Wednesday, 15 July 2026 07:30 PM
Earnings
TORONTO, ON / ACCESS Newswire / July 15, 2026 / The Becker Milk Company Limited (the "Company") (TSX:BEK.B) is pleased to report the results for the year ended April 30, 2026.
HIGHLIGHTS
Total revenues for the year ended April 30, 2026 were $3,024,699 compared to $2,992,082 for the same period in 2025;
The year-to-date non-GAAP financial measure Net Operating Income for Q4 fiscal 2026 was $2,414,045 compared to $2,386,854 in fiscal 2025;
The year-to-date net income for Q4 fiscal 2026 was $0.79 per share, compared to $1.57 net income per share in Q4 fiscal 2025.
Compensation from an expropriation claim against Metrolinx and from insurance recovery following a fire at an investment property have resulted in gains of $330.874 and $362,526 respectively.
FINANCIAL HIGHLIGHTS
Total revenues for the year ended April 30, 2026, increased $32,617 compared to the year ended April 30, 2025, a result of increased property revenue partially offset by reduced finance income.
| Year ended |
| ||||||
| April 30 |
| ||||||
| 2026 |
|
| 2025 |
| |||
Property revenue |
| $ | 2,915,474 |
|
| $ | 2,834,413 |
|
Finance income |
|
| 109,225 |
|
|
| 157,669 |
|
Total revenues |
| $ | 3,024,699 |
|
| $ | 2,992,082 |
|
|
|
|
|
|
|
|
| |
Net income attributable to common |
|
|
|
|
|
|
|
|
and special shareholders |
| $ | 1,420,886 |
|
| $ | 2,847,590 |
|
Average common and special shares outstanding |
|
| 1,808,360 |
|
|
| 1,808,360 |
|
|
|
|
|
|
|
|
| |
Income per share |
| $ | 0.79 |
|
| $ | 1.57 |
|
|
|
|
|
|
|
|
| |
Components of the $1,426,704 decrease in net income for the year ended April 30, 2026, compared to the year ended April 30, 2025, are:
Changes in Net Income - Year ended April 30, 2026 | ||||
|
|
| ||
Gain on insurance recovery |
| $ | 388,287 |
|
Proceeds of expropriation settlement |
|
| 330,874 |
|
Decrease in deferred tax charges |
|
| 218,804 |
|
Increase in net operating income |
|
| 27,191 |
|
Decrease in finance income |
|
| (48,444 | ) |
Increase in administrative expenses |
|
| (65,584 | ) |
Increase in current taxes |
|
| (87,767 | ) |
Decrease in the fair value adjustment |
|
| (2,190,065 | ) |
Decrease in net income |
| $ | (1,426,704 | ) |
There was no material change in investment property capitalization rates during the year ended April 30, 2026. Compared to the year ended April 30, 2025, there was a $2,190,065 unfavourable change in the fair value adjustment to investment properties.
Non-IFRS financial measures
Net operating income
The non-IFRS financial measure Net Operating Income for the year ended April 30, 2026 was $2,414,045, a $27,191 increase compared with the previous year.
| Year ended |
| ||||||
| April 30 |
| ||||||
| 2026 |
|
| 2025 |
| |||
Property revenue |
| $ | 2,915,474 |
|
| $ | 2,834,413 |
|
Property operating expenses |
|
| (501,429 | ) |
|
| (447,559 | ) |
Net operating income |
| $ | 2,414,045 |
|
| $ | 2,386,854 |
|
Funds from operations and adjusted funds from operations
For the year ended April 30, 2026, the Company recorded Adjusted funds from operations of $764,107 ($0.42 per share) compared to $705,034 ($0.39 per share) in 2025.
| Year ended |
| ||||||
| April 30 |
| ||||||
| 2026 |
|
| 2025 |
| |||
Net income |
| $ | 1,420,886 |
|
| $ | 2,847,590 |
|
Add (deduct) items not affecting cash: |
|
|
|
|
|
|
|
|
Adjustment to fair value of investment properties |
|
| (53,153 | ) |
|
| (2,243,218 | ) |
Gain on insurance recovery, net of income tax |
|
| (339,240 | ) |
|
| 25,761 |
|
Proceeds of expropriation settlement, net of income tax |
|
| (218,107 | ) |
|
| 27,311 |
|
Deferred income taxes |
|
| 65,568 |
|
|
| 284,372 |
|
Funds from operations |
|
| 875,954 |
|
|
| 941,816 |
|
Deduct non-operating items: |
|
|
|
|
|
|
|
|
Sustaining capital expenditures |
|
| (111,847 | ) |
|
| 705,034 |
|
Adjusted funds from operations |
| $ | 764,107 |
|
| $ | 677,723 |
|
Adjusted funds from operations per share |
| $ | 0.42 |
|
| $ | 0.39 |
|
STRATEGIC REVIEW
The Board of Directors continually evaluates strategic directions for the Company. Although the Company has previously engaged in discussions with potential acquirers, none of those discussions are active currently. The Company continues to review its strategic alternatives and will update the market as appropriate, and as required.
The Company's annual audited financial statements for the year ended April 30, 2026, along with the Management's Discussion and Analysis will be filed with SEDAR at www.sedar.com.
Readers are cautioned that although the terms "Net Operating Income", and "Funds From Operations" are commonly used to measure, compare and explain the operating and financial performance of Canadian real estate companies and such terms are defined in the Management's Discussion and Analysis, such terms are not recognized terms under Canadian generally accepted accounting principles. Such terms do not necessarily have a standardized meaning and may not be comparable to similarly titled measures presented by the other publicly traded entities.
For the Board of Directors
G.W.J. Pottow, President
Tel: 416-698-2591
SOURCE: The Becker Milk Company Limited