MONTREAL, Dec. 18, 2025 /CNW/ - For the second quarter of its 2025-2026 fiscal year, which ended on September 13, 2025, the Société des alcools du Québec (SAQ) has reported net income of $336.5 million, a slight $1.3 million or 0.4% decrease from the corresponding quarter of the preceding fiscal year.
Results in brief
- Overall dollar sales rose 0.4% to $950.3 million. At 50.7 million litres, volume sales were down 4%.
- Sales in the SAQ's store and specialized centre network were up $14.3 million or 1.6%, compared with the corresponding quarter of the preceding fiscal year, while the related volume sales dropped 0.6 million litres or 1.3%.
- Dollar sales in the wholesale grocer network decreased $10.7 million or 14.8%, compared with the corresponding quarter of the preceding fiscal year, with the related volume sales falling 1.5 million litres or 20%.
- Government revenues totalled $624 million, an $8 million decrease from the corresponding quarter of the preceding fiscal year. The amounts payable to the Quebec treasury totalled $507 million, with another $117 million destined for the federal government.
- In a constantly changing environment marked by declining sales, the SAQ continues to implement initiatives aimed at supporting its performance while maintaining rigorous cost management adapted to sales.
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Net income $336.5 million -0.4% |
Sales $950.3 million +0.4% |
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Gross margin $485.5 million +2.4% |
Ratio of net expenses to sales 14.5%* 15.7% 14.4% in Q2 2024-2025 |
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* Excluding non-recurring expenses related to the modernization of the curbside recycling system. |
Detailed results
Store and specialized centre network (permit holders, agency stores and other customers)
- Dollar sales in this network totalled $888.7 million, a $14.3 million or 1.6% increase.
- Volume sales fell 0.6 million litres or 1.3% to 44.7 million litres.
- Totalling $20.8 million and accounting for 2.9% of consumer sales, online sales were up 4.5% from the corresponding quarter of the preceding fiscal year.
- The value of consumers' average shopping cart increased 2.4%, going from $62.09 to $63.58.
- For consumer sales overall, the average per-litre sales price rose to $21.20, compared with $20.67 for the corresponding quarter of the preceding fiscal year.
Wholesale grocer network
- Dollar sales in this network fell $10.7 million or 14.8% to $61.6 million.
- Volumes sales totalled 6 million litres, compared with 7.5 million litres for the corresponding quarter of the preceding fiscal year a 1.5 million litre or 20% decrease.
- Sales made to the wholesale grocer network vary from quarter to quarter based on the sequencing of their orders. This accounts for the fluctuations seen from the corresponding quarter of the preceding fiscal year.
- It should be noted that the SAQ acts as a wholesaler to the Quebec grocery and convenience store network. Consequently, the sales made in this network do not necessarily correspond to the sales these establishments made to consumers.
Net expenses
- Net expenses totalled $149 million, compared with $136.4 million in the equivalent quarter of fiscal 2024-2025. Excluding non-recurring expenses related to the modernization of the curbside recycling system, which are estimated at $12.6 million, net expenses remained stable on a comparable basis.
- Also on a comparable basis and expressed as a percentage of sales, the ratio of net expenses to sales was 14.5% versus 14.4% for the same quarter of the preceding fiscal year. If the non-recurring expenses related to the modernization of the curbside recycling system are included, the ratio is 15.7%.
The SAQ's quarterly financial results, including the sales and expense trends for the last five years, will be found in its Q2 financial report (in French only).