most advanced Patriot interceptor to 13,773 from 3,376, according to documents accompanying the service's fiscal 2026 budget request. The panel sets requirements but those don't automatically translate into hard budget numbers or near-term contracts.
Yahoo
07-07-2025
- Business
- Yahoo
City Council passes $107 million budget: What was cut to make it balanced?
Burlington City Council has passed the fiscal 2026 budget, locking it in just before the fiscal year begins July 1. Councilors voted unanimously to pass the $107,093,396 budget, a budget 1% smaller than FY25 which was $107.8 million. These first two budgets for Mayor Emma Mulvaney-Stanak have not been easy ones to manage, as she has faced large deficits - $13 million for fiscal 2025 and $9.8 million this upcoming fiscal year. The attempt to close the gap, the end of one-time COVID-related federal funding, rise in costs and other financial adjustments have resulted in tough decisions, according to Mulvaney-Stanak. 'After closing a $14.2 million gap last year, we knew that this year would require making painful decisions,' Mulvaney-Stanak said. One of those decisions was to cut 25 city positions. Mulvaney-Stanak said eliminating those positions, as well as eliminating some city programs, will save the city nearly $4 million. She said the city had structural challenges that negatively impacted annual budgets, including one-time funding positions that continued to operate long-term. Muvaney-Stanak and Chief Administrative Officer Katherine Schad have both stated that a priority of the budget was to not significantly raise taxes. The Municipal Tax rate will increase 2%, or by $0.02. That includes the one cent Public Safety Tax that voters approved March 2024. Gross receipts taxes have been a point of contention between businesses and the city. The 0.5% increased non-lodging tax is applied to admissions, alcohol, amusements, meals and rooms. It was implemented in Fiscal 2025 and was recently extended until August 31. Mulvaney-Stanak proposed that it will remain at 2.5% until September 2026 to allow time for the Council and administration to build a budget for FY27. Mulvaney-Stanak also wanted to remind that a 4% hotel rate currently exists to 'ensure that visitors of Burlington also contribute more to the budget,' and will continue. Mulvaney-Stanak opted to forgo her salary cost of living adjustment increase, or COLA for the next fiscal year, as did department heads until quarter three of the fiscal year. That will save the city $37,000. The budget reflects the mayor's commitment to investing in community safety. That includes funding various initiatives and organizations that focus on public health work, including mental health, drug and addiction treatment and homelessness. A new position within the Community and Economic Development Office (CEDO) will lead new strategies for housing production in the city. The mayor also wanted to make it clear that the city has used up the last of the American Rescue Plan Act (ARPA) funds. Councilors seemed content with the budget, although Ward 1 Councilor Carter Neubieser and Ward 7 Councilor Evan Litwin both made last minute motions to amend parts of the budget. Neubieser moved to remove an allocation of $100,000 to the Visiting Nurses Association, stating that while it's valuable work, the University of Vermont Health Network should supply the funds to pay those employees. While other councilors agreed with his sentiment, they said it was a point that should have been addressed previously to avoid a potential for the program being cut by UVM if the city does not provide funds. Litwin moved to remove $7,500 in funding for the Howard Center and instead move that money to the Turning Point Center. Both motions failed. Other councilors expressed some concern over the Gross Receipts Tax negatively affecting local business, and brought up the point that much of the general fund is going to public health work, and that neighboring municipalities and the state need to be investing more in public safety initiatives as well. This article originally appeared on Burlington Free Press: City Council passes FY 2026 budget
Yahoo
07-07-2025
- Business
- Yahoo
Can The J. M. Smucker Overcome Gross Margin Strains in FY26?
The J. M. Smucker Company SJM enters fiscal 2026 under pressure, grappling with gross margin headwinds due to persistent cost inflation, unfavorable product mix and soft volumes. In fourth-quarter fiscal 2025, the company reported a 9% year-over-year decline in adjusted gross profit and an 8% drop in adjusted operating income. These declines were largely attributed to higher costs, reduced sales volume and the lingering impact of recent ahead, The J. M. Smucker expects the fiscal 2026 adjusted gross profit margin to range between 35.5% and 36%. This forecast reflects elevated commodity and manufacturing costs and negative volume/mix. Management also highlighted a roughly 50 basis point (bps) unfavorable impact from tariffs — most notably affecting the U.S. Retail Coffee segment — as a factor contributing to the margin to the pressure, The J. M. Smucker expects its selling, distribution and administrative expenses to rise approximately 3% year over year in fiscal 2026. The increase is primarily caused by elevated marketing investments aimed at supporting key growth brands, particularly Cafe Bustelo and Uncrustables. Total marketing spend is projected to reach 5.7% of net sales, up 30 bps from the prior year. While these investments are intended to fuel long-term growth, they contribute to near-term cost headwinds as The J. M. Smucker navigates a dynamic operating The J. M. Smucker focuses on brand investment and operational efficiency, overcoming margin pressures will require disciplined cost control and sustained consumer demand. Success in navigating these headwinds will be key to restoring profitability and supporting shareholder value in fiscal 2026 and beyond. Investors should monitor margin trends closely as the year progresses. Like The J. M. Smucker, Conagra Brands CAG and Lamb Weston LW are managing inflationary pressures and shifting consumer continues to face elevated protein and input costs, which contributed to a 389 bps adjusted gross margin decline in the third quarter of fiscal 2025. Conagra is focusing on portfolio restructuring, divesting lower-growth assets and investing in high-margin categories like snacks to offset margin Lamb Weston is emphasizing cost efficiency and operational restructuring. The company reported 9% global volume growth in the third quarter of fiscal 2025 and is executing over 30 strategic projects for fiscal 2025, even as its price/mix declined 5% due to strategic pricing adjustments. Lamb Weston aims to drive profitability through network optimization and new customer wins across international and foodservice channels. Shares of SJM have dropped 5.5% in the past year against the industry's growth of 3.1%. Image Source: Zacks Investment Research From a valuation standpoint, SJM trades at a forward price-to-earnings ratio of 11.06X, below the industry's average of 16.01X. Image Source: Zacks Investment Research The Zacks Consensus Estimate for SJM's current fiscal year's earnings implies a year-over-year decline of 8.3%, whereas its next fiscal year's earnings estimate suggests a year-over-year uptick of 7.7%. Image Source: Zacks Investment Research SJM stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Conagra Brands (CAG) : Free Stock Analysis Report The J. M. Smucker Company (SJM) : Free Stock Analysis Report Lamb Weston (LW) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
03-07-2025
- Business
- Yahoo
What Makes Atlas the Core Driver of MongoDB's Revenue Growth?
MongoDB's MDB Atlas has become a central pillar of the company's platform strategy. In the first quarter of fiscal 2026, MongoDB highlighted strong adoption of Atlas across industries, including customers like CSX and LG Uplus, which are leveraging the platform for real-time operations and AI capabilities. The company saw its highest total customer net additions in over six years, driven primarily by Atlas, with self-serve channels contributing significantly to the fiscal first quarter, total revenues were $549 million, up 22% year over year. Atlas revenues grew 26% and accounted for 72% of total revenues, compared to 70% in the prior year. Atlas customer count reached over 55,800, up from 47,700 a year ago. MongoDB expects Atlas to continue playing a key role in its long-term strategy. For fiscal 2026, Atlas growth is embedded in the company's raised revenue guidance of $2.25–$2.29 billion, reflecting continued confidence in its performance. Subscription revenues make up the vast majority of MongoDB's business, with Atlas serving as the core component of this segment. The Zacks Consensus Estimate for MongoDB's subscription revenues for the fiscal second quarter is pegged at $537.5 million, with the estimate for Atlas customers pinned at roughly 55, support future growth, MongoDB is expanding its efforts in application modernization and AI. The company recently acquired Voyage AI and plans to enable users to generate embeddings directly from data within MongoDB. MongoDB is also hiring experienced enterprise leaders, investing in developer training and certifications, and enhancing self-serve tools to drive greater Atlas adoption. MongoDB faces growing competition from Amazon's AMZN DynamoDB and Couchbase BASE, both of which are expanding their presence in the cloud database DynamoDB has added multi-region strong consistency to its Global Tables, letting apps read and write data across AWS regions with the same accuracy. This makes Amazon's DynamoDB stronger in the cloud database space, especially for apps that need high launched a new version of its cloud database using Memory-First Computing Platform to support AI agent workflows. This lets large language models take actions directly on Couchbase clusters. It's designed for smarter, real-time systems and supports a future of connected, AI-powered tools. MDB shares have lost 8.7% in the year-to-date (YTD) period, underperforming the Zacks Internet – Software industry's growth of 14.3% and the Zacks Computer and Technology sector's return of 6.9%. Image Source: Zacks Investment Research From a valuation standpoint, MongoDB stock is currently trading at a forward 12 months Price/Sales ratio of 6.89X compared with the industry's 5.74X. MDB has a Value Score of F. Image Source: Zacks Investment Research The Zacks Consensus Estimate for second-quarter fiscal 2026 earnings is pegged at 64 cents per share, which has been revised upward by a nickel over the past 30 days, indicating 8.57% year-over-year decline. MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote MongoDB currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN) : Free Stock Analysis Report MongoDB, Inc. (MDB) : Free Stock Analysis Report Couchbase, Inc. (BASE) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
